IMPORTANT NOTICE:

LAPP vesting rules are changing. Effective January 1, 2022, active members who have less than two years of membership or pensionable service will become immediately vested in LAPP. Anyone who joins the plan on or after January 1, 2022, will be immediately vested. Immediate vesting means that you qualify for a secure, reliable monthly pension at retirement as soon as you join LAPP. Read more about immediate vesting.

The Value of Being Vested

Being vested in LAPP means you qualify for a secure, reliable monthly pension at retirement, paid for as long as you live.

How You Become Vested

On or after January 1, 2022, active members of LAPP will be immediately vested.

The Importance of Immediate Vesting

Alberta moved to immediate vesting in September 2014 for private sector defined benefit plans, and now public sector workers in LAPP will have the same benefit protection. Immediate vesting is the legislated minimum standard set out in the Employment Pension Plans Act (EPPA) of Alberta, under which LAPP is registered. The change aligns LAPP’s vesting provisions with the standard across Canada; many plans across the country have been moving to reduce or eliminate vesting periods for members.