For more than 100 years, the PSSP has helped Nova Scotia employers support their employees with a professionally managed, locally administered defined benefit pension plan.
The PSSP gives eligible Nova Scotia employers access to an established defined benefit pension plan without having to build and manage one independently.
Employer + employee contribute equally to the Plan
We manage the pension plan on your behalf
Your employees earn a defined benefit pension
Why employers choose the PSSP
Stronger employee offering
Recruitment and retention
Less pension administration
Flexible participation
How the PSSP works for employers
Employers across Nova Scotia, including those in the private sector, can participate in the PSSP.
You choose a contribution level
Flexible contribution options to help align pension costs with your organization’s budget
We administer the Plan
The Trustee Board and NS Pension oversee the Plan's governance, investment management, and member services.
Your employees receive a retirement security
Your employees receive a lifetime income that supports wellbeing in retirement.
Contribution levels that are designed to fit your organization
Flexible contribution levels make it easier to align retirement benefits with organizational budgets.
- One level can apply across the organization
- Different levels can be assigned to different employee groups
- Employer and employee contributions are matched equally
- Pension amounts scale with the selected level
- No ongoing administration fees or commissions, where applicable
Learn more about PSSP contributions.
- Initial onboarding costs
- Employer responsibility for remitting contributions
What employees receive
Benefits
As a defined benefit plan, PSSP delivers steady lifetime income and professional oversight, less market exposure and stronger employee retention and attraction.
Rethinking workplace pensions - Myth-busting
Defined benefit pensions are sometimes associated with high costs, complex administration, or benefits that are only available to large public-sector employers.
Fact: The PSSP offers three participation levels, allowing employers to choose a contribution level that better reflects their organization’s budget and workforce needs.
Fact: The PSSP supports participating employers across a range of sectors in Nova Scotia, including municipalities, universities, not-for-profits, government organizations, and private-sector employers.
Fact: Participating employers do not have to build or administer their own pension plan.
Fact: The PSSP includes survivor and guarantee provisions that may continue benefits to an eligible spouse, children, dependants, designated beneficiaries, or an estate, depending on the member’s circumstances and the pension option selected at retirement.
Fact: Employees joining the PSSP may have the opportunity to purchase eligible periods of prior service. Usually to the amount of years they have worked with the onboarding employer.
Step 1: Start the conversation
Connect with NS Pension to discuss your organization and determine whether the PSSP may be a good fit.
Step 2: Review your options
Work with NS Pension to review contribution levels and how participation could be structured for your organization.
Step 3: Complete onboarding
If the organization chooses to proceed, NS Pension guides the employer through the onboarding process.
Step 4: Support your employees
Once participation begins, NS Pension provides ongoing pension administration and member support.
Start the Conversation
Contact:
Brendon LeLievre, CEBS
Senior Manager, Business Development
Nova Scotia Pension Services
Phone
902-220-5742