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HÂþ»­ Pension Plan

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If you have pension questions, please contact us at 902-494-1782 or pensions@dal.ca.

HÂþ»­ Pension Plan

means a great deal to all of us. It is part of what makes HÂþ»­ such an attractive place to work and allows our employees to be supported and more secure in their future retirement.

HÂþ»­â€™s pension plan is a critical part of total compensation for faculty, employees and staff. It is vital that our pension plan stays financially healthy, delivering returns that ensure it can fulfill its obligations to all plan members. You can learn about the most recent amendment to the Plan:

What is a defined benefit plan?

A defined benefit plan delivers a defined retirement income based on a specific formula related to your annual earnings and your pensionable service. And that income lasts throughout retirement, which makes budgeting for retirement much easier.

For more information on HÂþ»­â€™s defined benefit plan, please see the pension summary section.

How is my pension calculated?

The pension formula has been adjusted as of January 1, 2024. Your total pension at retirement is a combination of pension earned before and after January 1, 2024, using two different formulas. For more information on how this is calculated, please see the Pension Summary section or the section on Pension Info for New Employees

Is my pension adjusted for inflation?

The plan may adjust pensions for inflation (referred to as indexing) in two separate ways:

(i) when it earns enough investment income above a set threshold (annual indexing) and

(ii) if there is sufficient surplus to pay for discretionary catch-up indexing

For a detailed description of how your pension will be calculated, please see the pension summary section.

How is my pension plan managed?

The Pension Plan has many moving parts to ensure it continues to operate successfully now and into the future.

HÂþ»­ University has a structure in place for the governance and administration of the Plan that consists of the Board of Governors, the Pension Advisory Committee (PAC) and Fund Trustees.

  • The Board of Governors acts as the Administrator of the Plan, monitors the investment of the Plan assets, amends Plan rules subsequent to PAC recommendations, collects and deposits member contributions and contributions from the employer, as well as maintains all necessary administrative records.
  • Pension Advisory Committee (PAC) considers matters relating to pension benefits and the administration of the Plan and makes recommendations relating to the administration of the Plan and the Plan design. The committee also seeks to promote awareness and understanding of the Plan among its members.
  • PTF/RTF Trustees implement investment policies to align with the Plan’s obligations, oversee fund investment management and monitor the investment managers. The Trustees’ primary focus is on the actuarial return targets required to meet the benefit objectives. The investments have met and exceeded the respective return targets over the last 24 years since the plan last enjoyed a strong surplus position. The Trustees also review and consider discretionary or catch up indexing.
  • The Plan also utilizes the services of an actuary to determine the financial position of the Plan (how much money there is in the Plan (the Plan’s assets) and how much money the Plan needs to pay out the benefits promised (the Plan’s liabilities)). The actuary also establishes the minimum and maximum contributions to the Plan until the next valuation and ensures the Plan meets the statutory filing requirements under the Nova Scotia Pension Benefit Act as well as the Canadian Income Tax Act.