Alberta government pension plans

I work for the provincial government with my PSPP. I make roughly $110,000 as an engineer, the salary survey has the average at $125,000 for my role and my contemporaries make much more than that with other awesome benefits.

There's less risk, less pressure, less stress in the government right now but one of the best perks we have is the PSPP which makes up for the significant difference in pay - at least for myself and others in my area. We already have problems retaining talent. If you're worried about a defined benefit plan, I can guarantee you if it magically disappeared tomorrow the amount it would cost trying to replace the people who left would be astronomically more, at least in the area I work for. You'd be full of the idiots who's reputation prevents them from getting jobs elsewhere. If you thought the government was slow before...

I'm certain that there's areas in the government making too much money but the pension wouldn't be where to start. Get rid of the redundancies and bad employees.

With that said, the max PSPP contribution match is 13.4% in 2019. This is for employees making 168,498. At 100,000 it's 12.4%. Someone making 57,000 it's 10.5%. There's other pensions, but for the average on you're looking at that's probably it.

/r/Calgary Thread