Halifax, NS – April 29, 2019 – Nova Scotia Teachers’ Pension Plan Trustee Inc. (TPPTI) announced today that the Teachers’ Pension Plan’s (Plan) net assets were $4.938 billion as at December 31, 2018, down from $5.111 billion at the end of 2017. The funded status of the Plan at the end of 2018 decreased to 75.3% on a going-concern basis, compared to 78.4% at the end of 2017.
The Public Service Superannuation Plan (PSSP) and the Teachers’ Pension Plan (TPP) are no longer considered to be ‘related plans’.
Historically, TPP members have been prevented from contributing to the PSSP while receiving a pension benefit from the TPP. This was due to the plans being considered ‘related’. Today, the plans have separate Trustees. The Trustee for the TPP is the Teachers’ Pension Plan Trustee Inc. (TPPTI) and the Trustee for the PSSP is the Public Service Superannuation Plan Trustee Inc. (PSSPTI).
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