The Cape Breton Regional Municipality is transferring its defined benefit plan into Nova Scotia’s public service superannuation plan.
The transfer includes 1,157 members, 724 of whom are active, and represents the largest completed under the Municipal and Other Authorities Pension Plan Transfer Act, which came into effect in November 2016.
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The Cape Breton plan joins several other recent additions to the public service superannuation plan, including the Sherbrooke Restoration Commission, South Shore Public Libraries, Acadia University, Université Sainte-Anne, University of King’s College and Halifax Harbour Bridges.
Under the terms of the transfer, the addition of the new plan must be beneficial to the long-term sustainability of the public service superannuation plan and cost-neutral to current members.
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