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Glossary

Here you will find a list of pension and benefits terminology.

Please select a letter to go to terms beginning with that letter, or browse through the full list of terms.

A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z

A

Assigned Work Week (AWW) (Semaine désignée de travail (SDT))
Actual hours of work per week assigned to employees.
Annual Allowance (Allocation annuelle)

Plan Member on or before December 31, 2012

A benefit available to plan members who have at least two years of pensionable service, who retire before age 60 and are not entitled to an immediate annuity. This benefit is a reduced pension that takes into account the early payment of a retirement pension. It becomes payable at age 50 at the earliest.

Plan Member on or after January 1, 2013

A benefit available to plan members who have at least two years of pensionable service, who retire before age 65 and are not entitled to an immediate annuity. This benefit is a reduced pension that takes into account the early payment of a retirement pension. It becomes payable at age 55 at the earliest.

Average Salary for Pension Purposes (Salaire moyen aux fins de la pension)
Salary of the five consecutive years of highest paid pensionable service in the public service. The average salary of those five years is used to calculate pension benefits under the public service pension plan.


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C

Canada Pension Plan (CPP) (Régime de pensions du Canada (RPC))
A mandatory earnings-related pension plan implemented January 1, 1966, to provide basic retirement income to Canadians between the ages of 18 and 70 who work in all the provinces and territories, except in the province of Quebec. Quebec operates its own pension plan similar to the CPP for persons who work in that province.
Capitalized Value (Valeur capitalisée)
A one-time lump sum payment in lieu of a monthly benefit. This payment option is available when the amount of an annual pension (excluding indexing) is less than two percent of the Yearly Maximum Pensionable Earnings (YMPE), as determined by the Canada Pension Plan/Quebec Pension Plan (CPP/QPP).
Cash Termination Allowance (CTA) (Allocation de cessation d'emploi en espèces)
A one-time lump sum benefit based on the final monthly salary and length of service, minus Canada Pension Plan/Quebec Pension Plan (CPP/QPP) contributions.
Child / Dependant (Enfant / Personne à charge)
In the event of a plan member's death, a child/dependant may be entitled to a child's allowance under the public service pension plan. To be eligible for an allowance, a child must be under 18 years of age. Children between 18 and 25 may receive allowances if they are enrolled in school or another educational institution full-time and have attended continuously since the age of 18 or the date of the member's death, whichever occurs later.
Compensation Web Applications (CWA) (Applications Web de la rémunération (AWR))
CWA is a suite of self-service pay, pension and insurance applications enabling employees to monitor and manage their personal compensation information, as well as calculate pay, pension and insurance "what if" scenarios to assist with financial planning. CWA allows employees to view their Pension and Insurance Benefits Statement, their Statement of Earnings (Pay Stub), and request changes to their Voluntary Deductions. Employees can also use the Pension Benefits Calculator, the Service Buyback Estimator, the Retirement Package, the Pension Portability Package, the Service Buyback Package and the Public Service Health Care Plan (PSHCP) Web Application to help them make important pension and insurance related decisions.


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D

Date of Becoming a Plan Member (Date du début de la participation au régime)

The date an employee of the public service meets the eligibility criteria to contribute to the public service pension plan.

Note: The date an employee becomes a member of the public service pension plan determines the rate of the employee/employer PSSA contributions.

It also determines when the plan member will be eligible to receive his pension benefit:

  • Plan member on or before December 31, 2012: eligible to receive an unreduced pension benefit at age 60 with at least two years of pensionable service (or age 55 with 30 years of service); or
  • Plan member on or after January 1, 2013: eligible to receive an unreduced pension benefit at age 65 with at least two years of pensionable service (or age 60 with 30 years of service).

For more information, refer to the Contribution Rates and the Pension Benefit pages.

Date of Termination / Retirement (Date de cessation d'emploi / retraite)
The date on which a pension plan member most recently ceased to be employed, which is normally the day following the last day for which the plan member received salary. If the plan member was on authorized leave without pay, the termination / retirement date is the day following the date on which the employing department advises the Pension Centre that the plan member ceased to be employed.
Deferred Annuity (Pension différée)

Plan Member on or before December 31, 2012

A benefit that is available to most plan members who leave the public service before age 60 and have at least two years of pensionable service. This benefit is calculated using the same formula as an immediate annuity, but payment is deferred until age 60. A plan member entitled to a deferred annuity may request an annual allowance at any time after he reaches age 50.

Plan Member on or after January 1, 2013

A benefit that is available to most plan members who leave the public service before age 65 and have at least two years of pensionable service. This benefit is calculated using the same formula as an immediate annuity, but payment is deferred until age 65. A plan member entitled to a deferred annuity may request an annual allowance at any time after he reaches age 55.

Designated Beneficiary for Supplementary Death Benefit Plan Purposes (Bénéficiaire désigné aux fins du Régime de prestations supplémentaires de décès)
The individual who is named by a plan member to receive the Supplementary Death Benefit and, if applicable, the minimum benefit payable under the public service pension plan after the death of a member. If there is no designated beneficiary named, then the benefit will be paid to the member's estate.
Dual Employment (Double emploi)
Dual employment occurs when an employee is on leave without pay (LWOP) from one department and is appointed to a term position with a second department.
Dual Remuneration (Double rémunération)
Dual remuneration occurs when an employee physically occupies more than one position and receives salary (remuneration) from all positions at the same time.


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E

Elective Service (Service accompagné d'option)
An eligible period of employment, either in the public service or with another employer that occurred before the employee became a member to the public service pension plan. The plan member may choose to count these periods of prior service as pensionable service.


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I

Immediate Annuity (Pension immédiate)

Plan Member on or before December 31, 2012

A benefit payable to plan members who retire at any time after reaching age 60 with at least two years of pensionable service or after reaching age 55 with at least 30 years of pensionable service or at any age in case of disability with at least two years of pensionable service.

Plan Member on or after January 1, 2013

A benefit payable to plan members who retire at any time after reaching age 65 with at least two years of pensionable service or after reaching age 60 with at least 30 years of pensionable service or at any age in case of disability with at least two years of pensionable service.

Insurance Web Applications (Applications Web sur les assurances)
Part of the Compensation Web Applications, these personalized web tools enable employees and benefit plan members to manage their coverage information online.


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M

Minimum Benefit (Prestation minimale)
A benefit that is equal to the payment of the plan member's pension (excluding indexing) for a period of five years. If the plan member or his eligible surviving spouse or children have not received, in total, pension payments equal to five times the amount of the plan member's annual pension, the balance in the form of a lump sum becomes payable to his designated beneficiary under the Supplementary Death Benefit (SDB) or, if none, to his estate.


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P

Pensionable Allowances (Allocations ouvrant droit à pension)
Allowances which form part of a salary for Public Service Superannuation Act (PSSA) purposes.
Pensionable Service (Service ouvrant droit à pension)
Periods of service to the credit of a public service pension plan member. This includes any periods of purchased service (service buyback/elective service).
Public service pension plan (Régime de pension de retraite de la fonction publique)
Pension plan implemented on January 1, 1954 under the Public Service Superannuation Act (PSSA) that provides benefits for public service employees payable on retirement, termination of employment or disability and for their survivors after death.
Public Service Superannuation Act PSSA (Loi sur la pension de la fonction publique (LPFP))
An Act to provide pension benefits to eligible federal public servants and their dependants. The public service pension plan provides benefits for public service employees payable on retirement, termination of employment or disability and for their survivors after death under the provisions of the PSSA.


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Q

Quebec Pension Plan (QPP) (Régime de rentes du Québec (RRQ))
A pension plan similar to the Canada Pension Plan, which covers persons working in the province of Quebec. It is administered by the Régie des rentes du Québec.


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R

Retirement Compensation Arrangement (RCA) (Convention de retraite (CR))
A plan which provides benefits that exceed the allowable limits for a registered pension plan under the Income Tax Act.
Return of Contributions (ROC) (Remboursement de cotisations)
A benefit that is available to plan members who leave the public service with less than two years of pensionable service under the public service pension plan. It includes employee contributions plus interest, if applicable.


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S

Service Buyback (Rachat de service)
Purchase of prior eligible service that an active plan member may count as pensionable, at his option, subject to certain conditions.
Scheduled Work Week (SWW) (Semaine normale de travail (SNT))
Normal hours of work for the full time position, as indicated by the appropriate Collective Agreement.
Struck off Strength (SOS) (Rayé de l'effectif (RE))
The date on which a pension plan member most recently ceased to be employed, which is normally the day following the last day for which the plan member received salary. If the plan member was on authorized leave without pay, the termination / retirement date is the day following the date on which the employing department advises the Pension Centre that the plan member ceased to be employed.
Supplementary Death Benefit (SDB) (Prestations supplémentaires de décès (PSD))
Decreasing term life insurance benefit equal to twice the annual salary of the plan member; coverage decreases by 10 percent per year starting at age 66. A minimum amount of coverage ($10,000) is provided at no cost to the plan member at age 65 for plan members entitled to an immediate annuity or an annual allowance payable within 30 days after termination of employment in the public service. This minimum coverage is maintained for life.
Survivor (Survivant)
The survivor of a plan member is the person who, at the time of the plan member's death:
  • was married to the plan member before retirement; or
  • was cohabitating in a relationship of a conjugal nature with the plan member prior to retirement and for at least one year prior to the date of death.
Survivor Benefit (Prestation au survivant)
A pension benefit that is paid to the eligible survivor of a plan member who dies. The common-law survivor of a plan member may be entitled to a survivor benefit if this person has lived with the plan member in a relationship of a conjugal nature prior to retirement and for at least one year prior to the date of death.


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T

Taken on Strength (TOS) (Porté à l'effectif (PE))
The first day on which the employee receives remuneration as a public service employee.
Transfer Value (Valeur de transfert)

Plan Member on or before December 31, 2012

A benefit option available to plan members who leave the public service before age 50 with at least two years of pensionable service. This benefit is the actuarial value of the plan member's future pension benefits. It must be transferred to another registered pension plan, to a retirement savings vehicle or to a financial institution to purchase an annuity.

Plan Member on or after January 1, 2013

A benefit option available to plan members who leave the public service before age 55 with at least two years of pensionable service. This benefit is the actuarial value of the plan member's future pension benefits. It must be transferred to another registered pension plan, to a retirement savings vehicle or to a financial institution to purchase an annuity.

Treasury Board of Canada, Secretariat (TBS) (Secrétariat du Conseil du Trésor du Canada (SCT))
The TBS is the administrative arm of the Treasury Board. It provides advice and support to the Treasury Board. The President of the Treasury Board is the minister responsible for the Public Service Superannuation Act, including financial management of the Public Service Superannuation Account and the Public Service Pension Fund.


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Y

Year's Maximum Pensionable Earnings (YMPE) (Maximum des gains annuels ouvrant droit à pension (MGAP))
The maximum earnings (earnings ceiling) for which contributions can be made to the Canada Pension Plan / Quebec Pension Plan during the year.