Calculating Your Monthly Pension

HEPP is a defined benefit pension plan. Unlike a Registered Retirement Savings Plan (RRSP) or a defined contribution pension plan, a defined benefit pension plan uses a formula, rather than investment income derived from pension contributions, to determine benefits payable to eligible members at retirement.

The amount of your monthly lifetime pension benefit is based on the following formula:

1.5% of your highest average earnings up to the Canada Pension Plan’s YMPE (Year’s Maximum Pensionable Earnings)
Plus 2.0% of your highest average earnings over the YMPE
Multiplied by your years of credited service
Divided by 12.

The Income Tax Act outlines the maximum annual pension amount that an RPP may provide to its members.

Disclaimer - This website provides a basic overview of the Healthcare Employees' Pension Plan (HEPP) and the Healthcare Employees' Benefits Plan (HEBP) (collectively the HEB Manitoba Pension and Benefit Plans). Not all employers participate in all Plans. Please check your eligibility for benefits with your employer.

HEB Manitoba is a name notation registered by the Healthcare Employees’ Pension Plan – Manitoba and the Healthcare Employees’ Benefits Plan – Manitoba and under which each of their respective undertakings is carried out.

The information on this website is for convenience of reference only and has no official sanction. See our full disclaimer HERE.

LAND ACKNOWLEDGMENT

HEB Manitoba serves its stakeholders on Treaty Lands 1, 2, 3, 4, 5, 6, and 10, the traditional territories of the Anishinaabeg, Anishininewuk, Dakota-Oyate, Denesuline, Nehethowuk Nations, Inuit, and the national homeland of the Red River Métis Nation.

HEB Manitoba is committed to moving forward in partnership with First Nations, Inuit and Métis people in the spirit of truth, reconciliation and collaboration for the benefit of all people.