As a defined benefit pension plan, The Regina Police Pension Plan provides eligible members with a retirement income based on a formula that takes into account the member's earning history and length of service in the Plan.
Some of the benefits of belonging to the Plan include:
- a lifetime monthly pension based on the average of your highest three consecutive
years (does not have to be calendar years) of pensionable earnings and years of
- early retirement options;
- bridge benefit payable from early retirement up to age 65;
- inflation protection;
- termination benefits; and
- survivor benefits.
The Plan represents both police and civilian members of the Regina Police Service.
Plan membership includes active members who are still working and contributing to the Plan, inactive members who are no longer contributing to the Plan but are entitled to receive benefits upon retirement, and retired members and survivors who are currently receiving a pension.
Plan Membership at December 31, 2015:
Assets of the Plan are actively managed in accordance with the Statement of Investment Policies and Procedures.
Asset Class Allocation at December 31, 2015:
The Plan is governed by a Board of Trustees made up of six voting members: two elected representatives of City of Regina City Council who are appointed as members of the Commission, one representative appointed by the Commission, two persons appointed by the Regina Police Association, and one employee representative of the Regina City Police Senior Officers' Association.
The current Board members are:
Councillor Wade Murray
Sergeant Jason Gunderson
Mayor Michael Fougere
Inspector Lorilee Davies
Inspector Darcy Koch*
Sergeant Todd Strueby*
The Plan is reviewed by a qualified actuary at least every three years and is subject to the requirements of The Pension Benefits Act, 1992 (Saskatchewan), The Pension Benefit Regulations, 1993 (Saskatchewan), and The Income Tax Act.