My pension plan at PUBLICA
Active members and their employers pay contributions based on the insured salary to fund retirement, disability and death benefits. The savings contributions vary, depending on the pension plan type (standard/management) and age. You can also make additional, voluntary savings contributions to top up your retirement assets. Depending on your plan type (standard/management), you can choose from a number of percentage options for your voluntary savings contributions.
| Age group | Employee’s savings contribution | Employer’s savings contribution | Total retirement credits |
|---|---|---|---|
| 22 - 24 | 4.30% | 4.80% | 9.10% |
| 25 - 34 | 4.75% | 8.00% | 12.75% |
| 35 - 44 | 7.10% | 10.35% | 17.45% |
| 45 - 54 | 9.95% | 14.55% | 24.50% |
| 55 - 65 | 13.40% | 18.20% | 31.60% |
| 66 - 70 | 4.30% | 4.80% | 9.10% |
| Age group | Employee’s savings contribution | Employer’s savings contribution | Total retirement credits |
|---|---|---|---|
| 22 - 24 | 5.80% | 6.30% | 12.10% |
| 25 - 34 | 6.25% | 9.50% | 15.75% |
| 35 - 44 | 8.60% | 11.85% | 20.45% |
| 45 - 54 | 11.45% | 16.05% | 27.50% |
| 55 - 65 | 14.90% | 19.70% | 34.60% |
| 66 - 70 | 4.30% | 4.80% | 9.10% |
| Savings plans 1 | ||
|---|---|---|
| Age range | Option 1 (%) | Option 2 (%) |
| 22-44 | 1.5 | 3.0 |
| 45-70 | 2.25 | 4.5 |
| Savings plans 2 | ||
|---|---|---|
| Age range |
Option 1 (%) |
Option (2%) |
| 22-44 | 1.0 | 2.0 |
| 45-70 | 2.0 | 4.0 |
Risk premium
PUBLICA levies a risk premium of 2% of the insured salary to insure the risks of death and disability. The employer pays this in full.
From 1 January 2024, the OPA minimum interest rate is 1.25%.
Your pension plan’s parity commission has set the following interest rates for retirement assets and for vested benefits paid out during the year as follows:
| Interest rates | 2024 |
|---|---|
| Interest on arrears for subsequent payment of benefits | 2.25% |
| Interest on reimbursement | 1.25% |
| Default interest on reimbursement | 2.25% |
| employment relationship prior to the 1 January after the 21st birthday | 1.25% |
| Interest on vested benefits | 1.25% |
| Default interest on termination benefits | 2.25% |
| Interest on arrears for subsequent payment of termination benefits | 2.25% |
| Interest on reimbursement of vested benefits | 1.25% |
The following people were appointed to the Confederation parity commission for the term of office from 1 January 2021to 31 December 2025: