HRM Pension Plan

The Halifax Regional Municipality (HRM) Pension Plan is a defined benefit pension plan that provides a lifelong retirement income for its members and their beneficiaries. Established on April 1, 1998, it resulted from the merger of four municipal pension plans: the City of Halifax Superannuation Plan, the City of Dartmouth Employees’ Retirement Pension Plan, the Halifax County Municipality Full-time Retirement Pension Plan, and the Metropolitan Authority Employees’ Pension Plan.

The plan is mandatory for all full-time permanent employees of the Halifax Regional Municipality and serves over 14,465 members, including active, retired, and deferred individuals. Its membership comprises various municipal employees, such as those from local police, fire, and transit unions, as well as inside and outside workers. The business model is based on contributions from both employees and participating employers, which are matched equally. These funds, combined with investment returns, ensure the plan can meet its pension benefit obligations. As of the end of 2024, the plan's assets grew from an initial $650 million to $3.1 billion.

The HRM Pension Plan is a joint trusteeship governed by the HRM Pension Committee, which includes representatives from HRM's bargaining units, HRM management, non-union employees, and a retired member. The plan offers various features, including retirement eligibility at different ages and survivor benefits. It also allows members to contribute to a Defined Contribution (DC) account from non-regular income sources to supplement their retirement pension. The plan has reciprocal transfer agreements with the federal government and several provinces, including Nova Scotia, Ontario, and Newfoundland and Labrador.

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