Pension “vesting” typically refers to the minimum period of pensionable service required for pension plan contributor to be eligible for a regular monthly lifetime pension benefit.

Under the Federal Public Service Superannuation Act (Federal PSSA), a minimum of 2 years of pensionable service is required in order for a contributor to become “vested”. In the event a contributor terminates employment with less than 2 years of pensionable service, the only entitlement provided under the Federal PSSA is the return of the employee’s own pension contributions plus interest as prescribed by legislation.

The “vesting” period under the Yukon Health Authority Pension Plan is immediate.