Reciprocal transfers allow you to enhance your benefit under the NSECSB’s Pension Plan for Non-Teaching Employees of Education Entities (the “NSECSB Pension Plan”) by increasing both your Credited Service and Continuous Service within the Plan. This can result in a higher pension benefit at retirement, and the increase in Continuous Service may also help you qualify for early retirement sooner than you otherwise would have. Additionally, a reciprocal transfer may give you the opportunity to consolidate pensionable service earned with other participating employers under the NSECSB Pension Plan.
The cost of a reciprocal transfer is based on several factors, including your age, salary, and the amount of service being transferred.
The NSECSB Pension Plan is a participating member of Nova Scotia’s Public Authorities Defined Benefit Reciprocal Transfer Agreement. This agreement allows eligible members to transfer pensionable service between the following participating authorities:
Halifax Regional Municipality
Halifax Regional Water Commission
Municipality of the District of East Hants
Municipality of the County of Richmond
Nova Scotia Education Common Services Bureau
Nova Scotia Health Employees' Pension Plan
Province of Nova Scotia
The Council of Atlantic Premiers
Town of Amherst
Town of New Glasgow
Each transfer is subject to the terms and conditions of the reciprocal transfer agreement. It should be noted that members of the NSECSB Pension Plan are not eligible to transfer pension from the Nova Scotia Health Employees’ Pension Plan. If you're considering a transfer, it is recommended that you contact the Compensation and Benefits team at the NSECSB (compensation@nsecsb.ca).
