MLA Pension Plan

MLA Pension Plan

The MLA Pension Plan provides retirement benefits exclusively to Members of Nova Scotia’s House of Assembly. Administered from Halifax by the Nova Scotia Pension Services Corporation under CEO Douglas Moodie, the Plan is a closed, occupation-specific defined-benefit scheme. Its statutory foundation, the Members’ Retiring Allowances Act, sets it apart from the large provincial plans that fall under the Pension Benefits Act, giving the province direct trustee control via the Minister of Finance and Treasury Board. Investment exposure extends well beyond Canadian government bonds. The structure implies pooled, manager-of-managers or direct co-investment sleeves inside commingled Nova Scotia vehicles — though individual manager lineups and specific positions remain unpublished. Geographic diversification spans at least Global developed markets, with the Master Trust’s real estate described as mixed-use. Board co-chairs Keiren Tompkins and John Rogers provide governance. NS Pension is a member of the Canadian Public Pension Leadership Council, a peer network focused on sustainability practices for public retirement systems. No discrete professionals count or AUM figure is disclosed. The Plan’s structural differentiator is its legislative isolation. Unlike the broader Nova Scotia Public Service Superannuation Plan, the MLA Plan cannot be amended through routine regulatory updates to the Pension Benefits Act; changes require specific legislative action amending the Members’ Retiring Allowances Act. This makes the Plan’s design — and any potential future reform — a direct political decision rather than an administrative one.