MLA Pension Plan

The Nova Scotia Minister of Finance and Treasury Board serves as Trustee for the Plan. This is a direct statutory appointment under the Members’ Retiring Allowances Act rather than a separate board-of-trustees structure common in larger Canadian public-sector plans. The Minister’s dual role as plan sponsor and trustee creates a governance arrangement in which investment and benefit decisions are closely tied to the province’s fiscal management.

Unlike the main provincial employee plans, the MLA Plan does not fall under Nova Scotia’s Pension Benefits Act. It is governed solely by the Members’ Retiring Allowances Act. This means funding rules, benefit formulas, and plan amendments are set through specific legislation rather than general pension regulation, insulating the Plan from broader provincial pension reform and requiring direct legislative action for any changes.

The Plan discloses participation in a Master Trust Real Estate Portfolio, holding mixed-use assets globally, and a separate global Infrastructure Portfolio. The use of a master trust structure suggests pooled investment alongside other Nova Scotia public-sector capital. No breakdown of private equity, fixed income, or other allocations is publicly available.

The Nova Scotia Pension Services Corporation administers the Plan, with CEO Douglas Moodie leading the organization. NS Pension handles member services, benefit processing, and communications for the MLA Plan from its Halifax office. Governance oversight is provided by a Board of Directors co-chaired by Keiren Tompkins and John Rogers.

No. The Plan does not publish an AUM figure, and no recent figure is available from secondary sources. The Plan’s narrow membership base — restricted to current and former Members of the Legislative Assembly — suggests a smaller asset pool relative to the broader Nova Scotia public-service pension funds, though the exact magnitude is not verifiable.

Investments are held through a Master Trust structure, pooling capital with other Nova Scotia public pension assets. This arrangement typically provides cost efficiencies and access to larger fund commitments or direct co-investments. The Real Estate Portfolio is described as mixed-use and global, while the Infrastructure Portfolio is globally diversified, though specific managers, underlying properties, or project stakes are not named.

Yes, NS Pension is a member of the Canadian Public Pension Leadership Council, an industry association focused on governance, investment, and sustainability practices for public pension systems across Canada. Membership signals engagement with peer plans on long-term strategy and operational best practices.