Previous agreements saw officers paid 98 per cent of an average of the Prairie provinces, but that formula is no more under the new contract.
The new agreement will see police get an 11 per cent pay increase over the life of the contract from 2013 to 2016.
It starts with a 2.5 per cent bump effective April 1, 2014.
The deal will also switch officers onto a target benefit pension plan, which is intended to give a better idea of what level of income a worker can expect in retirement.
The current system is a defined contribution plan.
Officers will keep benefits built up under the old plan before the Jan. 1, 2016 start date for the new pension scheme.