PEBA is Transitioning to Not-for-profit Corporation

May 23, 2023

UPDATE: Legislation passed enabling PEBA’s transition to not-for-profit corporation

On May 17, a significant milestone was reached as the Public Employees Benefits Agency (PEBA) continues to transition to a not-for-profit corporation at arm’s length from the Government of Saskatchewan. Bill 94, The Public Pension and Benefits Administration Corporation Act, was passed by the Saskatchewan Legislative Assembly and received Royal Assent.

PEBA began pursuing the transition in 2021 at the request of the trustees of the two largest pension plans it administers: the Public Employees Pension Plan (PEPP) and the Municipal Employees’ Pension Plan (MEPP). The new NPC will strengthen and streamline governance and aligns with Canadian best practice in the pension industry.

Your pension plan is not changing. MEPP will continue to be overseen by the Municipal Employees’ Pension Commission, and the Plan’s investments will continue to be managed by the same world-class firms. Your contribution rates, entitlements and services are unaffected.

Throughout the process, we’ve worked hard to engage pension and benefit plan members, employers, unions and other stakeholders to ensure that they understand the need for the transition and how it will affect them. This included online member town halls, which are available to view on the MEPP website. We will continue to keep you informed of our progress.

The new NPC will begin operations on January 1, 2024 under the name Plannera Pensions and Benefits (Plannera). The name reflects PEBA’s ongoing commitment to helping members successfully plan for retirement. It was developed based on input from employees, plan members and employers. Plannera will continue to provide the same high level of service employers and members now receive.

We are proud to be the administrator of your pension plan, and strive to bring you the best service and support. If you have any questions about the transition, please view these frequently asked questions about the NPC or contact us at peba@peba.gov.sk.ca.
 

March 14, 2023

Town Halls - Update

Online town halls were held on February 23 and 24, 2023, to provide members with information and updates on PEBA’s progress toward a new operating structure as a not-for-profit corporation at arm’s length from the Government of Saskatchewan.

The sessions were led by the Municipal Employees’ Pension Plan (MEPP) Commission Chair Rod Quintin and Tricia Brown, PEBA’s Director of Policy and Governance.

You are invited to watch a recording of the town hall.

You are also invited to review answers to the most frequently asked questions.

February 27, 2023

Online Town Halls

Online town halls were scheduled on February 23 and February 24 to provide members with information and updates on PEBA’s progress toward a new operating structure as a not-for-profit corporation at arm's length from the Government of Saskatchewan. The plans that PEBA administers, including MEPP, will not change, and members can expect the same great service and support they're accustomed to.

The Chair of the MEPP Commission, Rod Quinton, and Tricia Brown, Director of Policy and Governance for PEBA, walked attendees through the changes and what they will mean for the organization going forward. There was also an opportunity for attendees to ask questions. 

The town halls were recorded and a video of the recording will be posted here soon. Check back for that and for future town hall announcements.

May 20, 2022

The Public Employees Benefits Agency (PEBA) is pursuing a new operating structure as a not-for-profit corporation separate from the Government of Saskatchewan.

Why is this change being made?

“PEBA is one of the last provincial government agencies in Canada that administers pensions on behalf of pension plan boards,” PEBA Assistant Deputy Minister, Jeremy Phillips said. “The boards of the largest pension plans PEBA administers requested the Government facilitate this change, so it has been initiated.”

This effort was conceived and spearheaded by the Municipal Employees’ Pension Commission (MEPC, the Commission), with 26,000 members and $3 billion in assets and the Public Employees Pension Board (PEPB, the Board), with 67,000 members and approximately $12 billion in assets. They will jointly own the new not-for-profit corporation, which will continue to be based in Regina.

“The Canadian pension plan landscape continues to evolve,” MEPC chair Ashley Stradeski said. “Our Commission is excited about moving toward Canadian best practice.”

Will I be impacted by this change?

There will be no changes to the pension and benefits plans that PEBA manages. Members and participating employers will not be impacted in any way. Similarly, there will be no changes that affect PEBA employees during this transition. Salaries, benefits, and union affiliations will not be impacted.

When will this change happen?

PEBA has been and continues to work with the Government of Saskatchewan and expert consultants on the design and transition to the new governance and operating structures.

In 2022, a legislative process will begin to allow PEBA to operate as a not-for-profit corporation, separate from the Government of Saskatchewan. It is anticipated this transition will be complete by 2024.

What if I have questions?

Please review the Steady. Trusted. Future Ready. - MNP Report. If you have questions about this change after reviewing the report, please contact a Pension Information Officer at 306-787-2684 or toll-free at 1-877-506-6377.