The transition of Saskatchewan’s Public Employees Benefits Agency (PEBA) to a not-for-profit corporation at arm’s length from the government of Saskatchewan has passed its final hurdle.
The transition of Saskatchewan’s Public Employees Benefits Agency (PEBA) to a not-for-profit corporation at arm’s length from the government of Saskatchewan has passed its final hurdle. ‘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).
As a non-profit, it will strengthen and streamline governance and align with Canadian best practice in the pension industry.
There will be no changes to the pension and benefits plans that PEBA manages. They will continue to operate in exactly the same way, and will continue to be overseen by their respective boards. For members, their contribution rates, entitlements, and services are not changing in any way.
It will have a contract with the government which will continue to fund member pensions.
It will begin operations as a non-profit on January 1, 2024 under the name Plannera Pensions and Benefits. The name reflects PEBA’s ongoing commitment to helping members successfully plan for retirement.
