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peba changes (May 2022)
PEBA is pursuing a new operating structure in order to better serve its pension plan members and employers – as a non-profit corporation, separate from the Government of Saskatchewan.
PEBA is one of the last provincial government agencies in Canada that administers pensions on behalf of pension plan boards. Almost all other provincial plans are administered by an arms-length organization.
This effort was conceived and spearheaded by the governing bodies for the two largest pension plans that PEBA manages: the Public Employees Pension Plan (PEPP), with 67,000 members and $12 billion in assets; and the Municipal Employees’ Pension Plan (MEPP), with 26,000 members and $3 billion in assets.
PEBA will remain a Saskatchewan-based entity, with its office in Regina.
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. There will also be no changes to PEBA’s relationships with its valued business partners and service providers.
In 2022, a legislative process will begin to allow PEBA to operate as a non-profit corporation, separate from the Government of Saskatchewan. It is anticipated this transition will be complete by 2024.
If you have any questions about this initiative, please reach out to PEPP at 306-787-5442 or toll-free at 1-877-275-7377.