Manitoba – Benefits Canada.com

Canadian jurisdictions enacting pay transparency legislation, but more work to be done

bwolfe — Tue, 21 Nov 2023 14:00:14 +0000

Pay transparency legislation is quickly gathering steam in Canada as provincial governments take steps towards shrinking the gender wage gap. Prince Edward Island was first to the post with pay transparency provisions in June 2022. While Newfoundland and Labrador’s Pay Equity and Transparency Act received royal assent in November 2022, its pay transparency provisions haven’t […]

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Amendment to Manitoba pension legislation providing flexibility for beneficiary designation

Sadie Janes — Thu, 08 Jun 2023 13:00:55 +0000

An amendment to Manitoba’s Beneficiary Designation Act allows a pension plan member’s legal representative to now make a beneficiary designation on behalf of the member if they can’t make the designation themselves. However, the representative can only designate a beneficiary if the plan renews, replaces or converts a plan made by the participant and the same […]

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Manitoba, NL formally join multi-jurisdictional pension plan agreement

Gideon Scanlon — Tue, 16 May 2023 16:30:43 +0000

Manitoba and Newfoundland and Labrador have officially ratified an agreement on multi-jurisdictional pension plans, which will come into effect on July 1. In March, the two provinces announced their intention to sign the agreement, which had previously been adopted by every other province except Prince Edward Island. The agreement’s adoption was contingent on an amended […]

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NL permitting electronic naming of beneficiaries for pensions, retirement plans

bwolfe — Fri, 10 Jun 2022 19:00:50 +0000

Pension and retirement plan members in Newfoundland and Labrador can now designate beneficiaries through electronic means. The amendment allows individuals to name beneficiaries electronically for certain types of plans, including a workplace pension, retirement, welfare or profit-sharing fund or plan, a registered retirement income fund, a registered retirement savings plan or a tax-free savings account. […]

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Manitoba premier wants management of public sector pensions merged

mschmit — Tue, 17 Dec 2019 05:28:35 +0000

Manitoba Premier Brian Pallister is calling for a merger of management services for the province’s public-sector pensions. Pallister says he’s not suggesting the funds themselves merge — only that they be managed as a group. He says a much larger pool of funds would be subject to lower management fees, and that could save roughly […]

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Getting delegation right at Manitoba’s Teachers’ Retirement Allowances Fund

mschmit — Thu, 28 Nov 2019 04:53:12 +0000

Since the Teachers’ Retirement Allowance Fund, which is the defined benefit pension plan for public school teachers and other eligible employees in Manitoba, was introduced in 1925, it has made significant strides around asset mix and governance. In the early days, the fund’s asset mix consisted largely of federal, provincial and municipal bonds, but in […]

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