COVID-19 Communication Centre

Member Meetings
We are back! You can now book one on one meetings with our pension professionals. All staff and visitors must adhere to the Government of Saskatchewan's interim mandatory masking order. Thank you for your patience as we navigate these changes. Stay safe.

Workshops for Members We are offering online and in-person workshops and presentations. We’d love to see you. Register for one of our workshops to learn about your pension plan, retirement planning for any stage of life. Register now

Update March 26, 2021

The Financial and Consumer Affairs Authority (FCAA) issued a statement indicating that effective March 24, 2021, the Superintendent has revoked its earlier decision on Commuted Value (CV) transfers and provided pension plan administrators with new guidelines. Effective March 24, 2021, the freeze on CV payments has been lifted and holdbacks on CV transfers will be based on the solvency ratio determined in the most recently filed actuarial valuation report.

Timeline of changes to CV transfers

March 2021

The Superintendent of Pensions lifted the freeze and required plans to revert to a holdback rate based on the last filed valuation. For MEPP that is a 9.5% holdback. This rate is to be used for all payments made on or after March 24, 2021, until a new valuation is filed.

June 2020

The Commission requested an exemption from the CV transfer freeze. A condition of the exemption was to apply a holdback rate of 22% to all CV transfers. This rate was based on a March 31, 2020, estimated valuation and replaced the holdback rate in place at that time.

April 2020

All commuted value transfers from MEPP were temporarily suspended under direction from the FCAA.

I received a payment and it had a 22% holdback, can my payment be adjusted?

No. Payments made prior to March 24, 2021, can not be adjusted. The holdback amount will be paid out to you with interest within 5 years of the original payment.

I already received a payment estimate, should I assume MEPP will use the new rate?

Yes. If your payment was made or is being made after March 24, 2021, MEPP will use 9.5% as the holdback rate. If you have questions, please contact us.

Will this affect my monthly pension payment that I am receiving from MEPP?

No, this will not affect your MEPP pension payment. Monthly pension payments are not subject to a holdback and you will receive your regular payments as scheduled.

For more information please contact MEPP at:

mepp@peba.gov.sk.ca
Toll Free: 1-877-506-6377
Phone: 1-306-787-2684
Fax: 1-306-787-0244

 

 

 

August 27, 2020

To MEPP’s valued members, thank you for your patience during these past months. As the COVID-19 public health emergency changes, we wanted to share with you how MEPP is beginning the process of slowly returning to normal business operations in accordance with the guidelines outlined in the Province’s Re-open Saskatchewan Plan.

MEPP represents over 25,000 members and over 700 employers across Saskatchewan. In order to continue to support MEPP we are taking a similar approach to the Province’s Plan. We are methodically phasing-in a plan to slowly lift restrictions on our business and services that have been directly impacted by the pandemic. I want to assure you that although the Agency is moving back to more traditional ways of doing business, we are following the guidelines and recommendations as set out in the Plan. The health and well-being of our members and staff continues to be of utmost importance to us. I would like to highlight for you some of the business operations already in place and some that will be starting shortly:

  • We have re-located our main reception area and meeting rooms to the main floor of 1801 Hamilton Street in Regina, to eliminate the need to use the building elevators. For your convenience, reception is currently open for drop off and pick up only at this time.
  • In-person meetings with our Pension Information Officers and Retirement Information Consultants will be offered starting September 1. We look forward to seeing you soon!
  • We are now offering our popular Your Path to Retirement Workshops virtually, and will soon be offering our in-person workshops once again. All currently scheduled workshops can be found on our website under the Plan’s home page.
  • Lastly, we will continue to offer members the option to have appointments over the phone or through video.

The Public Employees Benefits Agency (PEBA), which MEPP contracts to administer your pension plan, has implemented the best practices of business continuity processes and will remain prepared to serve our members at all times; our methods of support may need to change depending on the direction we receive from the Government of Saskatchewan and Public Health Officials, but we will continue to provide exceptional service to our plan members and stakeholders.

I would also like to remind you of the excellent resources on the pandemic that are available to you at www.saskatchewan.ca/coronavirus, the Government of Saskatchewan’s dedicated webpage on COVID-19. It includes the most up-to-date information and guidance for all Saskatchewan residents.

Please do not hesitate to contact PEBA if you have any questions about your pension plan. We recognize that this may be a prolonged effort, and wanted you to be fully aware of MEPP’s commitment to continue serving you during this time.

Sincerely,

Randy Hurd, Commission Chair Municipal Employees' Pension Plan

August 20

To PEBA’s valued members and stakeholders,

To PEBA’s valued members and stakeholders, thank you for your patience during these past months. PEBA proudly serves 100,000 members and over 900 employers across numerous pension and benefit plans in Saskatchewan. I want to share with you how PEBA is beginning the process of returning to more normal business operations in accordance with the guidelines outlined in the Province’s Re-open Saskatchewan Plan.

I want to ensure you that although the Agency is moving back to more traditional ways of doing business, we are following the guidelines and recommendations as set out in the Plan. The health and well-being of our members and our staff continues to be of utmost importance to us.

I would like to highlight for you some of the business operations already in place and some that will be starting shortly:

  • We have re-located our main reception area and meeting rooms to the main floor for your convenience and to eliminate the need to use the building elevators. Reception is currently open for drop off and pick up only at this time.
  • In-person meetings with our Pension Information Officers and Retirement Information Consultants will be offered starting September 1. We look forward to seeing you soon!
  • We are now offering our popular Your Path to Retirement Workshops virtually, and will soon be offering our in-person workshops once again. All currently scheduled workshops can be found on our website under the Plan’s home page.

PEBA has implemented the best practices of business continuity processes and we remain prepared to serve our members at all times; our methods of support may need to change depending on the circumstances but we will continue to provide exceptional service to our plan members and stakeholders.

I would also like to remind you of the excellent resources on the pandemic that are available you to seek out information on www.saskatchewan.ca/coronavirus, the Government of Saskatchewan’s dedicated webpage on COVID-19. It includes the most up-to-date information and guidance for all Saskatchewan residents.

Please do not hesitate to contact us if you have any questions about your pension or benefit plans. We look forward to serving you.

Sincerely,

Dave Wild Associate Deputy Minister Public Employees Benefits Agency

This report provides a summary of activities undertaken related by the Municipal Employees' Pension Plan with respect to the COVID-19 pandemic. You can read the report here.

We understand your concern about your pension and about markets. We are monitoring global equity markets and the historic nature of current world events. While past history does not always repeat itself, over the long term markets typically perform well following downturns.

The current market and economic volatility is due to the greatest pandemic challenge in a century. Global economies and financial markets will see significant headwinds until the spread of the pandemic itself has been slowed and stabilized.

1. Does this drop in investment markets impact my MEPP pension?

The recent drop in the investment markets due to the Covid-19 virus, elections, and uncertain economic conditions has no impact on your pension amount at retirement. Your MEPP pension is a defined benefit pension plan, which means your pension is based on a formula – NOT how investments are performing. In depressed investment market situations like we are in at the moment there is no impact on your future pension benefit.

Your pension is calculated using this formula:

HIGHEST AVERAGE SALARY X YEARS OF PENSIONABLE SERVICE X ACCRUAL RATE.

For more information on calculating your pension please see MEPP In-Depth on Pension Calculations and the MEPP Member Booklet. Both are posted on the MEPP website.

2. What is MEPP doing to protect the assets of the Plan during this market downturn?

The Municipal Employees’ Pension Commission has an excellent and diverse portfolio of investment firms from around the globe to manage the Plan’s investments. The Public Employees Benefits Agency (PEBA) as Plan administrator has a team that is regularly talking to the MEPP fund managers discussing the investments, opportunities, strategies and investment mandates.

 

You can contact us at:

mepp@peba.gov.sk.ca
Toll Free: 1-877-506-6377 
Phone: 1-306-787-2684
Certified Financial Planners, Retirement Information Consultants: 306-787-3170

COVID-19 Resources

Government of Saskatchewan