News - Pension

Amendments to the Pension Benefits Act (PBA) through bill 8 and accompanying regulations will modernize the legislation and create a framework that protects individuals in times of financial hardship and provides greater and easier access to locked-in funds.

In a move that will create better returns for pensioners through reduced investment management fees and provide increased pension security for public servants, the government has challenged Manitoba public-sector funds to buy their investment management services together as a group.

The Pension Commission of Manitoba has reviewed the province’s pension laws in an initiative to update and strengthen the existing pension system.