Bill 43, The Civil Service Superannuation Amendment Act, received Royal Assent in the Manitoba legislature on October 14, 2020.
This Bill changed the provisions of the Civil Service Superannuation Fund pension plan,and became effective immediately.
The majority of the amendments are minor housekeeping changes that update or clarify existing provisions of the Civil Service Superannuation Act (CSSA), however, three of the anticipated changes are more significant. The following changes were made at the joint recommendation of the Superannuation and Insurance Liaison Committee (representing employees) and the Employer Pension and Insurance Advisory Committee (representing employers).
- Revised Basis for Calculating Pension Commuted Values
- Extended Timeline for Maternity or Parental Leave Purchase
- Appointment of Employee Representatives on the Board
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