Letter from the chair of the Municipal Pension Plan Board of Trustees: December 31, 2020

Plan partners sign agreement on plan changes.

The plan partners announced December 31, 2020, they have come to an agreement on changes to the Municipal Pension Plan. We understand they will send a copy of the agreement to the Municipal Pension Board of Trustees in 2021. We will complete our review of the agreement in March 2021. You can read the plan partners’ announcement on their website, mppredesign.ca.

The plan partners are responsible for overseeing the plan’s design and approving an agreement that directs the board to amend the plan rules and implement the changes.

The board is responsible for making sure amendments are in line with legislative and trust requirements and our fiduciary duties. We will complete this work by our next board meeting in March 2021.

We welcome the news that plan partners have come to an agreement that will enhance the plan’s sustainability for each of you. We will share details on the plan website after our March meeting. Changes will go into effect January 1, 2022.