Overview of Funding Changes Arising from Manitoba Bill 8 ‒ The Pension Benefits Amendment Act
with Jared Mickall, Wealth Leader Winnipeg Office – Mercer
The Government of Manitoba passed the remaining elements of Bill 8 ‒ The Pension Benefits Amendment Act with an in force date of December 20, 2021. The remaining elements primarily relate to the funding of defined benefit pension plans and include:
- The introduction of Solvency Reserve Accounts
- Reform of defined benefit funding rules
- Changes to use of surplus
Jared will provide an overview of the funding changes, how they apply to different types of plans, and commentary.