The Civil Service Superannuation Board

Time 2020-11-13 19:04:57

Web Name: The Civil Service Superannuation Board

WebSite: http://www.cssb.mb.ca

ID:114913

Keywords:

Civil,The,Service,

Description:

Home | Contact the CSSB Connect with us onPensionersMore infoFormsCost-of-Living AdjustmentsYour Group InsurancePension Payment DatesSeparation of RelationshipMore infoEmployeesCeasing EmploymentNew EmployeesThinking of Retiring?NewslettersGroup InsuranceSeparation of RelationshipMore infoInvestmentsOur Investment TeamAsset MixPerformanceTop HoldingsOverviewMore infoOther InformationOther Plans AdministeredAbout the CSSBCareersMoney Purchase PlanPublicationsDeferred AccountsMore infoMember ServicesPreRetirement SeminarsOnline ServicesOne-on-One SeminarsIn-Office ServicesEmployee Pension and Insurance SeminarsMember NewsJuly 2020 Pension Payments Include 2019 Cost-of-Living IncreaseThe Board approved a 1.50% Cost-of-Living Adjustment (COLA) for eligible pension recipients, which will be included in the July 2020 pension payments.This increase is equal to 2/3 of the increase in the Canadian Consumer Price Index for 2019, which was 2.25%.A history of CSSB COLA percentages since 1977 can be foundhere.This increase also applies to eligible members with a deferred account.The actuary has continued to express concern that, unless changes are made, the Account will not be able to meet the target of granting additional COLA’s each year at the rate of 2/3 of the increase in the Consumer Price Index. The Board shares this concern.The Superannuation and Insurance Liaison Committee, which represents plan members in negotiating plan benefits, is studying the sustainability of the COLA Account.Read MoreCSSB 2019 Annual Report is now available!The 2019 CSSB Annual Report is now available in the Publications section.Read MorePotential Changes to the Civil Service Superannuation ActBill 43,The Civil Service Superannuation Amendment Act, is currently being considered in the Manitoba Legislature. If passed, the amendment will affect the calculation of termination lump sum benefits and will extend the timeline to purchase service for periods of maternity and parental leave. See detailshereRead More◄1/24►Please reloadChanges to the Civil Service Superannuation Act- October 15, 2020Bill 43, The Civil Service Superannuation Amendment Act, received Royal Assent in the Manitoba legislature on October 14, 2020.This Bill changes 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 theanticipated 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).For additional information, click here.COVID-19 Update - October 1, 2020The Civil Service Superannuation Board is continuing to maintain physical distancing measures to help reduce the spread of COVID-19. Our office will remain closed to the public and all in-person meetings will be cancelled until at least the end of October 2020. The situation will be reassessed in early November.In person seminars will be cancelled for the remainder of 2020.We'll be happy to continue to assist you by telephone or email.See details hereThe Civil Service Superannuation Board of ManitobaMember-focussed - Future-focussedHomeEmployeesPensionersMember ServicesInvestmentsEmployer InformationMoreGo to CSSB Online ServicesAccessibility InformationOnline member services and website information provided by the Civil Service Superannuation Board relate almost exclusively to the Civil Service Superannuation Fund and Public Service Group Insurance Fund plans.Any information on other plans the Boardadministersor for which it provides services would be identified assuch, and only information identified as such or in an identified document applies to that particular plan. We recommend you get detailed personalized information from the Board before making any decisions.This website is meant to summarize our available information, requirements, procedures and policies on a general basis only.All persons making use of this site are reminded that The Civil Service Superannuation Act and its Regulations should be consulted for specific legislative requirements.© 2020by CSSB Communications

TAGS:Civil The Service 

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The CSSB administers the defined benefit pension plan for employees of the Province of Manitoba and its related Boards and Commissions.

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