The MSBA Pension Plan (“Pension Plan”) has been established as a group pension plan for its eligible employees of participating employers to provide assistance in achieving financial security during your retirement years. A Board of Pension Trustees is your Plan Administrator. As the Plan Administrator, the Board is responsible for the overall operations, administration, and governance of the Pension Plan. The Board of Pension Trustees is comprised of representation from the sponsoring association, the Manitoba Association of School Business Officials, and employee groups.
The MSBA Pension Plan is a Defined Contribution (DC) Pension Plan, which means your benefit upon retirement is your accumulated account balance (i.e., Employer plus employee, and any Voluntary Member contributions, if applicable, accumulated with any applicable investment income). The investment income is based on the net rate of return earned by the Pension Plan’s investments.
The provisions are governed by both the plan documents and government pension legislation, the Office of the Superintendent – Pension Commission, Manitoba (“Manitoba Pension Commission”). The provisions are governed by the Plan Text and provincial government pension legislation overseen by the Manitoba Pension Commission.
The Pension Plan was established in August 1974 and has thirty-three participating school divisions with 9,879 (as of December 31st, 2023) active contributing employee members. The Plan has assets of approximately $790 million (2023), and is registered under both the Income Tax Act and The Pension Benefits Act (Manitoba).
The following documents will help you better understand your plan. They contain all the necessary information and details. We recommend downloading a copy to comprehend your pension plan and fully prepare for the future.
To submit your forms, find the form you need in the list provided and carefully follow the instructions. Please note that we accept submissions via email or fax, but it is important that your forms have a wet (ink) signature for them to be processed. At this time, we do not accept electronic or digital signatures.
The Application for Pension Plan Membership is also available through your Participating Employer.
Your eligibility for membership in the Pension Plan depends on the following:
The YMPE is set by the federal government each year. Find information on the current YMPE clicking here.
It's simple. You need to complete an application form, which you can get from your participating employer's office or download it here (PDF).
It is very important that you complete your Application form as soon as possible so your pension contributions can commence once you become eligible. The information collected through the membership application process is required for Pension Plan administration, contribution collection, and retirement benefit payment.
Exemption from joining the Pension Plan Exemption from joining the Pension Plan is possible under certain circumstances. If you are a member of a religious group with an article of faith that prevents pension plan membership, or if you are a student on a substantially full-time basis, you can request an exemption. Simply contact your Participating Employer to request the exemption form.
The required pension contributions from you and your Participating Employer are equally shared. Effective January 1st, 2019, you must contribute eight percent (8%) of your earnings each year. Before 2019, each year, you were required to contribute a percentage of earnings minus what you contributed to the Canada Pension Plan; this percentage varied according to your age. You must cease contributions and membership in the Pension Plan by the end of the calendar year when you reach age 71.
Note: Once you have become a member of the MSBA Pension Plan, you must continue to contribute based on your earnings even if you become a non-full-time employee and your earnings drop below 25% of the YMPE (Year's Maximum Pensionable Earnings).
The Plan permits additional voluntary contributions by payroll deduction. Your Participating Employer will not match these additional voluntary contributions. If you're interested in making additional voluntary contributions, you can do so by contacting the payroll department at your Participating Employer. Similarly, if you wish to stop these contributions at any point during the year, you can notify your Participating Employer.
By making voluntary contributions to the Pension Plan or contributing to an RRSP (Registered Retirement Savings Plan) throughout your working career, you can benefit from immediate tax advantages at a time when your income may be the highest. Investment earnings from your Pension Plan are tax-sheltered until withdrawal, making it a smart financial move.
It's important to manage your contributions responsibly. You are responsible to ensure that you do not over contribute to the Plan based on the allowable maximum contributions into registered retirement plan under the government rules under the Income Tax Act. The annual limit for pension contributions is the lower of 18% of your current year's pensionable salary or the annual maximum ($32,490 for 2024).
As a Registered Pension Plan member, your pension contributions will impact your RRSP room by lowering the amount of contribution room available. Your annual limit for RRSP contributions is found on your annual Notice of Assessment (the letter you receive from the Canada Revenue Agency, CRA, after you file your tax return). The RRSP contribution limit is the lesser of 18% of earned income from the preceding year or the annual maximum ($31,560 for 2024). If you have not contributed the maximum amount to your RRSP annually, any unused contributions will increase your RRSP contribution limit but not your contribution limit with the Pension Plan.
The Member Portal is an online tool where you can:
Have a question about your pension plan? Check out our Help & FAQs to learn more about it.
Learn how to register and navigate through the member Portal.
Learn how to estimate the amount of possible monthly retirement pension payable to you from the pension plan based on your expected retirement date.
