MEPP Matters online at www.peba.gov.sk.ca Spring 2020

Your pension benefit is not impactedWe understand your concern about your pension and the investment markets. The current market and economic volatility is due to the greatest pandemic challenge in a century. Global economies and financial markets will see significant headwinds until the spread of the pandemic itself has been slowed and stabilized. So... we have had many calls from concerned members wondering how this situation impacts their pension. Here are two of the most frequently asked questions: 1. Does this drop in investment markets impact my MEPP pension?

The recent drop in the investment markets has no impact on your pension amount at retirement. MEPP is a defined benefit pension plan, which means your pension benefit at retirement is based on a formula – NOT how investments are performing. In depressed investment market situations like we are in at the moment there is no impact on your future pension benefit.

Your pension is calculated using this formula:

HIGHEST AVERAGE SALARY X YEARS OF PENSIONABLE SERVICE X ACCRUAL RATE.

For more information on calculating your pension please see the MEPP In-Depth on Pension Calculations and the Municipal Employees’ Pension Plan (MEPP) Member Booklet. Both are posted on the MEPP website.

2. What is MEPP doing to protect the assets of the Plan during this market downturn?

The Municipal Employees’ Pension Commission has an excellent and diverse portfolio of investment firms from around the globe to manage the Plan’s investments. The Public Employees Benefits Agency (PEBA) as Plan administrator has a team that is regularly talking to the MEPP fund managers discussing the investments, opportunities, strategies and investment mandates. We are monitoring global equity markets and the historic nature of current world events. While past history does not always repeat itself, over the long term markets typically perform well following downturns.

Certified finanCial Planner® professionals at no cost Yes! YOU have access to consultations with Certified finanCial Planner® professionals at no cost to you. At MEPP, we call them Retirement Information Consultants (RICs) and they are happy to meet with you to help answer your pension questions. Schedule a phone consult by calling 306-787-3170 or emailing ric@peba.gov.sk.ca. It helps to have your MEPP member statement handy. We’re here for you – and it costs nothing... so why not?

Members have expressed interest in wanting to do more online – guess what, we heard you! We are excited to introduce you to PLANet, the new online pension administration system for MEPP members and employers. Employers were introduced to PLANet in the fall of 2019 – now it’s your turn to enjoy all the benefits PLANet has to offer.

The new online member portal of PLANet is designed to provide you secure access to up-to-date information regarding your pension. Creating an easy experience for our members is our first priority. We’ve made accessing your pension information simpler by adding seamless functionality and quick menus to make it even easier for you to perform everyday tasks with a few simple clicks.

Here are some of the benefits you will receive with PLANet:

• Update your personal information quickly and easily online;• View your latest MEPP Pension Statement online; and• Direct access to MORe, your online retirement calculator.

This phase of PLANet will be available to active MEPP members. Excited to start using PLANet? Information on how to access PLANet will be sent to you soon – watch your mailboxes.

MEPP pensioners, stay tuned for information on when you too will have access.

As we continue to monitor Coronavirus (COVID-19) developments closely, the health and well-being of our members and staff is of utmost importance to us. Social distancing is advised by the Province as one thing we can all do to help protect ourselves and help contain the spread of the COVID-19 virus.

As per the pandemic guidelines:

• we have postponed all scheduled member workshops and presentations; and

• all member consultations will be done by phone.

As this pandemic evolves and the guidelines change, there may be additional changes to how we connect with members. Please check the website frequently for any updates. We will be rescheduling any planned large group meetings, workshops or presentations once the threat has passed.

Otherwise it is business as usual - contributions are being invested, pension payments are being processed and we are answering hundreds of phone calls each day.

We are here to help. Please contact us if you have any questions. We recognize that this may be a prolonged effort, and want you to be fully aware of our commitment to continue serving you. Thank you for your understanding.

We would also encourage you to seek out information on www.saskatchewan.ca/coronavirus, the Government of Saskatchewan’s dedicated webpage on COVID-19. It includes the most up-to-date information and guidance for all Saskatchewan residents.

COVID-19 Update to

MEPP MembersWorkshops postponed and no in-person visits

We’re upgrading to serve you better… announcing

In October, the Municipal Employees Pension Plan (MEPP) invited members to participate in a Member Satisfaction Survey. To those of you who took those precious few minutes to complete our survey – THANK YOU! There was a large increase in member participation this year (1,549 responses in 2019 compared to 656 in 2017)! Your responses are appreciated and will guide our next steps in member engagement.

Here are some quick results:

In regards to how MEPP members prefer to engage with the Plan, mail remains the preferred communication method by a sizeable margin. The MEPP Matters newsletter and the MEPP In-Depths are the most referenced MEPP information sources with face-to-face and social media being the least used.

MEPP members are very satisfied with their interactions with staff. In 2019, members said the quality of customer service was 92 per cent and quality of communication materials remains high at 84 per cent.

Plan statements are a highly used source of information and the survey shows 62 per cent review all or most of their member statements when they receive them with 67 per cent finding them easy to understand.

There are of course areas for improvement as only 39 per cent of MEPP members who responded to the survey know there are free workshops available to them. It is important to note that 71 per cent who did know indicated that the workshops are informative. With that being said, there are only 24 per cent who are aware they can meet with a Retirement Information Consultant (RIC) to discuss their retirement plan and 29 per cent of members are not aware there is a MEPP MORe planning tool available to them. However of those who did – 75 per cent find it informative.

A more detailed report of the 2019 MEPP Member Satisfaction Survey is available on the MEPP website. Partially driven by your feedback, work is underway on an improved online member account system, PLANet. Soon you will be able to perform functions beyond what you currently experience. Watch for more information on this benefit soon!

Member Satisfaction Survey results

Thanks again for participating in our 2019 Member Survey. The winners of the $100 gift cards are...Kim N. – Fox ValleyLorraine H. – Prince AlbertPatricia B. – Prince AlbertLorraine B. – AssiniboiaTina B. – Biggar

Percentage of members who participated in survey

6.05%

Quality of Customer Service 92%

Quality of Communications Materials

84%

Perceived value of events / workshops

72%

Perceived value of Plan website 75%

Perceived value of retirement planning tool

74%

Perceived value of online videos 57%

Congratulations! Your feedback is so

important to us.

Are you missing out?We hope not, because one of our goals is to provide you with information to meet your needs. That’s why we’re inviting you to follow us on Facebook and/or Twitter.

It’s easy to get on board. Here’s how:

Category Description

Purchase of service quotes First quote is free of charge. Additional quotes for the same period of service will be charged $30 per calculation.

Portability quotes First quote is free of charge. Additional quotes for the same period of service will be charged $60 per calculation.

Marriage breakdown calculations First calculation is free. Additional calculations will be charged $60 per calculation for the same period of marriage.

Pension calculations Two retirement estimates per year are free of charge. Additional estimates will be charged $30 per calculation.

Member administrative feesFees are outlined below:

This

news

lette

r pro

vides

gene

ral in

form

atio

n abo

ut th

e Pub

lic Em

ploy

ees P

ensio

n Plan

and

its o

pera

tion.

It d

oes n

o re

plac

e or s

uper

cede

the l

egisl

atio

n gov

erni

ng th

e Plan

.

Social distancing friendly - contact-free communications!Sign up for e-comm today. E-comm sends you email notifications that Plan news is available online. Some of the other advantages of electronic communication is that it saves paper and postage, less clutter to deal with on the counter at home and most importantly now-a-days – no physical contact. Sign up for e-comm by clicking on the icon at the bottom of the MEPP homepage.

Member statements are out

MEPP member statements were mailed in May. Please contact us if you did not receive yours.

We may not have your current mailing address. You can contact Member Services by phone and email. Our office hours are: Monday to Friday, 8:00 a.m to 5:00 p.m.

@SaskMEPP/SaskMEPP