BCSPS Update on the Multi-Sector Pension Plan

Dear PEA members,

I am are writing to advise you that the Multi-Sector Pension Plan (MSPP), the pension plan that PEA-BCSPS members participate in pursuant to your collective agreement, has provided notice to the PEA of its intention to convert to a target benefit plan effective January 1, 2027.

According to the notice received from the MSPP Board of Trustees, this proposed conversion does not change plan contributions or benefits. The MSPP advises that the target benefit framework is intended to clarify the rules governing the plan and enhance governance oversight. The conversion would also place the plan under the permanent target benefit funding framework established under Ontario pension legislation.

The MSPP has advised that it expects to apply for approval of the conversion in fall 2026. If approved, the plan will provide further communications directly to members regarding the change.

If you have questions regarding the proposed conversion, the MSPP has identified the following contact:

Alain Malaket
Chief Executive Officer, InBenefits
905-747-5140
amalaket@inbenefits.ca

In solidarity,

Laura Jeffreys
Labour Relations Representative