Pension

The Teachers’ Pensions Restricted Surplus Regulation, 2017 (M.R. 63/2018) was registered May 18, 2018, putting in place the regulatory authority necessary to disburse the restricted surplus equally over a five year period commencing July 1, 2018.  The regulation is consistent with the joint RTAM/MTS proposal which had been accepted by the TRAF Board and submitted to government as a proposed regulation in June, 2017.

The impact for 2018 of the enactment of the Teachers’ Pensions Restricted Surplus Regulation, 2017 (M.R. 63/2018) is that the previously announced COLA of 1.15% effective July 1, 2018 will now be increased to 1.35%.

Background:

  • The TRAF Board earlier approved a 1.15% COLA effective July 1, 2018.
  • The 2/3 of CPI cap that had been in place on the annual COLA since July 1, 2008 ceased to apply effective with the July 1, 2018 COLA.
  • At a February 2018 meeting with the Minister of Education and Training, RTAM was informed that, at the time, there were no plans to extend the provision for restricting the TRAF Cost of Living Allowance (COLA) implemented in 2008 which has now expired. The calculation of COLA reverts to the provisions in place prior to 2008 as per subsection 10(7) of The Teachers’ Pensions Act.

WHO WE ARE

Retirement is a time of transitions. Throughout your career you belonged to the Manitoba Teachers’ Society (MTS), but upon retirement you are no longer a member. The Retired Teachers’ Association of Manitoba (RTAM) exists to serve retired teachers. We invite you to join the growing number of RTAM members and enjoy the benefits of belonging.

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