These proposed changes to the police pension would save city $12M a year, says report

WINNIPEG -- The City of Winnipeg may be moving forward with changes to the police pension, reducing costs by millions of dollars.

A report going before the mayor’s executive policy committee next week says the proposals to the pension bylaw would save taxpayers $12 million a year.

“The Winnipeg Police Pension Plan is one of the most expensive pension plans in Canada, requiring significant financial support from the City,” states the report.

Starting in January, the report says police overtime will be removed from pensionable earnings. Mayor Brian Bowman campaigned on that provision.

Police employees will now have to contribute 11.5 per cent of salary to the pension plan, up from 8 per cent. At the same time city contributions will be lowered from 18.48 per cent to 11.5 per cent.

The report says early retirement provisions will also change, including a reduction in pension if retirement occurs before age 55 or 60, if service is less than 20 years. A bridge benefit between retirement and age 65 is also being eliminated.

The report says the city has met with the Winnipeg Police Association since 2016 to discuss the pension plan with “no resolution to the city’s stated objectives.”

City council must approve the changes.