Saskatchewan’s PEBA outsourcing asset servicing for DB plans

Saskatchewan’s Public Employees Benefits Agency is engaging CIBC Mellon to provide global and domestic custody, institutional accounting and securities lending.

Through the partnership, the PEBA will use BNY Mellon global risk solutions’ data and analytics tools for its performance and compliance reporting for the defined benefit pension plans administered by the PEBA — the public employees’ pension plan and the municipal employees’ pension plan.

Read: What are best practices for pension funds investing in illiquid assets?

“As a government agency, it is PEBA’s mission to foster financial wellness and provide valuable pension and benefit services as we serve our plan members,” said Gary Hutch, executive director of investment services for the PEBA, in a press release. “CIBC Mellon’s data solutions and approach to partnering with us right from the beginning were key factors for us in recommending them as our custodian to the plans we support.”