2020 Annual Report

We’re pleased to release our 2020 Annual Report. In a year of vast uncertainty, Provident10 not only weathered the COVID-19 storm, but we also rose above.

The resilience and the financial health of the Public Service Pension Plan (PPSP) continues to propel Provident10 to be a sustainable fund that can deliver on its promises. To this end, we are pleased to report that the PPSP Fund exceeded the 9.2% policy benchmark in 2020, earning a rate of return of 11.9%. The Fund ended the year with a funded ratio of 101%.

Despite the instability in the market, and the evolving global crisis of the COVID-19 pandemic, the people of Newfoundland and Labrador, including all staff of Provident10, united together to ensure safety and security for all in this province.

The past year was filled with trepidation, uncertainty, and loss. Many of our members stood on the front lines of this pandemic, serving our fellow neighbours during a time of immense uncertainty. We sincerely thank each and every one of them for the continued work they do for this great province.

Retirement security is critical for the economic future of this province and we are proud to govern the largest public sector pension plan in Atlantic Canada.

The year ahead continues to bring uncertainty, but when you need assurance or answers, Provident10 will be there.

We invite you to take the time to review our 2020 Annual Report and provide your feedback through our survey.

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