Provident10 releases the 2021 Annual Report.
Provident10 is pleased to report that the Public Service Pension Plan (PSPP) Fund exceeded the 9% policy benchmark in 2021, earning a rate of return of 11.2%. The Plan ended the year with a funded ratio of 109.2%, an 8.2% increase year over year.
With the ongoing pandemic, staying dedicated to building a secure, stable future for members has continued to be challenging but of the upmost importance. Not only did Provident10 securely manoeuvre the year’s turbulence, the team adapted and remained unwavering in its commitment to over 55,000 members.
The achievements from investments run parallel with the success that the Provident10 team continued to sustain. From enhancing the member experience to advancing the maturity level of internal control and risk management frameworks, the organization made significant advancements in 2021, including the launch of it’s new five-year strategic plan, Now to Next: Our Path to 2026.
In a year that once again saw fluctuating markets, Provident10 was able to stay the course and remained focused on the future. The results from 2021 further demonstrate Provident10’s ability to deliver on its promise to provide a secure income to every member throughout their retirement.