We’re very pleased to share our 2019 Annual Report. We remained focussed on achieving our corporate objectives and strategic directives in 2019, and our Annual Report is a celebration of the progress we made.
- We completed the second year of our three-year Strategic Plan and continued improving our system security.
- We took steps to enrich the plan member experience by meeting our established service standards, introducing plan member surveys, and guiding plan members through the transition period.
- We made great strides in implementing the results of the 2018 asset liability study and saw investment returns of 15.68% (net of investment fees).
- We improved our partnership with participating employers, who play a crucial role in connecting us with plan members.
Our 2019 Annual Report also provides details on the financial health of the Plan and a review of our investment activities.
The PSPP Fund (the Fund) experienced positive returns in 2019. The major rebound that occurred in most asset classes resulted in the PSPP earning a rate of return, net of management fees, of 15.68%, which is substantially above the 6% discount rate. These favourable market conditions resulted in the Fund adding over $1 billion to its total value, resulting in our invested assets reaching $7.6 billion. Including the Government’s promissory note, the assets available for benefits increased to $10.1 billion, resulting in the Fund ending the year with a funded ratio of 102%. This represents an increase of over 6% compared to last year’s value of 94.1%. While highly encouraging, we must anticipate that over the coming years, with normal market fluctuations, the funding ratio will vary.
Click here to read the full report.