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Our investment program has one goal – to deliver secure, stable pension income to our members today and tomorrow. We invest with sustainable pension security at the core of all we do.
As at December 31, 2023
10.2%
Annual rate of return1
$11.7B
in net assets up from
$10.8B in 2022
102%
Funded status with a
$0.2B funded surplus2
5.45%
Discount rate
$559M
Pension benefits paid to members
All figures as at December 31, 2023, and expressed in Canadian dollars unless otherwise noted.
1 Net returns are net of investment management and performance fees.
2 On a smoothed asset basis.
A purpose-driven investment strategy
Our fiduciary duty is to put members first and protect their pensions. Our in-house investment team carefully considers investment assets, opportunities, and risk through the lens of the Plan’s liabilities, striking a balance between three key objectives:
- Generate sufficient returns to keep the plan fully funded, ensuring we can pay members’ pensions for decades to come
- Keep benefit and contribution levels as stable as possible over time
- build resilient value in a changing world
3 Environmental, social and governance
Committed to transparency
Our investment of members’ pension earnings has bearing on their retirement security; they have a right to know how we approach and perform that responsibility. We commit to being open and transparent about our investment practices and the guiding policies that inform our approach.
Leading with sustainability
We know that environmental, social and governance (ESG) factors, such as climate change, will present material and evolving impacts over time and must be firmly embedded in our investment analysis and risk management.
Responsible investing — being the integration of ESG considerations into our investment processes and stewardship practices — helps us ensure we can fulfil our pension promise to generations of members while helping influence a resilient financial, social, and environmental future. This is essential for a pension fund with generational responsibilities — our ability to deliver sustainable value to current and future members relies on healthy, functioning systems.
- © 2024 University Pension Plan