As at December 31, 2022
$10.8B
Net assets
103.3%
Funded status with a $0.4B funded surplus1
5.45%
Discount rate
$551M
total pension benefits paid in 2022
1 On a smoothed asset basis
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:
Our approach combines focused investment strategies at the asset class level with sophisticated asset allocation, risk, liquidity, and ESG2 management at the total fund level.
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.
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