On June 1, 2023, the Government of Nova Scotia reported that the personal information it holds on file for some Nova Scotians was taken as part of a global security breach through a file transfer service called MOVEit. This system allows information to move efficiently within government and to outside partners.
Halifax, NS – April 27, 2023 – Nova Scotia Teachers’ Pension Plan Trustee Inc. (TPPTI) announced today that the Teachers’ Pension Plan’s (Plan) funded status at the end of 2022 decreased to 75.1% on a goingconcern basis, compared to 82.5% at the end of 2021. The decrease in the funded ratio year-over-year was due to the asset losses in 2022 and to the fact that the Plan’s discount rate was maintained at 5.70%.
Halifax, NS – July 28, 2022 – Nova Scotia Pension Services Corporation (NS Pension) has released its 2021-2022 Annual Report (Report).
The Report states NS Pension finished its fiscal year on March 31, 2022 with over $13 billion in assets under management for the Public Service Superannuation Plan (PSSP) and the Teachers’ Pension Plan (TPP).* “The unique circumstances created by the pandemic underscored the importance of maintaining well-diversified assets and adhering to robust investment strategies,” stated NS Pension Board Co-Chairs, Keiren Tompkins and John B. Carter.
Halifax, NS – April 29, 2020 – John Rogers has been selected as the new Chair of the trusteeship that manages the pension plan for Nova Scotia teachers represented by the Nova Scotia Teachers Union (NSTU). The plan also includes school administrators and faculty and professional support staff at the Nova Scotia Community College. The appointment is effective July 1, 2020.
Halifax, NS – April 24, 2020 – Nova Scotia Teachers’ Pension Plan Trustee Inc. (TPPTI) announced today that the Teachers’ Pension Plan’s (Plan) net assets grew from $4.938 billion to $5.358 billion as at December 31, 2019. The funded status of the Plan at the end of 2019 increased to 78.2% on a going-concern basis, compared to 75.3% at the end of 2019.
Halifax, NS – April 29, 2019 – Nova Scotia Teachers’ Pension Plan Trustee Inc. (TPPTI) announced today that the Teachers’ Pension Plan’s (Plan) net assets were $4.938 billion as at December 31, 2018, down from $5.111 billion at the end of 2017. The funded status of the Plan at the end of 2018 decreased to 75.3% on a going-concern basis, compared to 78.4% at the end of 2017.
The Public Service Superannuation Plan (PSSP) and the Teachers’ Pension Plan (TPP) are no longer considered to be ‘related plans’.
Historically, TPP members have been prevented from contributing to the PSSP while receiving a pension benefit from the TPP. This was due to the plans being considered ‘related’. Today, the plans have separate Trustees. The Trustee for the TPP is the Teachers’ Pension Plan Trustee Inc. (TPPTI) and the Trustee for the PSSP is the Public Service Superannuation Plan Trustee Inc. (PSSPTI).