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.
The PSSP’s investments for fiscal year-end (March 31, 2022) achieved a positive rate of return of 5.56%, net of investment fees. The TPP’s investments for fiscal year-end (December 31, 2021) achieved a positive rate of return of 9.63%, net of investment fees. The returns were above the respective benchmarks for both plans.
“The Board is proud of NS Pension staff and very appreciative of their hard work in maintaining a high level of service for plan members and preserving and enhancing plan assets in difficult times. We would like to recognize their dedication and commitment,” added Mr. Tompkins and Mr. Carter. “It is through their efforts that all of our annual priorities were met in 2021-2022.”
While demographic challenges for the PSSP and the TPP continued, the membership number for each plan grew. The PSSP membership stood at 41,258 as at March 31, 2022, an overall increase of 1,394 from the year before. The TPP membership stood at 33,574 as at December 31, 2021, an overall increase of 573 from the year before. NS Pension continued its support of the Trustee of the PSSP in its initiative to achieve membership growth. NS Pension also supported the Trustee and Sponsors of the TPP in their ongoing work to improve the TPP’s funded health. To read the full 2021-2022 Annual Report, visit our website at:
* Based on data as at March 31, 2022 for the Public Service Superannuation Plan, and as at December 31, 2021 for the Teachers’ Pension Plan.
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For more information, contact:
Senior Communications Advisor
Conseillère principale en communication
Nova Scotia Pension Services Corporation
Société des services de pension de la Nouvelle-Écosse
P: 902-429-6432 | firstname.lastname@example.org | https://www.novascotiapension.ca/