Halifax, NS – July 29, 2021 – Nova Scotia Pension Services Corporation (NS Pension) has released its 2020-2021 Annual Report (Report).
The Report states NS Pension finished the year with almost $13 billion in assets under management for the Public Service Superannuation Plan (PSSP) and the Teachers’ Pension Plan (TPP).* “NS Pension successfully navigated through very turbulent waters in fiscal 2020-2021,” stated NS Pension Board Co-Chairs, John B. Carter and Keiren Tompkins.
The TPP’s investments for calendar year-end (December 31, 2020) achieved a positive rate of return of 6.78%, net of investment management fees. The PSSP’s investments for fiscal year-end (March 31, 2021) achieved a positive rate of return of 15.75%, net of investment management fees.
“The unique circumstances created by the COVID-19 pandemic underscored the importance of maintaining well-diversified assets and adhering to robust investment strategies,” stated Mr. Carter and Mr. Tompkins. “The Board is proud of all the efforts made by NS Pension staff to maintain a high level of service for plan members and to preserve and protect plan assets in the unprecedented market volatility presented by the pandemic.”
While demographic challenges for the PSSP and the TPP continued to mount, the membership numbers for both plans held steady. The PSSP membership stood at 39,864 as at March 31, 2021, an overall increase of 1,329 from the year before. The TPP membership stood at 33,001 as at December 31, 2020, an overall increase of 354 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 2020-2021 Nova Scotia Pension Services Corporation Annual Report, visit the Pension Services Corp. website at:
https://www.novascotiapension.ca/resources/year-end-reporting/annual-reports
* Based on data as at December 31, 2020 for the Teachers’ Pension Plan, and as at March 31, 2021 for the Public Service Superannuation Plan.
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For more information, contact:
Gisèle Taylor,
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 | taylorgd@nspension.ca | www.novascotiapension.ca