The Fund

The Balanced Fund (the "Fund") holds individual accounts of members of the Money Purchase and Combination Pension Plans.  These accounts include contributions of members and the University, as well as net investment returns. 

The Fund is invested in accordance with the requirements of applicable legislation and is held and managed separate and apart from other University funds. A Pension Board oversees the investments and the financial management of the Plans.  Please refer to the Governance section of this website to find out more. 

Members have a direct interest in the performance of the Balanced Fund, since the net returns directly affect members’ account balances.  The following unaudited performance Report (PDF) is updated each month, by the end of the following month. 

The Statement of Investment Policies and Procedures

The Pension Board has established a Statement of Investment Policies and Procedures (the "Policy") to formulate those investment principles, guidelines and monitoring procedures that are appropriate to the needs and objectives of the Fund. It is reviewed at least annually, and sets out the categories of permitted investments, diversification, asset mix and rate of return expectations. 

The Policy provides for the prudent investment of the Fund. The main long-term investment objectives set by the Pension Board, and accepted by the Plans' investment managers, are to secure the obligation of the Plans and the University for pension benefit payments and to earn an appropriate return on investments. Because the Money Purchase Pension Plan is a defined contribution plan, this means balancing the need to preserve members' assets with the pursuit of long term investment returns.  The Balanced Fund is invested with the objective of earning a net rate of return that exceeds a benchmark rate of return over rolling four-year periods.  

For more information on investments, including asset mix, annualized rates of returns, investment managers, and more, please refer to the Annual Report.

Statement of Investment Beliefs

The Pension Board has developed the Statement of Investment Beliefs to guide decisions and investment decisions for the Combination Pension Plan and the Money Purchase Plan. This document may be viewed here.