A conversation that began two years ago about the importance of a pension plan’s funded status in keeping the pension promise made to members remains “the foundation” of retirement security and success measures, says OPTrust’s President and CEO.
“In 2016, we started a conversation with our industry, our sponsors and our members about what we thought mattered most as a pension plan. Our answer hasn’t changed: the Plan’s funded status. It is the foundation on which secure, sustainable retirement futures rest, and when gauging the success of a defined benefit pension plan, it is the measure that matters,” Hugh O’Reilly says in the plan’s 2017 funded status report.
The plan rebranded its annual report to the funded status report in 2016 to reflect the determination that it’s the funded status that matters to the secure provision of adequate retirement income. Its 2017 report shows it to be fully funded, with a net investment return of 9.5 per cent.
OPTrust received a nine out of ten satisfaction rating from its more than 92,000 members, and an A-plus for its approach to responsible investing from the Principles for Responsible Investment (PRI) organization. Its president and CEO received a CORPaTH Crystal Globe award, in acknowledgement of OPTrust’s ongoing efforts to promote defined benefit pension plans globally.
“OPTrust exists to serve its members. In 2017, we were honoured to be ranked by CEM Benchmarking as one of the top-ten defined benefit pension plans globally for the quality of service we provide to our members … we are particularly proud of our results this year as our Member Services team dealt with significant, high volume projects such as the optional enrolment for the post-retirement insured benefits upgrade packages,” says O’Reilly.
To read the report, click here. For an ARIA interview with O’Reilly on keeping the pension promise, click here.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapension

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