Results of the Public Sector Pension Investment Board (PSP Investments)for Fiscal Year Ending March 31, 2011

August 08, 2011 The Public Service Pension Advisory Committee, which is comprised of Senior Management and Bargaining Agent representatives, met on June 21, 2011, at Treasury Board for a presentation by PSP Investments. PSP Investments oversees the investment management of the Federal Public Service Superannuation Plan. The presentation was regarding the Public Sector Pension Investment Board 2011 Annual Report.
Highlights of the Performance Result as of March 31, 2011
Total net assets annual performance increased by $11.7 billion or 25% to $58.0 billion.
Investment income of $7.0 billion which represents a 14.5% annual performance, and 17.9% over a two (2) year period.
Special Examination
A special examination of the Public Sector Pension Investment Board which is required every 10 years will be mandated to an outside audit firm in 2011. The fundamental objective of this examination will consist of auditing policies and internal controls of the Public Sector Pension Investment Board to ensure that assets are safeguarded and controlled, that resources are managed economically and efficiently and that operations are carried out effectively.
As a result of effective performance indicators, the Public Sector Pension Investment Board has reasonable assurance that they will meet the above objectives based on key elements of a strong governance framework. In addition the Public Sector Pension Investment Board continues to develop risk measurement and management capabilities in line with industry standards.
“The PSP Investments’ Annual Report certainly does not, in any way, support or justify the repeated attacks by various lobby groups regarding the public service pension plan’s viability,” said CAPE President Claude Poirier, “Clearly this report proves that these attacks are unfounded.”
To review the Public Sector Pension Investment Board 2011 Annual Report, please refer to
http://www.investpsp.ca/pdf/PSP-AR-2011-complete.pdf