Pension Life - 2024

Your pension plan is growing

The WorkSafeBC Pension Plan Pension Committee takes a long-term view of investing. One of the many advantages of your pension plan is knowing its assets are carefully invested in a diversified portfolio. This way, the plan reduces risk and achieves consistent results over time.

The plan closed out the fiscal year on March 31, 2022, with more than $2.7 billion in combined assets. That’s an increase of six per cent year-over-year. Growth helps to secure future pensions. It also makes it easier for the plan to afford cost-of-living adjustments, which are not guaranteed.

One of Canada’s fastest-growing pension plans

Benefits Canada is an influential publication in the pension industry. It publishes an annual list of Canada’s top 100 pension plans based on the value of fund assets. Benefits Canada noted the WorkSafeBC Pension Plan was the sixth-fastest-growing Canadian pension plan on its latest list and counted it among the top 100 (in 96th place). It’s the first time the plan has been included on the top 100 list.

That’s quite an accomplishment, as it’s more difficult for a small single-employer pension plan to make the top 100 because there are fewer members than in the larger multi-employer plans.

Your pension is a valuable asset that you can rely on for a lifetime income in retirement. During these challenging economic times, you can be sure your pension is in capable hands.