2024 Funded Status Report
Your Future. Our Mission.
Highlights for members
- 2024 Highlights
- Message from our CEO
- Pension Funding
- Serving Members
- Investment Strategy and Performance
- Responsible Investing
2024 Highlights
Fully funded for 16 consecutive years
in net assets
one-year net investment return
A message from our CEO
Peter Lindley President and CEO
Fully funded in 2024
Over the past year we provided pension security and financial stability to our more than 114,000 members. Despite modest economic growth, inflation concerns and high interest rates affecting consumer spending and housing, OPTrust achieved a strong one-year net investment return of 9.6 per cent in 2024, bringing our 10-year net investment return to 7.0 per cent. For the 16th consecutive year, OPTrust is fully funded, and is delivering on our mission of paying pensions today, preserving pensions for tomorrow – even in uncertain times.
Supporting our members
We take pride in supporting members through all stages of their careers and into retirement, helping them better understand their pension options and associated benefits. Our members tell us they appreciate the services we provide, giving us a strong service rating year-over-year.
Looking ahead
As we mark another year of being fully funded and providing exceptional service to our members, these achievements reflect the dedication and passion of the entire OPTrust team and the guidance of our Executive Team.
Our focus remains on ensuring pension security and delivering our members peace of mind in retirement.
“Thanks to our Member-Driven Investing strategy, long-term perspective and our world-class team of investment professionals, we have continued to deliver strong results on our investments, and pension certainty for our members and retirees.”
Peter Lindley
President and CEO
Pension funding
OPTrust’s mission is paying pensions today, preserving pensions for tomorrow.
The Plan’s sponsors (the Government of Ontario and OPSEU/SEFPO) set contribution and future benefit levels based on the Plan’s funded status. OPTrust is fully funded for the 16th year in a row.
Serving members
We take great pride in engaging our members during all stages of their careers. Whether they are starting out, mid-career or approaching retirement, members are confident that our team will guide them as they assess their pension options and make important decisions.
2024 Highlights
members in the OPSEU Pension Plan
life events supported in 2024 – we support our members through life changes
member service rating
in entitlements paid
“Having an OPTrust pension gives me confidence in my future as well as security and stability that I can count on — no matter what life brings.”
Andrea Taylor
Youth Services Officer, Ministry of Children, Community and Social Services
“Buying back my pension service was a smart move for my future. It’s one of those decisions you look back on and truly appreciate. I encourage everyone to explore the buyback option as I found it to be beneficial.”
Harry Friedman
Customer Service Representative, LCBO
"Accessing OPTrust’s online services keeps me informed about my pension. I like logging into my account to view my pension estimates and access information, which helps me set my financial goals."
Akash Solanky
Senior Operational Policy Officer, Ministry of Transportation
“OPTrust Select is a game changer for employees working in the non-profit sector. The security of inflation-protected, defined benefit income makes planning decisions for the future so much easier.”
Lana Wright
Director of Finance (retired December 2024), Community Food Centres Canada
Investment strategy and performance
Investment returns account for more than 70 per cent of the benefits we pay to members when they retire. To achieve this, we manage a globally diversified portfolio of assets and seek the best opportunities for value creation. Balancing return expectations against funding risks ensures we have sufficient assets to pay pensions now and in the future.
Total Portfolio performance
The Total Portfolio return is net of management fees, transaction costs and investment administration expenses.
Our Member-Driven Investing philosophy
We invest Plan assets to help deliver pension security for our members. Our Member-Driven Investing strategy is our unique application of a Total Portfolio Approach. Our investment objective is to increase the likelihood of remaining fully funded by maximizing returns at an acceptable level of risk. We strive to construct our portfolio to be resilient to different economic and market environments to the extent possible, helping us deliver attractive risk-adjusted returns over the long term.
Investing at home and internationally
We have access to a broad set of investment opportunities. About 14.9 per cent of our investments are in Ontario, while about 34.8 per cent are in Canada. Our international footprint covers the U.S., Europe, Asia Pacific and Latin America. This global approach offers diversification and return-enhancement benefits to the Total Portfolio and is an important part of our investment program.
Based on country of risk, location of primary income or location of property. Gold, commodity and funding portfolios are excluded from exposures. * Includes Ontario.
Responsible Investing
Responsible investing (RI) is core to how we invest at OPTrust, rooted in the recognition that environmental, social and governance (ESG) factors can materially impact investment risk, returns, our reputation and ultimately our ability to provide pension security for our members.
Every OPTrust investment professional is accountable for understanding and managing ESG risks and opportunities in their investment decision-making at all points of the investment lifecycle, from screening and due diligence to monitoring and stewardship. Our RI approach enables more informed investing that positions the fund for success over the long term and supports the fulfilment of our fiduciary duty to our members.
2024 Highlights
Advanced our climate change strategy to strengthen the fund’s resilience and net-zero alignment. See more in our 2023-24 TCFD report.
Published our Asset owner’s toolkit for advancing inclusion, diversity and equity in investment portfolios.
Achieved an 11% emissions intensity reduction.
Voted at 882 company meetings in 30 countries.
Engaged 169 companies on key ESG issues.
Invested $400 million in green bonds over the year.
Signed the 2024 Global Investor Statement to Governments on Climate Change.
Continued to be an active voice in investor collaborative initiatives, including UNPRI’s Private Equity Advisory Committee, Thinking Ahead Institute, Ceres and the International Centre for Pension Management.
See the big picture
For more information on all our results, read our 2024 Funded Status Report.
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