Here you will know about the organizations which assist BC’s Public Service Pension Plan and offer all services to plan holders.
British Columbia Public Service Pension Plan
With more than 139,000 members and assets of more than $40 billion, the British Columbia Public Service Pension Plan (PSPP) is one of the biggest pension plans in Canada. This defined benefit plan offers a stable retirement income that is determined by an employee’s years of service and salary.
Trustees’ Support
It is supported by company and employee contributions and is jointly administered by the Public Service Pension Board of Trustees. The British Columbia Investment Management Corporation (BCI) oversees investments, while the BC Pension Corporation administers the plan. The plan’s long-term viability is guaranteed by routine actuarial assessments.
British Columbia Pension Corporation
With over 715,000 plan members across multiple public sector pension plans in British Columbia, including the Public Service Pension Plan (PSPP), the BC Pension Corporation is one of the biggest pension service providers in Canada. It oversees the plans’ daily operations, which include member services and information provision, pension calculation and payment, and contribution collection. The company makes sure that pension services are delivered effectively and efficiently.
British Columbia Investment Management Corporation
One of the biggest institutional investors in Canada, British Columbia Investment Management Corporation (BCI) oversees more than $200 billion in assets for clients in the public sector, including the PSPP. BCI offers investment management services with the objective of expanding its clients’ assets through diversified portfolios that span a variety of asset classes, such as real estate, infrastructure, fixed income, and stocks.