The
following message is forwarded on behalf of the
Nova
Scotia Teachers? Pension Trustee Inc.
To: Plan
members and recipients
From: Nova Scotia Teachers? Pension Trustee Inc.
The Nova Scotia Teachers? Pension Plan delivered improved investment
returns for 2009.
Although the year saw some significant swings in commodity prices, currency
exchange rates and share prices, the Trustee chose higher quality investments
with stronger fundamentals in an effort to minimize risk and encourage growth.
For the 12 months ended December 31, 2009, the plan achieved an investment
return of 15.29 percent, bringing the funded status up to 76 percent. This is
an increase of slightly more than five percent over the last year (ended
December 31, 2008).
Since the funded level remains below 90 percent, and because the increase in
the
Consumer Price Index (CPI) is not likely to exceed one percent for the year
ended April 30, 2010, we don?t expect indexing to be available to
pensioners this year. Your pension benefits earned to date are safe and pension
payments will remain the same. We will confirm our decision on indexing in
June.
It will definitely take some time to recover from the effects of recent market
conditions and restore the funded status of the plan, but it is moving in a
positive direction.
The Trustee continues to monitor the financial markets and the NS
Teachers? Pension Plan?s performance. The plan is carefully and
strategically invested in a diverse allocation of equities, bonds and real
estate in order to minimize risk and take advantage of any opportunities a
market rebound may provide.
Detailed pension information will be made available on the Nova Scotia Pension
Agency?s website at http://www.novascotiapension.ca/teachersplan/publications/annualreport
in May, when the 2009 Annual Report, including the Audited 2009 Financial
Statements, will be posted.
You may also call the Nova Scotia Pension Agency at 1-800-774-5070 or
902-424-5070 (in the Halifax area) with questions related to your specific
retirement circumstances.
Bev Quillan
Electronic Communications & Data Management
Toll Free: 1 (800) 565-6788
477-5621 or 479-4739 (direct line)
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