The New Brunswick Public Service Pension Plan is reporting a funded status of 136.5 per cent as at Dec. 31, 2024, and will provide a full cost-of-living adjustment of 2.01 per cent to all members.
Last year, the plan returned 12.65 per cent and its long-term rate of return increased to 7.14 per cent, surpassing its discount rate of five per cent.
Read: New Brunswick PSPP announces 5.24% COLA, 0.32% below CPI
Although market volatility is inevitable at the moment, the NBPSPP’s diversified investment portfolio is crafted to withstand fluctuations and continues to ensure the long-term security of member benefits, according to a press release.
“The ability to grant cost of living adjustments annually for over a decade is a clear example of the plan design working as intended,” said Katherine Greenbank, chair of the board of trustees of the NBPSPP, in the release. “Our focus has always been to deliver on the pension promise — providing all members with secure, sustainable retirement income that helps support their needs today and into the future.”
Read: New Brunswick to allow windup of pension plans with missing members