Canada Post’s pension plan earned a return of 2.1% last year, exceeding the benchmark return of 0.9%.

“Financial markets continue to exhibit unusual volatility, as we work our way through the credit issues facing us,” says Douglas Greaves, vice-president, pension fund and chief investment officer. “We are pleased that despite this uncertainty the plan continues to perform above its benchmark.”

At the end of last year, the plan held total net assets of $14.7 billion, an increase of $236 million from 2006. The fund earned an annualized rate of return of 7.3%, since inception against the benchmark return of 4.8%.

The Canada Post pension plan is a defined benefit plan that provides inflation-protected benefits to almost 77,000 active members, retired members, deferred pensioners and beneficiaries.

To comment on this story, email craig.sebastiano@rci.rogers.com.

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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