The Ontario Pension Board, the administrator of province’s public service pension plan, generated a return of 9.4 per cent in 2021.

In its yet-to-be released 2021 annual report, the OPB also reported its assets under management had grown to $33.8 billion, up from $31 billion the previous year. It also improved its solvency ratio by four per cent, reaching 94 per cent.

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In a press release, the OPB noted its 2021 performance was tied to the unusual circumstances faced by investors across the world during the first full year of the coronavirus pandemic. “We are pleased with this result in what was another challenging year with the ongoing pandemic. While we continue to expect the market conditions to be more challenging in the years ahead, we believe our long-term strategy is well-positioned to protect the pension promise.”

While the details about the long-term strategy weren’t revealed in the press release, they’re expected to be included in the full annual report. While it has been produced, it won’t be made available to the public until after it’s been approved by Ontario’s provincial parliament.

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