TORONTO, April 18,
2024 /CNW/ - In an environment of economic
uncertainty, WISE Trust has demonstrated its value to members and
security of benefits by achieving a 7.9% net return on investments
for the fiscal year 2023. This brings the assets of the
Workplace Safety and Insurance Board Employees' Pension Plan (the
Plan) to a total of $4.0 billion. The
2023 return not only underscores the organization's robust
investment strategies but also reaffirms the value of WISE Trust's
partnership with Investment Management Corporation of Ontario (IMCO), the Plan's exclusive
investment manager.
With a track record of consistent growth,
and a dedication to putting members first, WISE Trust continues to
strive for excellence in providing retirement security to our
10,000+ members
Despite facing numerous market fluctuations throughout the year,
WISE Trust has remained steadfast in its pursuit of delivering
sustainable growth and stability to Plan members. The positive
performance of the Plan's fund provides members with the peace of
mind they deserve as they plan for retirement.
"We are thrilled to announce a 7.9% return on portfolio
investments for 2023," said Christopher
Brown, WISE Trust CEO. "This accomplishment is a testament
to the hard work and dedication of our team and our partners at
IMCO, as well as our unwavering commitment to delivering value to
our members. Despite the challenges, we have remained agile and
focused, ensuring that we continue to meet and exceed the
expectations of those who have entrusted us with their financial
future. With a track record of consistent growth, and a dedication
to putting members first, WISE Trust continues to strive for
excellence in providing retirement security to our 10,000+
members."
Further Mr. Brown added, "At WISE Trust we understand the
importance of providing reliable and consistent returns to secure
the benefits of our Plan members. As we look ahead, we remain
committed to upholding the highest standards of integrity and
transparency in everything we do, ensuring that our members can
retire with confidence and dignity."
About WISE Trust
The Workplace Safety and Insurance Board Employees' Pension Plan
(the Plan) is a jointly sponsored defined benefit pension plan
co-sponsored by the Workplace Safety and Insurance Board
(Ontario) and the Ontario
Compensation Employees Union, CUPE Local 1750 (OCEU). The
WISE Trust Board of Trustees (made up of individual trustees
appointed by the WSIB and OCEU) is the legal administrator of the
Plan.
On July 1, 2020, the Plan became
the first pension plan in Ontario
to convert from a single employer pension plan to a jointly
sponsored pension plan.
IMCO is the exclusive investment manager for the Plan, operating
to implement the investment policy and strategic asset allocation
set by the WISE Trust Board of Trustees.
SOURCE WISE Trust