Pension Percolator blog
What’s brewing for BC and the Canadian retirement landscape.
November 29, 2018
The plan’s agents: getting to know BC Pension Corporation and British Columbia Investment Management Corporation
Every delicious muffin, cake or loaf of bread needs an agent like yeast or baking soda to help it rise, give it shape and create texture. When mixed, the agents and ingredients work together to create a product that is greater than the sum of its parts.
Your Municipal Pension Plan (plan) involves many more elements than a loaf of bread, but it also requires agents to help it thrive. They work with the Municipal Pension Board of Trustees (board) to provide value, health and sustainability to the plan, and services to members, guiding you toward a secure retirement.
So, who are these agents and how do they contribute to the plan’s success?
The board provides direction about the management of plan assets to the plan’s investment agent, British Columbia Investment Management Corporation (BCI). The board also provides direction to the plan’s administrative agent, BC Pension Corporation (Pension Corporation), regarding administration of the plan, including services to members.
British Columbia Investment Management Corporation
BCI provides investment management services to the plan.
One of Canada’s largest investment managers, BCI manages more than $145 billion in assets on behalf of public sector pension plans, the Province of British Columbia, publicly administered trust funds and other public bodies. BCI is responsible for generating investment returns that build a financially secure future for its clients.
BC Pension Corporation
Pension Corporation is the administrative agent working on behalf of the board.
One of Canada’s largest professional pension services provider, Pension Corporation serves the largest public sector pension plans in British Columbia. These pension plans represent more than 560,000 active and retired members and more than 1,100 employers.
Pension Corporation’s services include providing plan information to members and employers; managing contributions and member records; paying pension benefits; and providing policy, financial and communication services.
Together, the board and the plan’s agents work to identify opportunities, maintain accountability and provide a pension you can count on. In short, it’s the perfect mix.
Is there something you would like to know more about? Suggest a blog topic to me on Twitter: @MyBCMPP
The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Municipal Pension Board of Trustees.
Judy Payne is the Executive Director
of the Municipal Pension Plan