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About the Ontario Pension Board
Established in 1990 under the Public Service Pension Act, the Ontario Pension Board (“OPB”) is responsible for the administration of the Ontario Public Service Pension Plan (the “PSPP” or the “Plan”), and for the prudent investment of the assets that fund the Plan (the “Fund”), which are subject to the Ontario Pension Benefits Act and the Income Tax Act. OPB functions in the capacity of both Trustee and Administrator of the Plan. This dual role requires OPB to act in a fiduciary capacity, acting in the interests of the beneficiaries of the Plan while at the same time fulfilling obligations for compliance with the Plan text as well as applicable legislative and regulatory standards.
The PSPP is one of the largest defined benefit pension plans in Canada, with approximately $26 billion of assets and represents the interests of about 42,000 active members and approximately 39,000 pensioners and deferred vested members. It is financed by contributions from members and employers, and by investment returns.
OPB’s mission is to:
• Protect the long-term vitality of the Plan;
• Invest the Plan’s assets to maximize returns within acceptable risk parameters;
• Keep contribution rates stable and affordable; and
• Deliver superior, cost-effective service to all Plan stakeholders.
OPB is committed to protecting the long-term health of the Plan for today’s and tomorrow’s public servants and to providing our clients and stakeholders with tailored advice and counsel to enable them to make excellent decisions about their pension benefits.
At OPB, we believe that providing excellent client service goes beyond just processing transactions for members and responding to their questions. We believe it means protecting our members by helping them make sound decisions about their pension. To do that effectively, members need to understand how their pension decisions fit into their broader financial plan. That’s why we introduced Advisory Services, which provides members with access to a team of in-house Advisors who are Certified Financial Planners®.
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