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NEWS from Richardson Lab EVENTS

Monthly Pension Update: August 2019

Posted 2019 October 08


Pension Plan Fund rate 2.33% through August 2019 (12/12 months)

While most global equity markets posted negative returns in August the Canadian market rallied to finish in positive territory, which added to solid fixed income returns and resulted in a modest monthly gain of 0.3% (net of fees) for the final month of the plan year. Overall performance continued to be negative, however -- returns were 5 basis points (0.05%) below the Fund's benchmark return for the month and 351 basis points (3.51%) below benchmark for the 12-month period ending August 31, 2019.

The net return for the 2018-19 plan year stands at 2.3286% (September 1, 2018 through August 31, 2019). For additional detail, please see the new monthly report on Fund performance prepared by Investment Services.

Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.

For more information, please contact the Pensions Services unit of the Department of Human Resources.

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These stories can be found at www.path.queensu.ca/Monitor
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Tuesday, 22 October 2019 04:22 am