With invested assets of $11 billion, the OPSEU Pension Trust (OPTrust) manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with more than 82,000 members and retirees.

In 2008, OPTrust:

• Registered an investment loss of 16.2%, compared to the Plan's weighted benchmark return of -16.8% in a year of sharp declines for investment markets worldwide
• Entered a net deficit position at year-end based on investment losses of $2.4 billion; actuarial smoothing is used to spread the impact of these losses evenly over a five-year period
• Identified gains of $841 million in our 2005-2007 funding valuation, eliminating the Plan's previous deficit and adding $470 million to its contribution rate stabilization funds
• Increased the rate stabilization funds to $938 million at December 31, 2008, which will help cushion the impact of the Plan's deferred losses
• Adopted a comprehensive funding policy designed to ensure the long-term security of members' and retirees' pensions and help keep contribution rates stable

Our mandate

OPTrust was launched in 1995 to provide service and security to the members and retirees of the OPSEU Pension Plan. Our mandate reflects three key objectives:

• Generating a long-term rate of return on investments that supports our pension promise
• Delivering the finest service and communications to our members and pensioners
• Ensuring that members and retirees have a real voice in their pension plan through joint trusteeship