The Canadian Press
New Brunswick’s two largest public sector pension plans are joining forces.
The trustee boards of the Public Service Shared Risk Plan, which covers most employees in the provincial civil service, and the New Brunswick Teachers’ Pension Plan are partnering to create the Vestcor Corporation.
Read: There’s more to New Brunswick’s shared-risk plan story
The independent organization will provide pension administration and investment services for a total of about 50,000 active and retired plan members.
The new corporation is expected to being operations on October 1.