Vestcor Corp. – Benefits Canada.com

Vestcor returns 7.5% for 2023, amid rising inflation, high interest rates

bwolfe — Thu, 11 Apr 2024 15:00:54 +0000

Vestcor Corp. is reporting a 7.5 per cent return for 2023, despite the challenges of rising inflation and high interest rates. The New Brunswick-based investment organization achieved five- and 10-year annualized returns of 6.27 per cent and 6.73 per cent, respectively. In a press release, Vestcor noted these returns ensure its clients continue meeting their […]

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Vestcor appointing Sean Hewitt as president, CEO

bwolfe — Mon, 12 Feb 2024 20:00:54 +0000

Vestcor Inc. is appointing Sean Hewitt as president and chief executive officer, effective mid-April. He’ll succeed John Sinclair, who announced his retirement last November after leading the investment organization for 20 years. Read: New Brunswick’s Vestcor CEO John Sinclair to retire Hewitt has nearly 20 years of progressive experience within the pension and investment industries […]

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Vestcor reduced carbon exposure in investment portfolios in 2022

bmcgovern — Thu, 09 Nov 2023 16:00:33 +0000

Vestcor Inc. reduced the carbon exposure to several of its portfolios throughout 2022, according to its annual responsible investing report. The New Brunswick-based investment organization reported its Canadian, global and emerging markets portfolios all saw declines in carbon exposure by nine per cent, 13 per cent and nine per cent, respectively. The portfolios also retained […]

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New Brunswick PSPP announces 5.24% COLA, 0.32% below CPI

Gideon Scanlon — Thu, 08 Sep 2022 17:00:38 +0000

Members of the New Brunswick Public Service Pension Plan are receiving a cost-of-living adjustment that doesn’t cover increases in the cost of living in Canada. According to a press release, the $6.6 billion hybrid pension plan’s board of trustees voted to award its 40,000 members with a 5.24 per cent COLA, set to begin on […]

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N.B. auditor general report calls for transparency from public sector investment organization

Gideon Scanlon — Tue, 28 Jun 2022 17:00:40 +0000

New Brunswick’s auditor general is reigniting a dispute with the an independent public sector asset manager responsible for investing on behalf of pension plans jointly sponsored by Crown corporations. In a report, Paul Martin, the province’s auditor general, expressed concerns that Vestcor Investment Management Corp., which provides administration services for 11 public sector pension plans and […]

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How have Canada’s DB pensions changed over the last decade?

mschmit — Thu, 20 Aug 2020 05:30:54 +0000

Whether it’s battling the challenges of plan maturity, increasing longevity, the changing nature of work or difficult financial markets, these so-called golden handcuffs are looking pretty dented in some cases. But the 10 years following the great financial crisis wasn’t all bad. Many public pension plans, as well as affiliated administrators and investment managers, have […]

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