If you’re one of the thousands of British Columbians who rely on the Public Service Pension Plan you may want to hear this.
Pension plan members have been told the return on investment this year is 0.0 per cent.
Not the news they want to hear especially for those who rely solely on the fund for retirement.
CKNW business analyst Robert Levy says this is the economic reality of today…
“Pension funds struggle to make a return and it’s not an issue that Canada is facing alone it’s a global phenomenon.”
In a memo from pension plan trustees to members, they say the plan is fully funded and able to cover current and future basic pensions.