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For help click here. Co-operative Superannuation Society Pension Plan

Investment Funds


Rate of Return

Unit Prices

FundUnit PriceDateYTD ReturnDetails
Balanced$18.608976Jul 30, 20147.54%Click Here
Money Market$12.08874Jul 30, 20140.61%Click Here
Equity$14.983741Jul 30, 20149.12%Click Here
Bond$11.739495Jul 30, 20145.25%Click Here

Investment Basics: Getting started

Investment Basics: Getting started.

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Investments at a Glance

Investments at a Glance.

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Choosing a Financial Advisor

Choosing a Financial Advisor.

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Working with a Financial Advisor

Working with a Financial Advisor.

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Investment Choice

Information for CSS Pension Plan Members. This booklet includes:

  • questions and answers about Investment Choice
  • summary information about the CSS Pension Plan’s Investment Funds
  • information about finding a qualified financial advisor
  • information about Investment Risk
  • information about Market Timing
  • examples of how members in different circumstances might choose to invest

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Investment Instructions

Investment Instructions Form. The Plan’s default investment choice is the Balanced Fund. If you wish to change how your pension equity and any future contributions are invested, you must complete and return this form with the required $75 processing fee.

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Balanced Fund

Information about the Balanced Fund's investment objectives and structure.

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Bond Fund

Information about the Bond Fund's investment objectives and structure.

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Equity Fund

Information about the Equity Fund's investment objectives and structure.

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Money Market Fund

Information about the Money Market Fund's investment objectives and structure.

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Investment Options Matrix

Overview of the four investment funds.

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Pensions Fund

The accumulated benefits of retirees who choose to start a fixed monthly pension are transferred into the Pensions Fund - a segregate bond portfolio that secures the Plan's pension liability. Monthly pension payments are paid from this Fund. The Plan offers single and joint life pensions. Pensions provided by the Plan may receive periodic, ad hoc increases, subject to the solvency of the Pensions Fund and the policies adopted by the Plan's Board of Directors.

An actuarial valuation of the assets held in the Pensions Fund and of the Plan's pension liability is required every three years by law. The most recently completed valuation was conducted December 31, 2012. At that date, the Plan's actuary reported that the market value of the assets held in the Pensions Fund exceeded the Plan's pension liability.

Around the 20th of each month, the Plan sets the conversion rate for new pensions that will start in the following month. This conversion rate is used to calculate the payments for these new pensions.

The Pensions Fund is mainly invested in Government of Canada, Provincial and Corporate Bonds.

To set the conversion rate, the Pensions Fund manager first determines the current market yield available on Government of Canada Bonds with similar interest rate sensitivity, or duration, to the cash flows or total payments produced by the new pensions. This is subject to change every month based on movements in market interest rates and other economic and financial factors.

The manager next adds an increment to reflect the additional yield then available on Provincial and Corporate Bonds similar to those held in the Pensions Fund. Provincial and Corporate Bonds typically produce a higher yield than Government of Canada Bonds. This increment is also subject to change every month.

Finally, a margin of 0.4% is deducted by the Plan to pay for pension administration and to support the Pension Fund’s security reserve. This margin is set by Plan policy and does not change frequently.

Here is a table of historical conversion rates for new pensions:

Annuity Rates
% 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Average -- 3.62 3.52 4.38 4.68 5.27 5.03 4.69 4.52 4.61 5.27
January 4.0 3.3 3.6 4.6 5.0 5.5 4.7 4.4 4.3 5.0 5.3
February 3.9 3.4 3.7 4.8 4.9 5.5 4.8 4.5 4.4 4.8 5.2
March 3.8 3.5 3.7 4.8 4.9 5.4 5.0 4.5 4.5 4.8 5.2
April 3.7 3.4 3.8 4.7 4.8 5.6 5.0 4.5 4.5 4.9 5.1
May 3.7 3.2 3.6 4.7 4.9 5.5 5.0 4.5 4.6 4.8 5.3
June 3.6 3.3 3.5 4.5 4.6 5.4 4.8 4.6 4.5 4.6 5.4
July 3.5 3.6 3.4 4.3 4.7 5.4 4.9 4.8 4.7 4.4 5.5
August 3.4 3.7 3.3 4.3 4.5 5.3 4.9 4.9 4.9 4.4 5.3
September -- 4.0 3.5 3.9 4.5 4.9 4.9 4.9 4.7 4.4 5.2
October -- 4.1 3.4 4.0 4.5 5.0 5.5 5.1 4.4 4.3 5.4
November -- 4.0 3.4 4.1 4.4 4.8 5.3 4.9 4.5 4.4 5.2
December -- 4.0 3.4 3.8 4.4 4.9 5.5 4.7 4.2 4.5 5.1
 
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