Canada’s flexible pension plan for unions, employers, and members has marked a new milestone in the plan’s history as the pension fund surpasses $1 billion dollars. “Reaching more than $1 billion in assets is a significant milestone, and great news for every member of the Plan,” said Shawn Rahbek, Managing Director, CWIPP. “It reflects the continued growth and stability of the Fund, which benefits our plan members directly.”
Founded in 1970, CWIPP has been welcoming new members, unions and organizations into the plan as one of Canada’s most flexible pension plans open to employers across the country. The Fund’s steady growth has been driven by increasing membership, ongoing employer and member contributions, the addition of buyback assets, and strong investment performance. The increasing size of the fund creates economies of scale, helping keep administrative and investment costs low, and it opens the door to a wider range of investment opportunities and greater diversification that can strengthen long-term performance and sustainability. With the fund now exceeding $1 billion dollars, CWIPP comfortably operates within the circle of Canada’s leading multi-employer pension plans.
Gary Goddard, CWIPP Board Facilitator and Chair, said “This achievement reflects the Plan’s ongoing growth, strength, and sustainability, as well as our commitment to prudent governance that ensures our plan members’ pensions remain secure.” He observed that, “These milestones matter. A larger, well-managed Fund supports efficiency, keeps costs low, and provides broader investment opportunities — all of which strengthen the long-term security of member pensions.”
ABOUT CWIPP
CWIPP is Canada’s flexible pension plan built for unions, employers, and members. CWIPP was established in 1970 and operates as a multi-employer, target benefit pension plan.
Employers joining CWIPP have the flexibility to set their contribution rates and structure based on what is bargained with their unions. Stable and fixed negotiated costs are protected by pension legislation, while member contributions are permitted but not required. Plan members’ pensions at retirement are paid as a monthly income for life.
Providing an exceptional plan experience, CWIPP is an ideal pension solution for Canadians seeking a predictable lifetime pension income.
For more information about CWIPP and the advantages of a target benefit pension plan like CWIPP, please visit www.cwipp.ca or contact David Le Roy at dleroy@cwipp.ca.