Annual returns and benchmarks

The plan tracks returns annually and over the longer term.

• The board has set a 5.75 per cent actuarial return target. This is the amount the plan’s investments need to earn to meet its long-term targets.
• For 2024, the plan returned 10.6 per cent. This exceeded the plan’s return objective of 5.75 per cent but fell short of the benchmark return of 13.9 per cent.
• For 2024, the ten-year annualized return was 7.9 per cent, above the market benchmark of 7.6 per cent.

Longer-term results are important. The board’s primary objective is to ensure the long-term sustainability of the plan, making sure that all members, from those retired to those who just joined, receive a pension.