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Overview
The Ontario Teachers’ Pension Plan (Teachers’) is Canada’s largest single-profession pension plan. It was created for Ontario’s teachers in 1917 and until 1990 was administered by the Teachers’ Superannuation Commission of Ontario, with the pension fund invested in non-marketable Ontario debentures.
The Ontario government created the Ontario Teacher’s Pension Plan Board as an independent corporation in 1990. Together, the board members and management have three key responsibilities:
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investing the plan’s assets in financial markets; |
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administering the pension plan and paying benefits promised to members and their survivors; and |
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reporting on the plan’s funding status. |
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At the end of 2007, we managed $108.5 billion in assets, compared to $106.0 billion a year earlier. We administer the pension benefits of Ontario’s 170,000 elementary and secondary school teachers and 108,000 pensioners. Teachers’ has one of the largest payrolls in Canada, paying out a total of $4.0 billion in benefits in 2007. We employ 700 people at our office in Toronto, Ontario, six in our London, England office, and another 1,550 at our real estate subsidiary, Cadillac Fairview. |
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