July 04, 2008
TORONTO – The Ontario Teachers' Pension Plan provides the best-in-class pension service in North America.
A just-released report from CEM Benchmarking Inc. ranked the Teachers' plan first among its peers in North America, based on an evaluation of 11 service categories, ranging from the payment of pensions to contact with members.
Teachers' also tied for first place internationally, beating out 58 other leading pension plans in Canada, the U.S., the Netherlands and Australia.
Teachers' scored 89 of a possible 100, compared with a median score of 74 for North American and 60 for Canadian pension plan peers.
Participating plans are evaluated in such areas as telephone call wait times, availability of website tools, accuracy of member data, and quality of member pension statements. Teachers' has placed in the top five for service levels for the past five years.
"These results reflect our team's ongoing commitment to provide outstanding personalized service to our members," said Rosemarie McClean, Senior Vice-President, Member Services.
With $108.5 billion in net assets as of December 31, 2007, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. As an independent organization, it invests the pension fund's assets and administers the pensions of 278,000 active and retired Ontario teachers.
Director, Communications and Media Relations
Ontario Teachers' Pension Plan