Ontario Public Service Pension Plan, Toronto, returned 12.5% on its investments in 2013, vs. 11.9% a year earlier, according to the Ontario Pension Board, which administers the C$21 billion (US$18.8 billion) pension fund.
The pension fund's return was 3.1 percentage points above its custom benchmark, said Stephanie Woodward, OPB director, stakeholder relations. Investment income for 2013 totaled C$2.24 billion.
The pension fund was 96% funded as of Dec. 31, up from 94% 12 months earlier. The improved funded status was chiefly because of investment returns, Ms. Woodward said.