What the heck is a SIP&P?

Submitted by PEBA on February 26, 2021

MEPP SIP&PDid you know that every registered pension plan must have an investment policy in place like MEPP’s SIP&P? And no, we’re not talking about wine and bathroom breaks. There’s a lot at stake when it comes to administering a pension fund like MEPP. And, to do so properly, MEPP has a Statement of Investment Policies and Procedures in place.

The main purpose of MEPP’s SIP&P is to provide a framework for managing the pension fund’s assets. And with the Fund nearing three billion dollars – yes, that’s billion, managing the Fund in a responsible and strategic way is critical. More so because it’s these very assets that pay for the lifetime pension benefit of members like you, once you retire.

MEPP’s Investment team, which we introduced here on January 15, 2020, works with a variety of investment managers and other service providers worldwide. To ensure accountability, each service provider must meet the expectations set out by the Commission. These details are outlined in the SIP&P.

To give you further peace of mind, the MEPP Commission reviews the SIP&P annually and adjusts, as needed. This ensures MEPP’s investment policy is current and aligned to the Plan’s primary purpose of providing retirement income to MEPP members like you.

Looking to learn more? Find it here: MEPP’s SIP&P.

 

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