Government of Nova Scotia

The province sponsors multiple defined-benefit plans, the largest being the Public Service Superannuation Plan. The Nova Scotia Pension Services Corporation handles administration and benefit payments, while the PSSP Trustee Inc. board governs investment decisions and hires external fund managers.

No. Investment management is outsourced to external firms selected by plan trustees. Nova Scotia does not operate a large internal investment corporation similar to CPP Investments or BCI. The pension administration corporation focuses exclusively on member services and plan operations.

The Public Service Superannuation Plan held roughly C$8.7 billion in net assets as of its most recent publicly filed annual report. Other provincial plans covering teachers, members of parliament, and specific agencies are smaller and administered separately.

Investment policy is set by independent trustee boards, not directly by the provincial government. The PSSP Trustee Inc. is responsible for asset mix decisions, manager selection, and monitoring for the Public Service Superannuation Plan. Board members include representatives of plan members and government appointees.

The PSSP allocates across Canadian equities, global equities, domestic fixed income, real estate, and infrastructure. Public filings show allocations to private equity and real estate are typically implemented through fund-of-funds structures or pooled vehicles rather than direct co-investments. The asset mix skews conservative, with a majority in public-market securities and bonds.