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Nestle Canada Inc. Pension Plan for the Employees of the Ice Cream Division
The Nestle Canada Inc. Pension Plan for the Employees of the Ice Cream Division was established in 1997 as a defined contribution plan covering workers at...
Nestle Canada Inc. Pension Plan for the Employees of the Ice Cream Division
The Nestle Canada Inc. Pension Plan for the Employees of the Ice Cream Division was established in 1997 as a defined contribution plan covering workers at Nestle's London, Ontario ice-cream operation. Jayne Payette leads that division under CEO John Carmichael, with plan governance linked to corporate Nestle Canada but operated for a discrete bargaining unit under Teamsters Local 647. As a private-sector DC plan, it channels participant contributions into retirement-ready portfolios rather than directly making private-market deals. The plan's assets feed into the broader Nestlé Canada Inc. Pension Plans Master Trust in Toronto, alongside other Nestle Canadian pension pools. Menu brands churning through the London plant include Häagen-Dazs, Drumstick, Parlour, and Real Dairy — all staples in Canadian grocery aisles — but the pension entity itself does not take equity positions in operating companies. Team coverage and AUM remain undisclosed. The plan does not maintain a standalone LinkedIn presence. Engagement beyond the balance sheet flows through the sponsoring entity's philanthropic channels — Nestle Canada supports the Canadian Red Cross, Food Banks Canada, Kids Help Phone, and The Grocery Foundation, and has been recognized among Canada's Top 100 Employers. The pension plan leverages these corporate affiliations without maintaining its own charitable arm. The plan's structure reflects a classic single-facility union retirement vehicle, unusual in today's environment of consolidated multi-employer or group RRSP arrangements. Governance layers sit atop Nestle Canada and the Master Trust, insulating beneficiary assets from the operating company's balance sheet while keeping investment stewardship centralized.
General information
Firm type
Single Family Office
Year founded
1997
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, Ontario, Canada
Principals
John Carmichael
President & CEO, Nestle Canada
Jayne Payette
President, Ice Cream Division, Nestle Canada
Sector focus
Frequently asked questions
Who runs investment decisions for this pension plan?
The plan pools assets into the Nestlé Canada Inc. Pension Plans Master Trust, which handles investment decisions centrally. Neither John Carmichael nor Jayne Payette is directly named as a trustee or portfolio manager for the plan.
Is this a single-employer or multi-employer pension plan?
It is a single-employer defined contribution pension plan, set up specifically for employees of Nestle Canada's Ice Cream Division. The plan is sponsored solely by Nestle Canada Inc.
What is the relationship between the Ice Cream Division pension plan and Nestle S.A.?
The plan is sponsored by Nestle Canada Inc., an indirect subsidiary of Nestle S.A. The Swiss parent is a business partner but does not directly govern the Canadian pension entity.
Does the plan participate in direct investments or fund commitments?
As a defined contribution plan, assets are directed to investment options available through the Nestlé Canada Inc. Pension Plans Master Trust. It does not function as a direct institutional investor in private equity, venture capital, or real estate.
Which union represents employees covered by this plan?
Teamsters Local 647 represents workers at the London, Ontario ice-cream facility. The relationship is documented as a business partnership with the plan.
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