# NOVA Chemicals Corporation Pension Plan

NOVA Chemicals Corporation Pension Plan is a Pension Fund based in Calgary, Canada.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Calgary, Canada
- **Region:** North America
- **Address:** 250 – 5th Street SW, 21st floor, West Tower, Calgary, Alberta, Canada
- **Founded:** 1975
- **Assets under management:** Undisclosed
- **Website:** novachem.com
- **LinkedIn:** https://www.linkedin.com/company/nova-chemicals

## Regulatory record

- **Reports private funds:** No

## About

The NOVA Chemicals Corporation Pension Plan operates as the employee benefit program for a Calgary-headquartered petrochemical company whose ownership has shifted from a publicly traded Canadian entity to a Mubadala subsidiary, and is now set to transfer to Abu Dhabi National Oil Company (ADNOC). The plan covers employees in Canada and the United States with defined contribution savings arrangements that include company contributions and matching. Administration is overseen by the company's Pension and Savings Plans Committee. The plan's investment portfolio is managed in the context of a sponsor whose core business is polyethylene and ethylene production across manufacturing sites in Joffre and Sarnia-Lambton in Canada, and Geismar, Louisiana and Connersville, Indiana in the United States. The sponsor's 2024 combination with Borouge and Borealis to create Borouge International marks a structural shift that may influence the pension plan's future liability profile and investment horizon. The plan maintains affiliations with the Pension Investment Association of Canada, signaling engagement with Canadian institutional peer networks. Mark Wiseman, a former CEO of the Canada Pension Plan Investment Board, previously chaired NOVA Chemicals' board, and several other executives have moved between the company and CPPIB — embedding Canadian institutional investment thinking in the plan's governance orbit. The plan does not publicly disclose its asset size, investment lineup, or manager roster. The sponsor's corporate membership in the C.D. Howe Institute and the Chemistry Industry Association of Canada's Responsible Care program reflects a governance culture that extends to the benefit plan's fiduciary oversight. One structural aspect that distinguishes this pension plan is its sponsorship by an operating company undergoing repeated sovereign-ownership handoffs — first to Mubadala, then to ADNOC — while the plan itself remains a bilateral Canadian-U.S. employee benefit structure. The lack of public investment disclosures leaves open questions about whether the plan runs an internal investment team, delegates to an outsourced chief investment officer, or relies on the sponsor's treasury function.

## Sectors

- Energy Transition & Renewables

## Offices

- Pittsburgh, PA, United States
- Sarnia, ON, Canada
- Fribourg, Switzerland

## People

- Mark Wiseman — Former Board Chairman
- Avik Dey — Former SVP and CFO

## Questions

### Who runs investment decisions for the NOVA Chemicals Corporation Pension Plan?

The plan's administration and investment governance are overseen by the company's Pension and Savings Plans Committee. The names of current committee members or investment staff are not publicly disclosed.

### How is the NOVA Chemicals pension plan structured — defined benefit or defined contribution?

The plan includes defined contribution savings plans with company contributions and matching for employees in Canada and the United States, according to Altss research.

### Does the NOVA Chemicals pension plan disclose its asset size or investment managers?

No. The plan does not publicly disclose its assets under management, investment portfolio composition, or the names of any external investment managers.

### Is the pension plan engaged with Canadian institutional investor networks?

Yes. The plan participates in the Pension Investment Association of Canada (PIAC), and its sponsor has ties to the C.D. Howe Institute and the Chemistry Industry Association of Canada.

### Which geographies does the plan cover?

The plan provides retirement benefits to NOVA Chemicals employees in both Canada and the United States, reflecting the company's operational footprint in Alberta, Ontario, Louisiana, and Indiana.

## Related profiles

- [NovaCapital](https://altss.com/profile/novacapital)
- [Novacies Capital](https://altss.com/profile/novacies-capital)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/nova-chemicals-corporation-pension-plan

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