Telecommunication Workers Pension Plan

Telecommunication Workers Pension Plan

The Telecommunication Workers Pension Plan was founded in 1975 to deliver defined benefits to participants employed in British Columbia under collective agreements between USW Local 1944 and TELUS. Four trustees are appointed by the union and four by the employer. The plan maintains its primary office in Burnaby. Asset allocation includes a fixed income portfolio of Canadian and provincial government bonds, high-quality corporate bonds, and mortgages. Real estate exposure runs through Concert Properties, where the plan holds roughly 40 percent ownership, and Concert Income Properties LP. Private equity targets a 5 percent allocation. Additional holdings include private credit funds, a mortgage fund managed by ACM Advisors, and a hedge fund of funds. Geographic focus remains Canada with limited external exposure. The plan reports 4,044 million USD in assets. It engages PBI Actuarial Consultants as actuary and Willis Towers Watson as investment consultant. Smythe LLP serves as auditor. No additional offices are disclosed. The plan participates in the BC Federation of Labour and Canadian Institutional Investment Network. No operational events from the last 24 months appear in available records. Joint trustee appointment by union and employer creates a governance structure that directly ties contribution and benefit decisions to the two primary stakeholders. This arrangement shapes mandate stability and limits external manager discretion on core policy.