The Long View
OPB is in it for the long term. Our strategic and investment plans focus on decades, not individual years. Consequently, the results of a single year, whether positive or negative, while important, do not have a conclusive impact on our Plan’s long-term sustainability or our capacity to meet its pension obligations. For example, in 2008, the year of the global financial crisis, investments worldwide, including OPB’s, were negatively impacted. However, we made a robust recovery from that event and currently have $31 billion in assets, and since we started in 1990, our long-term average net investment return is a healthy 7.6%. 2022 was a challenging year for the investment sector. World events like the lingering pandemic and the war in Ukraine drove market volatility and helped spur inflation. Inevitably, this affected investments, including OPB’s, and our results for this particular year were disappointing. However, our members’ pensions remain secure and our performance against our benchmark shows that our strategy is sound and on track. Taking the long-term view, backed by history, OPB is well positioned to help its members enjoy the benefits of a secure retirement today and tomorrow.