The Nova Scotia Pension Services Corp. — which administers the investment assets of the Public Service Superannuation Plan and the Teachers’ Pension Plan — reported an increase in combined assets under management to roughly $15.2 billion, reflecting a year-over-year increase of about $800 million, according to the investment organization’s 2025/26 report.

It noted the PSSP reported a net investment return of 6.55 per cent for the 2025/26 fiscal year, exceeding its 6.25 per cent actuarial assumed rate of return but falling below its benchmark of 8.6 per cent, primarily due to historically high benchmarks in real estate, infrastructure and private equity. As of March 31, 2026, the PSSP was 105.5 per cent funded, with a $450 million surplus.

The TPP earned a net return of 8.02 per cent for the 2025 calendar year, exceeding its actuarial assumed rate of return of 6.10 per cent but falling below its benchmark return of 10.18 per cent. The report noted the TPP faced historically high benchmarks for the real asset components of its portfolio but delivered strong absolute returns. Its diversified asset mix continued to provide stability through changing market conditions. As of Dec. 31, 2025, its funded status rose to 86.8 per cent, up from 81.1 per cent the previous year.

Membership for both the PSSP and the TPP increased over the past year. As of March 31, 2026, the PSSP had 46,198 members, up 943 from the previous year. The TPP had 35,891 members as of Dec. 31, 2025, an increase of 362. The ratios of active members to pensioners improved for both plans, although demographic headwinds remain for each.

Throughout the year, strategic initiatives remained focused on enhancing member services and supporting the long-term sustainability of the PSSP and the TPP. This included expanding secure digital services and communication options for members and employers, developing new educational resources and online tools, continuing to expand participation in the PSSP by attracting and supporting new employers, completing asset-liability modelling studies for both plans, substantially completing the build-out of new master trust structures and strengthening governance through joint trustee education sessions.

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