The PSP Board (Board) established an Investment Committee (IC) comprised of all six members of the Board and up to three external investment or finance professionals chosen for their expertise in investments. The IC assists the Board in:
- monitoring and reviewing the investment performance of the PSPP fund;
- reviewing each component of the PSPP fund periodically;
- monitoring investments for compliance with the Board’s policies and applicable laws and regulations; and
- undertaking special studies as requested by the Board, including periodic asset-liability studies.
The IC also advises and makes recommendations to the Board on:
- investment policy (annually);
- recruitment and selection of external IC members;
- asset mix policy and ranges;
- applicable agreements with Alberta Investment Management Corporation (AIMCo) and/or Alberta Treasury Board and Finance; and
- any investment-related matters as requested by the Board or deemed appropriate by the IC.
The Chair of the IC is elected by the Board and must be a member of the Board.
External IC Members
The Board conducts the recruitment and selection process for external IC members. External members are selected based on their senior level of experience and knowledge of institutional investments, risk management, and pension governance and funding. They are appointed to the IC by the Board for a two- or three-year term and may serve on the IC for up to a maximum of ten consecutive years. Their performance is evaluated by the Board annually.
Current external IC members are below.