2015 HIGHLIGHTS
our members:
our roots,
our future...
Born out of the CSN labour
movement, Bâtirente is moved by
the same will to meet the need
of workers and their families to
achieve income security and
decent living conditions.
A
lmost 30 years ago, the CSN requested
Bâtirente to establish a retirement system that would allow union members
to build for themselves, throughout their
active life, a stable and solid retirement
income based on the strength of its members’
collective savings.
Bâtirente is guided by these principles:
always put our members’ interest first,
maintain our independence from financial
institutions through the maximization of our
pooled savings, implement financial practices consistent with our social values and
propose risk-adjusted investments whilst
minimizing fees.
Nowadays, Bâtirente represents a benchmark associative model on the retirement
plan market. As a non-profit corporation,
the relationship that we maintain with our
300 groups and our 20,000 members is not
mercantile in nature. It is strictly driven
by our determination to contribute to their
retirement outcome.
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The core of Bâtirente’s
mission is to offer a dependable retirement system
to the groups that rely on us.
To fulfill its responsibilities,
Bâtirente must maintain
transparent and democratic
governance practices.
In the spirit of continuous
improvement and to get
closer to our groups, our
members and our labour
origins, Bâtirente adopted
major governance structure
changes. From now on, group
representatives will have
a voice within the annual
meeting of the members
of our corporation and will
be able, from 2016, to elect
board members, to make
recommendations to the
board of directors, to adopt
financial statements and
to appoint auditors.
E
very year, Bâtirente gives the reputable survey firm SOM a mandate
to complete a satisfaction survey
with our members. We are pleased
to see that, once again this year, a
great many of you agree that Bâtirente
is a trustworthy organization (85 percent). We are even more delighted by
the fact that an increasing number of
members are interested in their retirement plan (65 percent in 2015 versus
49 percent in 2014).
In 2015, close to 150 new retirees opened
Bâtirente retirement benefit plans, and
the $16.2 M that were transferred to these
plans represented a 70 percent increase.
Meanwhile, 158 members began a
retirement coaching process with one of
our professionals. This is a new height.
The total value of paid benefits, which
peaked at $2.7 M in 2011, reached $5.9 M
in 2015.
The progression of our assets to
$536.6 million in 2015 (6.2 percent)
allows us to improve the services provided to our members. Thus, our development team acquired three new
professionals to support our groups,
provide members with training or advise future retirees.
9.6
8.4
6.2
7.1
16.2
Your trust drives us to constantly improve the tools and services that we
offer members, to make their retirement planning easier. The way that
our Plannuity service encourages ever
greater numbers of retired members to
extend their membership in Bâtirente
bears witness to your trust.
Total assets under
management allocation
in millions of dollars
n Group
n retirement plans
n Associated
n institutions
n Shareholder
Retirement
benefit plans
n engagement
n mandates
in millions
of dollars
536.6
5.9
5.6
4.2
3.2
2.7
Converted assets
336.6
2011
2012
2013
2014
2015
Paid benefits
Scan our
complete annual
report at:
batirente.qc.ca
35.5
1.02
in %
1.10
1.17
1.30
Annualized gross returns
n Bâtirente Diversified Funds
n Target portfolio
2010
2012
2014
2016
Changes in average
management fee
rate (in %)
For participants
linked to a group
5.6 5.4
3.8 4.0
The pooling of savings and the mutualisation of costs allow Bâtirente to offer
high quality retirement plans at the lowest cost. In 2016, 25 percent of members
signed up to groups are paying fees below 1 percent, and the average fee rate
for all groups is 1.02 percent.
This fee level makes all the difference for retired individuals because
the lower their fees are, the higher their
retirement income can be. In other
words, all other conditions being equal
(same assets, same returns, same benefit), the retirement income of retirees
who enjoy lower fees will last longer.
Low management fees are the key variable for a successful savings strategy!
Income
6.4 5.8
5.7 5.2
3.9 3.6
Patrimonial
8.9 8.4
7.2 6.7
4.8 4.6
5.9
5.2
$200,000
Provident
$150,000
$100,000
10.9
$50,000
10.3
8.4
65 yrs
70
75
80
85
90
5.8 5.3
7.6
6.6
5.6
Impact on the duration
of a $1 ,000 monthly
retirement benefit
Intrepid
n Bâtirente RRIF/LIF
n Average fee rate of 1.02%
11.9 11.4
n Retail market RRIF/LIF
n Average fee rate of 2.50%
6.0 5.7
Energetic
1yr
3 yrs 5 yrs 10 yrs
The labour movement advocates
for the common good.
Proud of our roots, we work
for the collective interest
through the implementation of
responsible investment.
Bâtirente commits to a finance
that seeks to reconcile the
interest of saving individuals and
the long-term well-being
of the collectivity.
You will find the complete carbon
footprint disclosure report in the pressroom
of our Website.
Since 2014, Bâtirente has been shifting towards
electronic communications. Nowadays, 14 percent of
our members are checking their accounts, financial
statements or tax slips online, or completing various
transactions online. The OnTarget Retirement® financial planning tool provided on the Member Services
Website allows members to try various retirement
income scenarios after entering basic information
and to take the steps required to meet their goals.
® Registered trademark owned by
Desjardins Financial Security,
Life Assurance Company
Do you
have access to
the Member Services
Website? To gain access,
click on My account in the
Bâtirente Website home
page and follow the
instructions.
Subscribe to
Bâtirente’s mailing
list at the top of our
Website home page to
receive the Votre
Chemin e-newsletter
(in French only).
1-800-463-6984
batirente.qc.ca
13198E28 (2016-05)
In 2014, Bâtirente signed the Montréal
Carbon Pledge and agreed, as a responsible investor, to disclose the carbon
footprint of its portfolios. This was completed in December 2015! By measuring
the carbon footprint of its portfolios,
Bâtirente took a new step towards acting
on climate change. Actually, knowing exactly where greenhouse gas (GHG) emissions occur in equity portfolios allows
us to start reducing them.
As early as November 2015, we were
making a first move in that direction.
We transferred 10 percent of our global
equity investments to a strategy based
on sustainable growth. The fund, which
completely avoids the fossil fuel sector,
invests its assets in innovative companies that typically market products
or services aimed at reducing GHG emissions, improving energy efficiency or
improving waste water treatment. In
view of the major challenge that climate change represents for humanity,
these new sectors seem to have a bright
future ahead of them.
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