Investment strategy

The JSA governs all activities of the TPPC and specifies certain minimum funding requirements that must be attained by the Plan over future periods; these funding requirements serve as a mechanism for monitoring the long-term sustainability of the Plan.

The primary objectives of the TPPC’s investment strategy are to ensure the Plan can meet pension obligations as they come due and to fulfil the funding requirements outlined in the JSA.

To achieve these objectives, the assets are invested such that investment risk is balanced with investment return, ensuring the long-term sustainability of the Plan.

Statement of Investment Policies and Procedures (SIPP)

The Plan's investment strategy is formally articulated and governed by the TPPC’s Statement of Investment Policies and Procedures (the "SIPP"). The SIPP outlines the governance arrangements for the Plan, together with the asset allocation strategy, risk tolerance, permitted asset classes and risk constraints, conflict of interest policies, monitoring procedures, and the Plan’s socially responsible investing strategy.

The TPPC's Board of Directors is responsible for approving the SIPP on an annual basis – most recently done in March 2020.