{"id":10656,"date":"2024-08-13T08:41:32","date_gmt":"2024-08-13T08:41:32","guid":{"rendered":"https:\/\/elcicgsi.ca\/?p=10656"},"modified":"2024-10-17T17:58:39","modified_gmt":"2024-10-17T17:58:39","slug":"august-pension-newsletter-8","status":"publish","type":"post","link":"https:\/\/dev.elcicgsi.ca\/?p=10656","title":{"rendered":"August 2024 Pension"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243; top_margin=&#8221;0&#8243; bottom_margin=&#8221;0&#8243; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; class=&#8221;enews&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;10659&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; animation_easing=&#8221;default&#8221; animation_movement_type=&#8221;transform_y&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;none&#8221; box_shadow=&#8221;none&#8221; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221;][\/vc_column][vc_column top_padding_desktop=&#8221;5&#8243; bottom_padding_desktop=&#8221;0&#8243; top_margin=&#8221;0&#8243; bottom_margin=&#8221;0&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; el_class=&#8221;enews&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;advanced&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;In this Issue&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; google_fonts=&#8221;font_family:Domine%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal&#8221;]<div class=\"nectar-fancy-ul link_style_opacity\" data-list-icon=\"fa fa-bookmark\" data-animation=\"false\" data-animation-delay=\"0\" data-color=\"accent-color\" data-spacing=\"default\" data-alignment=\"left\"> \n<ul>\n<li><a href=\"https:\/\/dev.elcicgsi.ca\/?p=10656#statements\">July Pension Statements<\/a><\/li>\n<li><a href=\"https:\/\/dev.elcicgsi.ca\/?p=10656#mental-health\">Mental Health and Retirement<\/a><\/li>\n<li><a href=\"https:\/\/dev.elcicgsi.ca\/?p=10656#results\">Q2 Investment Results<\/a><\/li>\n<\/ul>\n <\/div>[\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;rgba(255,255,255,0.96)&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243; left_padding_desktop=&#8221;0&#8243; right_padding_desktop=&#8221;0&#8243; top_padding_tablet=&#8221;5&#8243; bottom_padding_tablet=&#8221;5&#8243; left_padding_tablet=&#8221;5&#8243; right_padding_tablet=&#8221;5&#8243; top_padding_phone=&#8221;5&#8243; bottom_padding_phone=&#8221;5&#8243; left_padding_phone=&#8221;5&#8243; right_padding_phone=&#8221;5&#8243; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;20px&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;statements&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; left_margin=&#8221;0&#8243; left_margin_tablet=&#8221;5&#8243; left_margin_phone=&#8221;5&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][image_with_animation image_url=&#8221;10686&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; animation_easing=&#8221;default&#8221; animation_movement_type=&#8221;transform_y&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;center&#8221; border_radius=&#8221;custom&#8221; box_shadow=&#8221;none&#8221; top_left_border_radius=&#8221;20&#8243; top_right_border_radius=&#8221;20&#8243; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221; el_class=&#8221;enews-banner&#8221;][\/vc_column][vc_column column_padding=&#8221;padding-3-percent&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;left-right&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color=&#8221;#ffffff&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; el_class=&#8221;enews&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][vc_custom_heading text=&#8221;Please Review Your Statement!&#8221; font_container=&#8221;tag:h2|text_align:center|color:%2387b943&#8243; google_fonts=&#8221;font_family:Domine%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal&#8221; css=&#8221;.vc_custom_1723432677151{margin-bottom: 0px !important;border-bottom-width: 0px !important;padding-bottom: 0px !important;}&#8221; el_class=&#8221;enews&#8221;][vc_column_text el_class=&#8221;enews&#8221; css=&#8221;.vc_custom_1723475799929{padding-bottom: 0px !important;}&#8221;]ELCIC Pension Plan statements and Continuing Education Plan statements were sent out <strong>the week of July 22nd<\/strong>.<\/p>\n<p>Please review to ensure all <strong>contributions made are recorded<\/strong>.\u00a0Also check <strong>address<\/strong> and <strong>beneficiary<\/strong> information.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;rgba(135,185,67,0.02)&#8221; scene_position=&#8221;center&#8221; bottom_padding=&#8221;0&#8243; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;20px&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;mental-health&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; bottom_margin=&#8221;0&#8243; left_margin=&#8221;0&#8243; right_margin=&#8221;0&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color=&#8221;rgba(255,0,0,0.02)&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;custom&#8221; top_left_border_radius=&#8221;20&#8243; top_right_border_radius=&#8221;20&#8243; bottom_right_border_radius=&#8221;20&#8243; bottom_left_border_radius=&#8221;20&#8243; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][image_with_animation image_url=&#8221;10699&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; animation_easing=&#8221;default&#8221; animation_movement_type=&#8221;transform_y&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;center&#8221; border_radius=&#8221;custom&#8221; box_shadow=&#8221;none&#8221; top_left_border_radius=&#8221;20&#8243; top_right_border_radius=&#8221;20&#8243; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221; el_class=&#8221;enews-banner&#8221;][vc_custom_heading text=&#8221;Preparing for a Healthy Retirement&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; google_fonts=&#8221;font_family:Domine%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal&#8221; el_class=&#8221;enews-h2&#8243; css=&#8221;.vc_custom_1723487092808{margin-bottom: 0px !important;border-bottom-width: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221; css=&#8221;.vc_custom_1714667706332{margin-bottom: 0px !important;border-bottom-width: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner bottom_padding_desktop=&#8221;0&#8243; left_padding_desktop=&#8221;20&#8243; right_padding_desktop=&#8221;20&#8243; bottom_margin=&#8221;0&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; overflow=&#8221;visible&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;advanced&#8221; gradient_type=&#8221;default&#8221;][vc_column_text el_class=&#8221;enews&#8221;]Talking about money and talking about mental health can both be difficult. Combining the two is even more difficult, but it&#8217;s important to think about the financial challenges that mental health can bring in retirement. Two aspects in particular of mental health are important as we look ahead to retirement.<\/p>\n<h3>1. Cognitive Decline<\/h3>\n<p>Ideally, we hope to remain <strong>mentally sharp all throughout our senior years<\/strong>. Eating a healthy diet, getting enough exercise and sleep, avoiding smoking and excessive drinking, engaging in mentally challenging activities (such as learning a language or travelling to a new place) and managing stress can all help<strong> improve your chances<\/strong> of being able to remember all the grandchildren&#8217;s names in your nineties.<\/p>\n<p>But the role of <strong>genetics and the challenges of life<\/strong> mean that cognitive decline may happen. It&#8217;s wise to prepare financially for that possibility when you are <strong>younger and still able to make sound decisions<\/strong>. Wills should be written and updated. Discussions should be had with family about avoiding financial scams \u2014 and about how they can help you avoid them should you lose mental acuity. The possibility of eventually requiring home care or a care home should be factored into financial planning. Consideration as to whether a product that requires less decision making (e.g., an annuity) would provide greater security as cognition declines.<\/p>\n<h3>2. Cost of Treatment<\/h3>\n<p><a href=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-10702 size-medium alignright\" src=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling-300x206.png\" alt=\"\" width=\"300\" height=\"206\" srcset=\"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling-300x206.png 300w, https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling-1024x703.png 1024w, https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling-768x527.png 768w, https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/08\/counselling.png 1290w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>In many cases, <strong>medications and\/or other treatments<\/strong> (e.g., counselling) can make the difference between surviving and thriving with a mental health condition. How you will continue to pay for this treatment in retirement, when income is lower and your benefits plan may not be as good?<\/p>\n<p>Sun Life Financial Inc. did a study last November and found that among the baby boomers who live with a chronic physical or mental health condition requiring medication or treatment, only 32% had changed or considered changing their retirement plans to account for these costs. (Cited by Benefits Canada Jan\/Feb 2024)<\/p>\n<p>Factoring these costs and other potential mental health costs into financial retirement plans can protect you from having to navigate mental health challenges without adequate supports as you age.[\/vc_column_text][divider line_type=&#8221;Small Line&#8221; line_alignment=&#8221;center&#8221; line_thickness=&#8221;2&#8243; divider_color=&#8221;extra-color-1&#8243; custom_height=&#8221;3&#8243;][vc_column_text el_class=&#8221;enews&#8221;]\n<h3>3. Counselling with the Retiree Health Plan<\/h3>\n<p>When you retire, if you opt to sign up for the Retiree Health Plan, you will have some mental health coverage through that. That plan currently comes with $2500 combined for:<\/p>\n<ul>\n<li>Psychologist<\/li>\n<li>Clinical Therapist<\/li>\n<li>Marriage and Family Therapist (MFT)<\/li>\n<li>Masters in Social Work (MSW)<\/li>\n<li>Registered Social Work (RSW)<\/li>\n<li>Registered Psychotherapist<\/li>\n<\/ul>\n<p>If you are unsure if your therapist will qualify, please call Manulife first to confirm.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#ffffff&#8221; scene_position=&#8221;center&#8221; top_padding=&#8221;0&#8243; left_padding_desktop=&#8221;5&#8243; right_padding_desktop=&#8221;5&#8243; top_margin=&#8221;0&#8243; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; id=&#8221;results&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; el_class=&#8221;enews&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][image_with_animation image_url=&#8221;10664&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;Fade In&#8221; animation_easing=&#8221;default&#8221; animation_movement_type=&#8221;transform_y&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;center&#8221; border_radius=&#8221;custom&#8221; box_shadow=&#8221;none&#8221; top_left_border_radius=&#8221;20&#8243; top_right_border_radius=&#8221;20&#8243; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221; el_class=&#8221;enews-banner&#8221;][vc_custom_heading text=&#8221;Investment Results for the Second Quarter of 2024&#8243; font_container=&#8221;tag:h2|text_align:center&#8221; google_fonts=&#8221;font_family:Domine%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal&#8221;][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221; css=&#8221;.vc_custom_1702227614107{padding-right: 20px !important;padding-left: 20px !important;}&#8221;][vc_column_inner bottom_padding_desktop=&#8221;0&#8243; bottom_margin=&#8221;0&#8243; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color=&#8221;#ffffff&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; overflow=&#8221;visible&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;advanced&#8221; gradient_type=&#8221;default&#8221;][vc_column_text el_class=&#8221;enews&#8221;]<span data-contrast=\"none\">The ELCIC Pension Plan investments provided a <strong>positive return of 1.1%<\/strong> this quarter, bringing the year-to-date result to 6.0% (up from 4.9% at the end of March).\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The <strong>economy continued to grow in the United States<\/strong> but was weaker in other developed countries over this last quarter. Even within the United States some companies did really well, mostly those with strong <strong>Artificial Intelligence initiatives,<\/strong> while other companies had a bit more of a struggle to post positive returns.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Details for each fund and for each quarter compared to a benchmark can be found below.<strong> Top ten stocks for each portfolio<\/strong> can be found <a href=\"https:\/\/dev.elcicgsi.ca\/?page_id=126\" target=\"_blank\" rel=\"noopener\">on the GSI website<\/a>.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][toggles style=&#8221;default&#8221; border_radius=&#8221;none&#8221;][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;ELCIC Pension Plan&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzNCUyMCUyRiU1RA==[\/vc_raw_html][\/toggle][\/toggles][vc_column_text el_class=&#8221;enews&#8221;]\n<h3>Growth Fund<\/h3>\n<p><span class=\"TextRun SCXW261106099 BCX8\" lang=\"EN-CA\" xml:lang=\"EN-CA\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW261106099 BCX8\" data-ccp-parastyle=\"No Spacing\">Here is a closer look at each portfolio within the Growth Fund.<\/span><\/span><span class=\"EOP SCXW261106099 BCX8\" data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span>[\/vc_column_text][toggles style=&#8221;default&#8221; border_radius=&#8221;none&#8221;][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;PH&amp;N Canadian Equity Value Fund&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzNSUyMCUyRiU1RA==[\/vc_raw_html][vc_column_text el_class=&#8221;enews&#8221;]In this last quarter, the Canadian stock came to a standstill after a great first quarter. The three-month return for the index was -0.5. The PH&amp;N Canadian Equity Value Fund missed the index return slightly, coming in at -0.6%. \u00a0PH&amp;N stated that,\u201d lack of exposure to certain gold and silver producers in the Materials sector was the primary driver for the underperformance.\u201d[\/vc_column_text][\/toggle][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;RBC Global Equity Focus Pension Trust&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzNiUyRiU1RA==[\/vc_raw_html][vc_column_text el_class=&#8221;enews&#8221;]<span class=\"TextRun SCXW246816966 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW246816966 BCX8\" data-ccp-parastyle=\"No Spacing\">RBC reported that the global markets had positive returns that were primarily from larger companies and specifically those with a connection to artificial intelligence. <\/span><span class=\"NormalTextRun SCXW246816966 BCX8\" data-ccp-parastyle=\"No Spacing\">RBC has the view that a recession will likely not occur in the year ahead as earlier recession signals have reversed and the global economy is performing well with the higher interest rates and other challenging factors.<\/span><\/span><span class=\"EOP SCXW246816966 BCX8\" data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span>[\/vc_column_text][\/toggle][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;Baillie Gifford Global Equity Fund&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzNyUyMCUyRiU1RA==[\/vc_raw_html][vc_column_text el_class=&#8221;enews&#8221;]Baillie Gifford offers these comments on their performance in Q2\u00a0 (April to June 2024):<\/p>\n<p style=\"padding-left: 40px;\"><span data-contrast=\"none\">&#8220;This quarter saw a continuation of market concentration around the so-called \u2018Magnificent 7\u2019 (Apple, Microsoft, NVIDIA, Meta, Alphabet, Tesla, and Amazon). Whilst we invest in many of these stocks on your behalf, extreme concentration in the index (most extreme in <\/span><span data-contrast=\"none\">approximately four <\/span><span data-contrast=\"none\">4<\/span><span data-contrast=\"none\"> decades) has been a headwind for the relative performance of your more diversified Global Alpha portfolio. <\/span><span data-contrast=\"none\">We have the latitude to invest in a spectrum of opportunities and are increasingly excited by opportunities beyond the obvious. <\/span><\/p>\n<p style=\"padding-left: 40px;\"><span data-contrast=\"none\">Elsewhere, a soft US construction market impacted CRH and Martin Marietta Materials&#8217; shares, but their long-term outlook remains strong, buoyed by multi-decade US infrastructure-upgrade demand. And finally, short-term, consumer-related fears weighed on the share prices of Ryanair (low-cost airline) and Doordash (food delivery). These two stocks are long-term growth engines for the portfolio, and we are discussing adding to the positions on weakness as we seek to take advantage of a myopic market environment.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span data-contrast=\"none\">\u00a0We acknowledge that the relative performance is not where you want it to be. However, we also know the portfolio is packed with companies run by exceptional management teams that are investing in the future. When the market broadens out, with its wide-angled view of overlooked growth opportunities, it is in a prime position to reap the rewards.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><span data-contrast=\"none\">\u202f<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span data-contrast=\"none\">The Global Alpha portfolio reflects an eclectic and expanding set of opportunities, and we are confident it will deliver in the years ahead.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">&#8220;<\/span><\/p>\n[\/vc_column_text][\/toggle][\/toggles][vc_column_text el_class=&#8221;enews&#8221;]\n<h3>Fixed Income Fund Results<\/h3>\n<p>Here are the results of the Fixed Income portfolios.[\/vc_column_text][toggles style=&#8221;default&#8221; border_radius=&#8221;none&#8221;][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;PH&amp;N Core Plus Bond Fund&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzOCUyMCUyRiU1RA==[\/vc_raw_html][vc_column_text el_class=&#8221;enews&#8221;]<span class=\"TextRun SCXW192805477 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW192805477 BCX8\" data-ccp-parastyle=\"No Spacing\">The big news for the Canadian bond market is that the Bank of Canada lowered its rate by 0.25% to 4.75% in June. While there is optimism that rate cuts will continue, it may depend somewhat on what the U.S.\u2019s policy will be, since Canada moving in a different direction or at a different pace will have an impact on the value of the Canadian dollar.\u00a0<\/span><\/span>[\/vc_column_text][\/toggle][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;PH&amp;N Mortgage Pension Trust&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDEzOSUyMCUyRiU1RA==[\/vc_raw_html][vc_column_text el_class=&#8221;enews&#8221;]<span class=\"TextRun SCXW250006850 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\">The PH&amp;N Mortgage Pension Trust (MPT) is a portfolio of first rank mortgage on income-producing commercial properties in Canada. The MPT returned 1.5% this quarter, which is over the index by 0.3%. The mortgages in this fund<\/span><span class=\"NormalTextRun SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\"> are<\/span><span class=\"NormalTextRun SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\"> supported by strong demand and limited new supply in the real estate market. <\/span><span class=\"NormalTextRun SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\">PH&amp;N stated<\/span><span class=\"ContextualSpellingAndGrammarError SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\">, \u201dOver<\/span><span class=\"NormalTextRun SCXW250006850 BCX8\" data-ccp-parastyle=\"No Spacing\"> the longer term, the Fund is in a healthy position with stable cash flows and well positioned to navigate an uncertain real estate market.\u201d<\/span><\/span><span class=\"EOP SCXW250006850 BCX8\" data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span>[\/vc_column_text][\/toggle][toggle color=&#8221;Default&#8221; heading_tag=&#8221;default&#8221; heading_tag_functionality=&#8221;default&#8221; title=&#8221;PH&amp;N High Yield Mortgage Fund&#8221;][vc_raw_html]JTVCdGFibGUlMjBpZCUzRDE0MCUyMCUyRiU1RA==[\/vc_raw_html][\/toggle][\/toggles][vc_row_inner column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; text_align=&#8221;left&#8221; row_position=&#8221;default&#8221; row_position_tablet=&#8221;inherit&#8221; row_position_phone=&#8221;inherit&#8221; overflow=&#8221;visible&#8221; pointer_events=&#8221;all&#8221;][vc_column_inner column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; overflow=&#8221;visible&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;.vc_custom_1723005398943{margin-top: 0px !important;border-top-width: 0px !important;padding-top: 0px !important;border-radius: 1px !important;}&#8221; el_class=&#8221;enews-footnote&#8221;]<span class=\"TextRun SCXW101683347 BCX8\" lang=\"EN-CA\" xml:lang=\"EN-CA\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW101683347 BCX8\" data-ccp-parastyle=\"No Spacing\">Please note that information is not intended to be investment advice or to be a recommendation for your personal investment portfolio. The content is intended for information purposes only and should not be disclosed to other third parties or used for the purposes of market timing or seeking to gain an unfair advantage.<\/span><\/span><span class=\"EOP SCXW101683347 BCX8\" data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;rgba(113,199,216,0.1)&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;center&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; advanced_gradient_angle=&#8221;0&#8243; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][image_with_animation image_url=&#8221;10541&#8243; image_size=&#8221;full&#8221; animation_type=&#8221;entrance&#8221; animation=&#8221;None&#8221; animation_movement_type=&#8221;transform_y&#8221; hover_animation=&#8221;none&#8221; alignment=&#8221;&#8221; border_radius=&#8221;custom&#8221; box_shadow=&#8221;none&#8221; top_left_border_radius=&#8221;20&#8243; top_right_border_radius=&#8221;20&#8243; image_loading=&#8221;default&#8221; max_width=&#8221;100%&#8221; max_width_mobile=&#8221;default&#8221; el_class=&#8221;enews-banner&#8221;][vc_custom_heading text=&#8221;We welcome your questions &amp; feedback!&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; google_fonts=&#8221;font_family:Domine%3Aregular%2C700|font_style:700%20bold%20regular%3A700%3Anormal&#8221;][vc_column_text el_class=&#8221;enews&#8221;]please write to us:<a href=\"mailto:admin@elcicgsi.ca\"> admin@elcicgsi.ca<\/a><br \/>\nor call toll free: 1-877-352-4247 (in Winnipeg 204-984-9181)<br \/>\ninformation and resources can also be found on the <a href=\"https:\/\/dev.elcicgsi.ca\">GSI website<\/a>[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>Topics include: July Pension Statements, Mental Health &#038; Retirement, and Q2 Investment Results. <\/p>\n","protected":false},"author":13,"featured_media":10967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[34],"post_folder":[18,20],"class_list":{"0":"post-10656","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planmembers","8":"tag-pension"},"featured_image_src":"https:\/\/dev.elcicgsi.ca\/wp-content\/uploads\/2024\/10\/Pension-News.jpeg?ver=1727747854","author_info":{"display_name":"Faithful Servant","author_link":"https:\/\/dev.elcicgsi.ca\/?author=13"},"_links":{"self":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts\/10656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10656"}],"version-history":[{"count":0,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/posts\/10656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=\/wp\/v2\/media\/10967"}],"wp:attachment":[{"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10656"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/dev.elcicgsi.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fpost_folder&post=10656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}