2022 annual report

Message from the Chairman and the CEO

Pierre Patry

Yvan Duceppe
Chair of the Board

Pierre Patry

Éric Filion
Chief Executive Officer

In 2022, we proudly celebrated our 35th anniversary as a solid, responsible and committed union organization!
Founded in 1987, our retirement system is a unique Québec institution, whose creation was made possible thanks to the conviction of its pioneering and forward-looking builders.

Bâtirente continues to demonstrate its relevance for the successful retirement of CSN union members and by its contribution to the union movement. It accomplishes this through a close collaboration with its partners and its various bodies within the federations, central councils and group instruments.

With this in mind, Bâtirente developed a new strategic plan in 2022 to guide its actions through 2025. The plan outlines Bâtirente’s ambition regarding its members and focuses on three main priorities: placing members at the centre of our actions, highlighting Bâtirente’s value to partners in the CSN ecosystem, and supporting the development of talent and practices.

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Responsible investment leader
Over the past 35 years, Bâtirente’s concrete actions time and again have defined it as a leader in responsible investment. As one of the first asset owners to adopt a responsible investment policy in the early 2000s, it was also among the initial signatories of the Principles for Responsible Investment in 2006. Today, we continue to act in line with four key elements: investing, measuring, engaging and cooperating.

In terms of engagement, we are especially pleased by the major partnership developed with Fondaction at the end of 2022, which aligns with our collaboration values and serves as a barometer for the achievement of our shared responsible investment goals. A further step was taken in the pooling of our shareholder engagement efforts in Québec when we renewed our confidence early on in Æquo, Shareholder Engagement Services, and announced that Fondaction was joining Æquo’s share capital to support them in their growth.

“Bâtirente also made an important climate commitment in response to the climate crisis. We unveiled positive results in 2022 that are encouraging for the future, and we are well on track to reaching our goals for 2025.”

Bâtirente also made an important climate commitment in response to the climate crisis. We unveiled positive results in 2022 that are encouraging for the future, and we are well on track to reaching our goals for 2025. We reduced our carbon footprint by 16% in three years. Since 2018, assets invested in impact strategies have increased by $140M and now total 24% of all mandates entrusted Bâtirente is proud of its history but also determined to keep moving forward with its mission to help its 26,000 members from 318 groups achieve a successful retirement. The last few years have brought their share of challenges: a pandemic, market volatility and even a climate crisis. As such, more than ever, Bâtirente needs to be there for unions and their members to help them navigate an increasingly complex world. to managers. We were also very active through our partner Æquo, which held climate dialogues with 26 companies.

Lastly, in connection with the COP15 that took place in Montréal in December 2022, Bâtirente signed the Financial sector statement on biodiversity for COP15 drafted by the UNEP FI, PRI and Finance for Biodiversity Foundation.

Honouring our Builders
Bâtirente is a decidedly forward-thinking organization yet one that remains very proud of its roots. During the 2022 annual general meeting, we paid tribute to Daniel Simard. This passionate activist and first CEO of the corporation retired last year, after a 44-year career within the CSN movement. He was inducted into the Builders’ Honour Roll. We are deeply grateful for his contributions to our organization.

Making a difference in the lives of our members
In 2022, despite the persistent pandemic and historical volatility in financial markets, Bâtirente achieved remarkable results. We reached a record level of contributions, which demonstrates the attractiveness of our offer to CSN unions.

Moreover, despite the difficult situation for financial markets, our team deftly weathered the storm to protect our members’ portfolios while achieving excellent added value for them.

None of this would have been possible without the efforts of our employees, who maintained close contact with unions and their members across Québec throughout the year, showcasing their attentiveness and expertise. We wish to thank them for that.

“In 2022, despite the persistent pandemic and historical volatility in financial markets, Bâtirente achieved remarkable results. We reached a record level of contributions, which demonstrates the attractiveness of our offer to CSN unions.”

A productive year for the board of directors
Board directors also worked on several major projects, including the one addressing board and committee diversity. There was a keen sense of pride in the board’s resolution to continue encouraging diversity of age, gender and culture. A global parity target was adopted, to be reached by no later than the 2025 annual general meeting, for positions held by Category A and C representatives as well as for external members.

During the annual general meeting, Hélène Jacques was re-elected for a second term and confirmed as Vice-Chair. Also elected as Category A representatives were Christian Cyr, Coordinator of the Comité intersectoriel du secteur privé of the CSN, for a third term; and Simon Mathieu Malenfant, Vice-President, Treasury, of the FEESP-CSN union, for a first term. Elected Category B representatives were Nicolas Docquier of the Syndicat national des employés du papier de Candiac labour union, for a second term; Pierre Leduc of the Syndicat national des produits chimiques de Valleyfield (CSN) union, for his fourth term; and Kevin Gagnon of the Syndicat des Travailleuses et Travailleurs de Bridgestone de Joliette (CSN) union, for his first term. Congratulations to all of them!

We also extend our thanks to all members of the board and external committees for their commitment and contribution to the corporation’s success. The work and dedication of every one of them make Bâtirente a strong, efficient and responsible organization benefiting its members.

Thirty-five years of history


During its 1984 convention, the Confédération des syndicats nationaux (CSN) adopts the proposal to institute a group RRSP for its members. On September 23, 1987, Bâtirente’s group RRSP takes shape with the signing of the first group annuity contract with SSQ Life. The first general meeting of group representatives is held in 1988. In 1995, Bâtirente becomes a non-profit organization, and Daniel Simard is appointed General Coordinator of the corporation in 2000.


In addition to its RRSP, Bâtirente develops a strong and comprehensive product offering: the simplified pension plan (SPP), deferred profit-sharing plan (DPSP) and multi-employer pension plan (federal MEPP). These are followed by the tax-free savings account (TFSA), registered retirement income fund (RRIF) and life income fund (LIF). In 2011, the company expands its offering with Trajectory, a turnkey investment strategy, and Plannuity, a personalized retirement income planning and support service.


In 2005, Bâtirente integrates environmental, social and governance (ESG) criteria into its investment policy, through its Statement on Principles and Procedures for Corporate Social Responsibility and Corporate Governance and its Extrafinancial Risk Management Guidelines. In 2006, Bâtirente is one of the first signatories of the United Nations’ Principles for Responsible Investment (PRI).


In 2014, Bâtirente is among the first signatories of the Montréal Carbon Pledge. In 2015, in partnership with the Regroupement pour la responsabilité sociale des entreprises (RRSE), Bâtirente founds Æquo, Shareholder Engagement Services, with the goal of making these services available to Québec’s institutional investment community. Bâtirente unveils its Climate Commitment in 2020, with the following four 5-year goals: reduce its climate risk exposure by 50%, double its transition investments thanks to impact investing, target its shareholder engagement to improve companies’ climate performance, and lastly, collaborate with its partners on the transition to a low-carbon economy.


In 2020, Bâtirente announces the creation of an honour roll in recognition of the organization’s Builders. Léopold Beaulieu is inducted as the very first Builder. He is joined in 2021 by Jacques Allard (inducted posthumously) and Claude Rioux. In 2022, Daniel Simard is added to that list. A passionate activist and the corporation’s first CEO, he retires in 2022, after a 44-year career within the CSN movement.


At the end of 2021, Éric Filion is appointed by the board to take over the reins as CEO. He establishes a management committee composed of Marie-Claude Baker Prud’homme, Director, Finances, Governance and Risks; Vickie Lavoie, Chief Operating Officer; and Hélène Marcoux, Director, Development.

The year 2022 is marked by a strategic reflection exercise, during which the board and team adopt ambitious targets to be reached by 2025 while reiterating the corporation’s organizational values: integrity, solidarity, social responsibility, proximity, collaboration and excellence.

In December 2022, board members resolve to generally encourage diversity (age, gender and cultural) within the board and committees; they also adopt a male-female parity target for 2025.




Group loyalty


Average fee rate

Accumulated savings

Pensions paid to retirees


of mandates in impact strategies

Climate commitment
positive results
after 2 years

Positive results for
45 objectives
73% of which climate-related


10-year returns for the Provident Diversified Fund

fund returns outperforming benchmark indices in 2022

average value added for Diversified Funds compared to their benchmark portfolio in 2022

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