Bâtirente celebrates its 30th anniversary, stronger and more comprehensive than ever
Montréal, October 19, 2017 – Bâtirente recently celebrated its 30th anniversary. In fact, on September 27, 1987 the CSN launched the Bâtirente group retirement system, which was the first step in what was to become the comprehensive retirement system that we know today, serving 20,000 workers grouped in 300 labour unions.
“The creation of Bâtirente in 1987 made it possible for the unions who wished to meet the needs of their members to play an active role in their financial security,” said Pierre Patry, President of Bâtirente and Treasurer of the CSN. “Hence, over the past 30 years, Bâtirente has become a significant tool greatly appreciated by the unions.”
It should be remembered that at the time of its establishment, 42% of private sector unions had no corporate pension plan, while 40% of those that had plans were judged to be highly insufficient. Bâtirente’s constant progression proved that it filled this critical need. The first deposits were made in January 1988 and now, 30 years later, assets under management are close to $600 million.
“Bâtirente’s advance over the years is a reflection of its significant contribution to union activities,” declared Mr. Daniel Simard,Chief Executive Officer. “Although the current retirement issues are different from those of the past, it is striking to see the extent to which Bâtirente continues to be a relevant tool for the unions and their members.”
To mark this occasion, Bâtirente posted on its online site, batirente.qc.ca, a page describing the major milestones of Bâtirente’s history in pictures and in words. Different activities will also be planned during the coming year to celebrate this anniversary and to highlight the contribution of Bâtirente’s builders.
Bâtirente is a group retirement system created in 1987 at the initiative of the CSN. It allows 20,000 workers, grouped in 300 labour unions, to benefit from pension plans tailored to their needs by pooling their savings.
A pioneer in responsible investing in Quebec, Bâtirente believes that actively managing its investee companies’ environmental, social and governance (ESG) risks helps ensure long-term economic and social development, as well as sound capitalization of the pension plan, which are both required for sustainable financial performance.
Katya Vanbeselaere, Communications Manager
514 525-5740 ext. 2425