[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_fullwidth_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2021\/06\/batisseurs.jpg” title_text=”batisseurs” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_fullwidth_image][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”||0px|” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”||0px|” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_post_title meta=”off” featured_image=”off” _builder_version=”4.24.0″ global_colors_info=”{}”]<\/p>\n
[\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”texte intro” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Founded in 1987, B\u00e2tirente’s retirement system is a unique Qu\u00e9bec institution, whose creation was made possible thanks to the conviction of its pioneering and forward-looking builders.<\/strong><\/p>\n The story behind what would become the retirement system of unionized members of the Conf\u00e9d\u00e9ration des syndicats nationaux<\/em> (CSN) begins as Qu\u00e9bec is in the throes of an employment crisis. The early 1980s would see the decline of large multinationals in the primary and manufacturing sectors offering workers defined-benefit pension funds. Those multinationals are being replaced by SMEs that lack the means to offer such plans. In 1984, on the eve of its 52nd<\/sup> convention, the CSN conducts a study revealing that 42% of collective agreements contain no clauses dedicated to retirement; and that among the unions that do have access to a supplementary pension plan, 40% of members are dissatisfied, as they consider those benefits insufficient; with barely 30% of the plans being under union control. At this point, a discussion is launched on this important issue\u2014and B\u00e2tirente is born.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Mobilizing around retirement” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte Mobilizing around retirement” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The CSN starts focusing on retirement, and discussions on this are held during its 1984 convention. It\u2019s clear to everyone that solutions need to be found that would give workers access to pension funds. The central labour body mobilizes its experts around the topic and adopts the proposal to implement a group RRSP for its members. The project is adopted by the Confederal Council in 1985, and the B\u00e2tirente Group RRSP takes shape on September\u00a023,\u00a01987, with the signing of the first group annuity contract with SSQ Life. That same year, the Syndicat national des produits chimiques de Valleyfield (Expro)<\/em> union becomes the very first group to set up a B\u00e2tirente pension plan.<\/p>\n During the CSN\u2019s 54th<\/sup> Convention in 1988, B\u00e2tirente holds its first general meeting of group representatives to elect its first board of directors, namely: Jacques Allard from the Syndicat d\u2019entretien de la STCUM<\/em>; CSN Treasurer L\u00e9opold Beaulieu; Mario Dokianakis of the Syndicat des employ\u00e9s Le Grand H\u00f4tel<\/em>; Fran\u00e7ois Grondin of the STT de Bonaventure (CSN)<\/em>; Pierre Giordani of the STT de l\u2019h\u00f4tel des Gouverneurs Place Dupuis<\/em>; CSN President G\u00e9rald Larose; R\u00e9al Picard of the STT de Beauce Atlas<\/em>; Claude Rioux of the F\u00e9d\u00e9ration des travailleurs et des travailleuses du papier et de la for\u00eat<\/em>; and Daniel Simard of the F\u00e9d\u00e9ration des employ\u00e9es et employ\u00e9s de services publics (FEESP-CSN)<\/em>.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2019\/01\/1987-lancement.jpg” title_text=”1987-lancement” admin_label=”image Lancement du REER” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2019\/01\/1988-premiere-assemblee.jpg” title_text=”1988-premiere-assemblee” admin_label=”image premi\u00e8re aga” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2019\/01\/1987-premier-comite.jpg” title_text=”1987-premier-comite” admin_label=”image Premier conseil d’administration” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Developing the vision” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte Developing the vision” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The first builders develop a novel vision for retirement plans. In fact, B\u00e2tirente dedicates itself to offering high-performance plans based on capital accumulation, thanks to a unique approach using a pooled fee structure. Under this system, unions play a very crucial role since they are at the heart of this system and must take ownership of their plans\u2019 management.<\/p>\n B\u00e2tirente creates a range of retirement savings vehicles geared to all CSN members and uses the leverage of collective bargaining to achieve so-called \u201cfunded\u201d plans\u2014a well-known approach today but considered ground-breaking at the time. It consists of true pools of workers, covered by collective agreements, and managed by unions, acting in the financial interest of their active and retired members.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Corporate origins” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_4,1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}” custom_margin__hover_enabled=”on|desktop”][et_pb_column type=”3_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”texte Corporate origins” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n In 1995, B\u00e2tirente becomes a non-profit organization and a services mutual that returns its profits by offering an extensive range of services to its members, while also\u2014and above all\u2014reducing the management fees paid by its groups. With B\u00e2tirente, this rate decreases as group size and assets increase\u2014a strategy that ensures member loyalty and helps attract further members.<\/p>\n Daniel Simard is appointed General Coordinator of the corporation in 2000. The organization grows quickly with the increase in union participation and volume of assets under management.<\/p>\n Over time, and in response to union demands and legislative changes, B\u00e2tirente adds funded plans to its offering, such as the simplified pension plan (SPP); deferred profit-sharing plan (DPSP); multi-employer pension plan (federal MEPP), to meet the needs of union members in the federal jurisdiction and other provinces; and tax-free savings account (TFSA); as well as withdrawal plans, like the registered retirement income fund (RRIF) and life income fund (LIF).<\/p>\n In 2011, B\u00e2tirente creates Trajectory, a turnkey investment strategy, as well as Plannuity, a personalized retirement income planning and support service. Once again, B\u00e2tirente proves its ability to innovate. In fact, Plannuity offers disbursement tools to retired members, which helps grow the size of the system and its assets under management, while reducing management fees for all members. What’s more, members who retire can stay in their group and thereby benefit from significantly lower management fees than what they would be offered elsewhere in the retail market, which has a direct impact on the level of their benefits.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2022\/09\/Equipe-Batirente-2005.jpg” title_text=”\u00c9quipe B\u00e2tirente 2005″ admin_label=”image \u00e9quipe en 2005″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Fiduciary duty” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte Fiduciary duty” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The important question of fiduciary duty quickly becomes apparent, since a retirement system stemming from a social movement (like that of the CSN) needs to manage the capital entrusted to it by its members in line with the latter\u2019s values of equity, justice and economic democracy.<\/p>\n B\u00e2tirente is already on the path to responsible investment by the end of the 1990s. Spearheaded by Daniel Simard, B\u00e2tirente takes an interest in the influence that members\u2019 assets under management could have on the behaviour of companies in which they are invested. He examines the climate change issue while counting on the fact that the financial world could be mobilized for the common good, especially when broad consensus is reached, as would happen with the Paris Agreement (COP21). With its shareholder engagement efforts, B\u00e2tirente puts the spotlight on issues that did not receive much attention previously\u2014diversity, inclusion, tax havens and Indigenous peoples\u2019 rights\u2014to ensure that companies in which it invests are good corporate citizens.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Responsible investment and shareholder engagement” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_4,1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”3_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”texteResponsible investment and shareholder engagement” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n In 2005, B\u00e2tirente is among the first pension plans in Qu\u00e9bec to integrate environmental, social and governance (ESG) criteria into its investment policy, through its Statement on Principles and Procedures for Corporate Social Responsibility and Corporate Governance<\/em> and its Extrafinancial Risk Management Guidelines<\/em>. Pierre Patry, CSN\u2019s treasurer and chair of B\u00e2tirente for 17 years (2004\u20132020), plays a critical role in the corporation\u2019s integration of responsible investment.<\/p>\n At the same time, the Principles for Responsible Investment (PRI) are about to be launched in New York. In 2006, Daniel Simard makes his way to the New York Stock Exchange to ensure that B\u00e2tirente is among the initial 26 signatories of the PRI alongside the major global funds. He then serves on the UNPRI board until 2015 and helps create the PRI Qu\u00e9bec Network as well as the PRI\u2019s Francophone Advisory Committee. B\u00e2tirente is also one of the initiators of the Qu\u00e9bec Network of PRI Signatories, launched during the Colloque qu\u00e9b\u00e9cois sur l\u2019investissement responsable<\/em> held in Montr\u00e9al in 2013.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2019\/01\/2006-signature-pri.jpg” title_text=”B\u00e2tirente devient signataire des PRI” admin_label=”image kofi annan et daniel” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,3_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2019\/01\/2013-colloqueir.jpg” title_text=”R\u00e9seau qu\u00e9b\u00e9cois d\u2019investisseurs responsables” admin_label=”image daniel colloque ir montr\u00e9al 2013″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”3_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”texte Responsible investment and shareholder engagement” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n In September 2014, B\u00e2tirente is one of the first signatories of the Montr\u00e9al Carbon Pledge, which involves measuring and disclosing portfolios\u2019 carbon risk exposure on an annual basis, but also looking at the various ways to mitigate these risks or even explore new investment opportunities.<\/p>\n In 2015, in partnership with the Regroupement pour la responsabilit\u00e9 sociale des entreprises<\/em> (RRSE), B\u00e2tirente founds \u00c6quo, Shareholder Engagement Services, with the goal of making these services available to Qu\u00e9bec\u2019s institutional investment community. The two co-founders are counting on the fact that by raising more capital through this practice, \u00c6quo will amplify the impact of shareholder engagement and facilitate the continued growth of responsible investment.<\/p>\n In 2020, B\u00e2tirente unveils its Climate Commitment 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\u2019 climate performance and, lastly, collaborate with its partners on the transition to a low-carbon economy. In 2021, the results of this engagement are positive and encouraging, and the goals are well on their way to being achieved by 2025.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Acknowledging our roots” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_4,1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”3_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”texte Acknowledging our roots” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n During the annual general meeting of October 16, 2020, B\u00e2tirente announces the creation of an honour roll in recognition of the organization\u2019s Builders and highlighting the accomplishments of those who helped B\u00e2tirente successfully fulfil its mission today. L\u00e9opold Beaulieu is inducted there as the very first Builder. As the former CEO of Fondaction and one of the founders of B\u00e2tirente, he left the board after having served non-stop for 33 years.<\/p>\n During its annual general meeting on June 18, 2021, B\u00e2tirente adds two more people to the Builders\u2019 Honour Roll<\/a>: Jacques Allard (inducted posthumously), who served on the board from 1987 to 2001, and Claude Rioux, who was a board member from 1987 to 2004.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.batirente.com\/wp-content\/uploads\/2022\/09\/87A2329_ResWeb.jpg” title_text=”Tableau des B\u00e2tisseurs” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre Transitioning to the future” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte Transitioning to the future” _builder_version=”4.26.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n In 2020, following a long career as treasurer of the CSN, Pierre Patry takes his retirement, thus stepping down as B\u00e2tirente\u2019s chair after 17 years. B\u00e2tirente pays tribute to him in its 2020 Annual Report<\/a>. Yvan Duceppe, elected as CSN\u2019s treasurer in January 2021, is chosen to succeed Pierre Patry in this role at the annual general meeting.<\/p>\n In the fall of 2021, after 25 years as B\u00e2tirente\u2019s CEO, Daniel Simard confirms to the board that he intends to retire as of June 2022. \u00c9ric Filion, Chief Operating Officer since the autumn of 2016, is appointed to take over as CEO. \u00c9ric Filion establishes a management committee composed of Marie-Claude Baker Prud\u2019homme as Director, Finances, Governance and Risks; Vickie Lavoie as Chief Operating Officer; and H\u00e9l\u00e8ne Marcoux as Director, Development.<\/p>\n During its annual general meeting on June 15, 2022, B\u00e2tirente pays tribute to Daniel Simard, who recounts Journey of a passionate activist<\/a> in the 2021 Annual Report<\/a>. He is also inducted into the Builders\u2019 Honour Roll, joining three other individuals who, like himself, were successful in helping the organization achieve its mission.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre B\u00e2tirente in motion” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte B\u00e2tirente in motion” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n It was as a solid, responsible and committed union organization that B\u00e2tirente celebrated its 35th anniversary in 2022. Staying true to its convictions regarding climate, the team planted 35 trees for the occasion to help counter heat islands on the Island of Montr\u00e9al.<\/p>\n At the end of 2022, B\u00e2tirente renewed its long-standing confidence in \u00c6quo, Shareholder Engagement Services, announcing that Fondaction was joining \u04d4quo\u2019s share capital to support the organization in its growth.<\/p>\n Also in 2022, B\u00e2tirente adopted its new strategic plan, with a three-year scope and focus on three main priorities: putting members at the centre of our actions, highlighting B\u00e2tirente\u2019s value to partners in the CSN ecosystem, and supporting the development of talent and practices.<\/p>\n The board resolved to continue encouraging diversity of age, gender and culture. A global parity target was adopted, to be achieved by no later than the 2025 annual general meeting, for positions held by category A and C representatives as well as for external members.<\/p>\n Lastly, during the June 2023 annual general meeting, B\u00e2tirente paid tribute to Pierre Patry, who served as Board Chair for 17 years until 2020. He has been inducted into the Builders\u2019 Honour Roll, joining four other individuals who, like himself, helped ensure the organization\u2019s success in fulfilling its mission.<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider color=”#D6D6D6″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.18.0″ _module_preset=”default” width=”95%” module_alignment=”center” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”titre 2023 : Banner year” _builder_version=”4.27.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”texte 2023 : Banner year” _builder_version=”4.27.3″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n B\u00e2tirente continued its sharp growth in 2023 and reached the billion-dollar assets under management milestone for the first time in its history!\u00a0<\/span>\u00a0<\/span><\/p>\n The Provident Diversified Fund, our members\u2019 most used investment vehicle, showed its strength with returns of 10.0%. Since its creation in 1988, it has generated an annualized yield of 7.9% (1,425% over 36 years).<\/span>\u00a0<\/span><\/p>\n As a responsible investment leader, B\u00e2tirente unveiled its ambitious climate commitment in 2020. After three years of efforts and concrete actions, we proudly announced in autumn 2023 that we had achieved all our objectives for 2025. <\/span>\u00a0<\/p>\n We reduced greenhouse gas emissions attributable to the equity portfolios of B\u00e2tirente Funds by 50% compared with their 2018 carbon footprint. Since 2018, we have tripled our impact investing, from $75M to $225M in 2023.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Founded in 1987, B\u00e2tirente’s retirement system is a unique Qu\u00e9bec institution, whose creation was made possible thanks to the conviction of its pioneering and forward-looking builders. The story behind what would become the retirement system of unionized members of the Conf\u00e9d\u00e9ration des syndicats nationaux (CSN) begins as Qu\u00e9bec is in the throes of an employment crisis. The early 1980s would see the decline of large multinationals in the primary and manufacturing sectors offering workers defined-benefit pension funds. Those multinationals are being replaced by SMEs that lack the means to offer such plans. In 1984, on the eve of its 52nd convention, the CSN conducts a study revealing that 42% of collective agreements contain no clauses dedicated to retirement; and that among the unions that do have access to a supplementary pension plan, 40% of members are dissatisfied, as they consider those benefits insufficient; with barely 30% of the plans being under union control. At this point, a discussion is launched on this important issue\u2014and B\u00e2tirente is born.Mobilizing around retirementThe CSN starts focusing on retirement, and discussions on this are held during its 1984 convention. It\u2019s clear to everyone that solutions need to be found that would give workers access to […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"class_list":["post-704","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nMobilizing around retirement<\/strong><\/h2>\n
Launch of the B\u00e2tirente group RRSP with the signature of a first group annuity contract with SSQ Life in 1987. Left to right: L\u00e9opold Beaulieu and G\u00e9rald Larose, then respectively Treasurer and President of the CSN.<\/h6>\n
First B\u00e2tirente general meeting on the occasion of the 54th CSN Convention in 1988. Left to right: Jacques Allard, L\u00e9opold Beaulieu, Jean-Claude Tremblay from SSQ and Claude Rioux.<\/h6>\n
First board of directors in 1988.<\/h6>\n
Developing the vision<\/strong><\/h2>\n
Corporate origins<\/strong><\/h2>\n
The B\u00e2tirente team in 2005: Martin Blais, group annuity plans advisor; H\u00e9l\u00e8ne Gari\u00e9py, office worker; Henri Jalbert, communications advisor; Pierre Patry, chair of the board; Daniel Simard, general coordinator; Laetitia Tankwe, financial risks analyst; Alain Ayotte, group annuity plans advisor.<\/h6>\n
Fiduciary duty<\/strong><\/h2>\n
Responsible investment and shareholder engagement<\/strong><\/h2>\n
Kofi Annan, then UN Secretary-General, and Daniel Simard at the Principles for Responsible Investment (PRI) launch ceremony held at the New York Stock Exchange in 2006.<\/h6>\n
B\u00e2tirente was one of the instigators of the Qu\u00e9bec Network of PRI Signatories launched at the Colloque qu\u00e9b\u00e9cois sur l\u2019investissement responsable<\/em> held in Montr\u00e9al in 2013.<\/h6>\n
Acknowledging our roots<\/strong><\/h2>\n
Inauguration in 2020 of the Builders\u2019 Honour Roll highlighting the exceptional contributions of individuals who have enabled B\u00e2tirente to successfully carry out its mission today.<\/h6>\n
Transitioning to the future<\/strong><\/h2>\n
B\u00e2tirente in motion<\/strong><\/h2>\n
Banner year<\/strong><\/h2>\n