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A Glimpse of the PPEMO

June 2021
A newsletter for members and beneficiairies of the Pension Plan of Elected Municipal Officers (PPEMO)

A return of 7.4% for the PPEMO fund in 2020

The PPEMO fund generated a return of 7.4% in 2020. The fund is invested with the Caisse de dépôt et placement du Québec (CDPQ), in various portfolios, such as the Public equity portfolio, the Real Estate portfolio, the fixed income assets and the Private equity portfolio. The weight of each of these portfolios is indicated in the PPEMO investment policy, which is established jointly by the PPEMO pension committee and the CDPQ.

The Private equity portfolio offered the best performance in 2020, with a return of 20.7%. The fixed income assets and the Public equity portfolio also did well, with returns of 8.9% and 8.3%, respectively. The pandemic had detrimental effects on the assets of certain sectors of the real estate market, including shopping centres and office buildings. The Real Estate portfolio had a difficult year and generated a return of -15.6%.

Over the past ten years, the PPEMO fund has increased by over $160M, from $156M as at 31 December 2010 to $316M as at 31 December 2020. During this ten-year period, the average annual return of the PPEMO fund was 8.7%, whereas it has been 7.8% over the past five years.

Table 1

Returns for the PPEMO fund from 2011 to 2020

Returns for the PPEMO fund from 2011 to 2020 in percentage 

Table 2

Evolution of the value of the PPEMO fund as at 31 December
(billions of dollars)

Evolution of the value of the PPEMO fund as at 31 December in billions of dollars 

Funding policy

In 2020, the PPEMO funding policy was updated. It is a document adopted by the pension committee which, with the investment policy, defines the parameters that frame the decisions and actions that could have an impact on whether the pension plan's investment goals are met.

The amendments made were to promote the benefit security and the stability of contributions, despite the risks of the economic and demographic contexts.

New actuarial valuation and new contribution rate as of 1 January 2021

In June 2020, the actuaries of Retraite Québec's Direction des régimes de retraite du secteur public submitted a new actuarial valuation of the plan based on data as at 31 December 2018 to the pension committee.

Based on this actuarial valuation, the plan had 1906 active members, 2630 retirees, 444 surviving spouses and 1802 non-active members as at 31 December 2018. The actuarial value of the pension fund was $279.9M and the actuarial value of the benefits acquired on the date of the valuation was $242.1M. Therefore, there was a surplus of over $37M. The PPEMO's financial situation allowed to adjust the level of contributions required to finance the plan.

The PPEMO's contribution rate for municipal representatives decreased from 6.15% to 5.26% retroactively to 1 January 2021.

In addition, the municipalities' contribution decreased from 20.73% to 17.73% of the pensionable salary. This contribution continues to represent 3.37 times the contributions paid by municipal representatives.

Retraite Québec's accelerated digital turn
Improved online services that make the steps you take easier!

Having access to efficient online services is a must, and the current context emphasizes the need to access them easily, at all times, and safely. Retraite Québec has undertaken a major digital turn in order to better meet its clients' expectations regarding online services.

The year 2020 was marked by the addition of several online services, which are accessible to people who participated in or who are participating in a public-sector pension plan, such as the PPEMO. In this regard, 2021 will be no exception!

The following is a brief overview of the recent improvements made and the changes coming in 2021!

You can now go 100% digital!

  • You can consult your documents and your letters at the same place, whenever it is convenient for you. For example, you can now find your Statements of Participation, your Notices of Receipt, Acceptance or Refusal of an application, your income tax slips and your Statements of Deposits in My Account;
  • Sign up for the digital option now to receive your documents in My Account only and to sign up for notifications by email and/or text message, which will inform you quickly of any changes made to your file. For example, when a document is uploaded to your file or, eventually, for a follow-up on an application that you filed with Retraite Québec;
  • See your personalized pension estimates and make your calculations for retirement;
  • Find out the amounts of benefits that you will receive as well as the date of your next payment.

Other changes to come!

  • Consult the status of your application for a pension estimate under a public-sector pension plan or for a retirement pension under a public-sector pension plan and receive notifications as it progresses. With this new service, you will find answers to your questions whenever it is convenient for you!
  • More and more information, documents and follow-ups regarding the status of your applications will be available and continuous improvements are scheduled, such as a new way to show information as well as a modernized navigation interface available from any mobile device.

To keep abreast of the newest changes in My Account, visit the Retraite Québec website, sign up for our newsletter and follow us on our social media platforms!

Members of the PPEMO pension committee

Mr. Paul Préseault

President of the pension committee

Mr. Frédéric AllardMinistère des Affaires municipales et de l'Habitation
Ms. Déborah BélangerPlan beneficiary, Former Mayor of Rivière-Rouge
Mr. Marc-Alexandre BrousseauVille de Thetford Mines, mayor
Ms. Isabelle GarneauSecrétariat du Conseil du trésor
Mr. Yannik NouryMinistère des Affaires municipales et de l'Habitation
Mr. Jean PerronVille de Fossambault-sur-le-Lac, mayor

Contact us


By telephone:
Québec region: 418 643-4881
Toll-free: 1 800 463-5533

By mail:
Retraite Québec
Régimes de retraite du secteur public
Case postale 5500, succursale Terminus
Québec (Québec)  G1K 0G9