I’m both honoured and excited to step into the role of CEO and help lead TTC Pension Plan into its next chapter. It’s a privilege to serve you — our members, who are dedicated to keeping our communities moving and connected — and I’m truly grateful for the chance to support you in this role.
My personal connection to the TTC began early. As a teenager, I took the 53 Steeles East bus to Finch Station to travel downtown. Like many of you, the TTC has been a familiar presence in my life for years. So to now be in a role where I can support the people behind the service is incredibly meaningful.
In my first few weeks, I had a memorable moment that really reminded me why this work matters. I was commuting to the gym before work when I crossed paths with a Wheel-Trans operator. I stopped to offer him a coffee, say thanks and chat for a bit. He told me he was 56 and he had 23 years on the job. His wife had just retired and he was starting to think about when it might be his turn. He had some questions for me and we had a great conversation. That conversation reminded me clearly of what this Plan is all about: delivering a pension for life to those who’ve served our communities with dedication and care.
That purpose is more important than ever. We know members have questions — about the future, about the stability of the Plan and about what comes next. This report is all about answering your questions.
Whether you’re currently working or already retired, you should feel confident that your pension is secure. The Plan is fully funded, meaning we’re well-positioned to meet our long-term commitments. TTCPP is a defined benefit pension plan. That means your pension is based on your earnings and years of service — not just how much money is in the Plan. So, unlike some other plans, your pension isn’t directly affected by things that happen in the market, like potential tariffs. And while market volatility is always a factor, our investment strategy is designed to be resilient and adaptable. In the pages that follow, you’ll find more detail on how we’re managing the Plan for long-term strength and stability. Above all, we want to make clear in this report the value of the Plan for you and why you can feel proud and assured to be a member of TTCPP.
Since joining TTCPP, I’ve had the chance to meet every member of our team. What stood out immediately was their shared sense of purpose. Across the board, team members expressed how rewarding it is to help our members understand the pension plan and feel secure in their retirement. That kind of alignment is rare — and I’m filled with pride to be part of this team.
As we look ahead, we’re more committed than ever to finding new and better ways to serve our members. We’re listening carefully — paying attention to what’s working well, where there are gaps and how we can improve. Whether it’s upgrading how we administer the pension plan, simplifying our communications or making it easier to get the information you need, we’re committed to making your experience as clear and accessible as possible.
I want to extend my sincere thanks to James Clarkson who served as Acting CEO before I stepped into the role. His steady leadership, thoughtful guidance and deep commitment to this organization made my transition smooth and welcoming. I’m grateful to continue working alongside James in his role as Chief Financial Officer & Treasurer.
We have a solid foundation, a clear mission and a team that genuinely cares. I’m excited about the future we’re building — together — for all our members. We’re ready for the road ahead — and proud to walk it with you.
Thank you for your continued trust.
Heather Wolfe
Chief Executive Officer