Montréal, March 21, 2020 – During this difficult period, we want to remain in touch with you and reassure you on the actions taken by Bâtirente. The situation is evolving rapidly and we are taking all the necessary measures to act responsibly, to ensure the continuity of the management of your retirement and your savings while taking care of the safety of our staff.
More than ever, our team is mobilized to provide the necessary support to our members, whether they are still active or retired. More specifically:
- All Bâtirente advisors are now working from home. They are available at all times to speak to group representatives, to respond to members who have concerns and to make the necessary interventions;
- In order to analyze the impacts of the effects of the sharp drop in stock prices on the composition and performance of our funds, our team of investment experts follows the evolution of the markets on a continuous basis. As well, our team is in constant contact with our investment managers to make sure that appropriate actions are being taken;
- Our investment and extrafinancial risks committee has met to diagnose the situation and to assure the resilience of our funds in this very volatile market.
We are aware that markets are experiencing significant turmoil, mainly due to the multiplication of the number of coronavirus cases in developed countries and the severe measures that are deployed to contain this sanitary crisis. We are also witnessing the price war between oil producing countries which was triggered by the breakdown of negotiations between OPEC member countries and Russia.
In order to support businesses and families, reduce the economic impacts, and appease the financial markets, central banks and governments all over the world have began to implement an arsenal of fiscal and monetary measures. For example, the US Federal Reserve and the Bank of Canada lowered their key interest rates by 0.5%. As well, the Canadian and American governments announced their intentions to rapidly reduce personal taxes and introduce other direct support measures for businesses and individuals in the short term.
As a responsible organization, Bâtirente is taking all the necessary precautions to reduce the risks of contamination. Therefore, we asked our employees to work from home and to adopt the virtual format for all meetings, reunions or assemblies since our technological infrastructure and working methods allow it.
In the coming weeks, we will all be confronted with the uncertainties that lie ahead. Please be assured that the Bâtirente team will remain available during this period and can be reached either by email or by phone through the usual processes.
MEMBER SERVICES CENTRE
Business hours: Monday to Friday, 8 a.m. to 8 p.m.
Phone: 1 800 463-6984
Fax: 1 877 350-8555
Email: batirente@dsf.ca