The valuation report of BC's Public Service Pension Plan examines the plan's assets and liabilities, as well as demographic, investment and economic factors that affect the plan. Read the valuation report prepared by the plan's actuary.
Every three years, an independent actuary (professional with specialized training in financial modelling, the laws of probability and risk management) assesses the financial position of the Public Service Pension Plan, including the adequacy of employer and employee contribution rates for funding the plan.
The actuary calculates the plan's actuarial liabilities (cost of paying promised benefits) and compares them to its actuarial assets (plan investments). The actuary also makes projections about plan demographics, such as how long plan members will live and when they will retire.
Valuations help the Public Service Pension Board of Trustees make decisions about funding the plan. The valuation determines the necessary contribution rate to ensure full funding of the basic pension promise.
|Valuation funding ratio, 2002–2014|
Read our most recent valuation reports
Actuarial Valuation Report – March 31, 2014
Posted: January 15, 2015
Actuarial Valuation Report – March 31, 2011
Posted: December 13, 2011
Actuarial Valuation Report – March 31, 2008
Posted: February 05, 2009
Three reports are posted online. For archived reports, please contact the Public Service Pension Plan.