Valuation report

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, 2005–2017
Year Per cent
2017 108
2014 101
2011 99
2008 104
2005 100


Read our most recent valuation reports

Actuarial Valuation Report – March 31, 2017 
Posted: December 22, 2017

Actuarial Valuation Report – March 31, 2014 
Posted: January 15, 2015

Actuarial Valuation Report – March 31, 2011 
Posted: December 13, 2011

Three reports are posted online. For archived reports, please contact the Public Service Pension Plan.