Valuation report

The valuation report of BC's College 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 (a professional with specialized knowledge of finance, statistics and risk theory) assesses the financial health of the College Pension Plan, including the adequacy of employer and employee contribution rates for funding the plan and the long-term sustainability of inflation adjustments.

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 economics and plan demographics, such as interest rates and the life expectancy of members.

Valuations help the College Pension Board of Trustees make decisions about funding the plan. The valuation determines the necessary contribution rate to ensure the plan is healthy and has the funds available to meet the pension promise for all active and retired plan members.

Valuation funding ratio, 2015–2021
Year Per cent COLA* cap
2021 103.2 Cap suspended
2018 106.1 Cap suspended
2015 103.6 2.07

* Cost-of-living adjustment (COLA) is a non-guaranteed increase to your monthly pension payment. COLA is based on the Canadian consumer price index (CPI) and is applied to your pension in January each year if there are sufficient funds in the plan’s inflation adjustment account. COLA is granted at the discretion of the board and may be capped below the annual change in CPI.

Read our most recent valuation reports

Actuarial Valuation Report – August 31, 2021
Posted: June 6, 2022

Actuarial Valuation Report – August 31, 2018
Posted: May 29, 2019

Actuarial Valuation Report – August 31, 2015
Posted: May 31, 2016

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