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|
* 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.