CPP Valuation Results

An actuarial valuation was completed earlier this year for the defined benefit component of the Combination Pension Plan. The valuation, which covered the three-year period from the beginning of 2019 through the end of 2021, shows that the Plan continues to have a solid foundation for providing financial security to its members.

Actuarial valuations are appraisals of a pension fund's assets and liabilities. A valuation uses investment, economic, and demographic assumptions as well as experiential data to determine the funded status of the pension plan. Full valuations are required by law at a minimum of once every three years.

Actuarial valuations of the Combination Pension Plan are conducted per pension regulations, as well as in respect of the robust funding policy of the Pension Board of Trustees. This includes valuation methodologies and considerations additional to those required by law.

As this valuation was carried out as at December 31, 2021, the results do not factor in the volatility of the market and interest rates over the past year. The Pension Board of Trustees and its consultants will continue to vigilantly monitor market conditions, investment performance and other factors to ensure the Plan is to be well-positioned for financial stability for the future.