Alberta’s Public Service Pension Plan has reported an expected funded ratio of 89 per cent at December 31, 2015, an increase of five percentage points since December 31, 2014.
Its funding extrapolation results, published Thursday, also showed the plan’s deficit had decreased to $1.28 billion, down from $1.73 billion at the end of 2014.
Although an actuarial valuation was not required for 2015, the pension’s board said it completed the funding extrapolation to support ongoing oversight of the plan.
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“The funding extrapolation is based on actual asset values as at December 31, 2015, but uses membership data from the 2014 valuation,” said the board. “No adjustments were made to the data to account for demographic changes, however, general trends were looked at to make sure no anomalies surfaced in 2015.”
The PSPP has nearly 80,000 plan members and pensioners.
Its last actuarial valuation was completed as at December 31, 2014. The next valuation must be filed no later than as at December 31, 2017.
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