Actuarial Valuations

The Administrative Board must ensure the Plan is able to meet the pension obligations as they occur and ensure the long-term solvency of the Plan.  A valuation of the Plan is required at least every three years as per The Pension Benefits Act, 1992 (Saskatchewan), and must be filed with the Superintendent of Pensions and Canada Revenue Agency.  The purpose of the valuation is to provide an actuarial estimate of the present vaue of the Plan's liabilities and assets plus determine whether the assets are adequate to meet the obligations or a contribution increase is required.  The Plan's current actuary is Aon Hewitt.