Every three years, the SPP undergoes a financial checkup, otherwise known as an actuarial valuation. An actuarial valuation is underway and will be completed in 2020. The valuation has four main purposes:
- Evaluates the present financial status of the SPP;
- Assesses the ability of the SPP to pay pension benefits over the long term;
- Determines the level of indexing (cost of living adjustment) the SPP can afford to pay; and
- Complies with regulatory requirements for actuarial valuations and filings with pension authorities.
Results of the valuation will be available later this year and will be reported in the SPP Update newsletter at that time. For past valuation results, visit the Actuarial Valuations page.