Funding Policy

The PSPP Sponsor Board has established a funding policy statement that highlights funding objectives and controls, and accounts for key factors relevant to the Plan including the following principles:

Benefit security: Attention to the likelihood of continuing to be well-funded serves to facilitate the ongoing delivery of Plan benefits.

Contribution rate stability: Attention to applying reasonable expectations of funding from contributions and investment returns fosters contribution level certainty.  

Intergenerational equity: Attention to fairness in the sharing of the cost burden of benefit funding preserves equity across contribution cohorts.

The funding policy outlines other key considerations including:

• Plan Overview
• Key Risks Underlying the Plan
• Risk Appetite and Tolerances
• Funding Strategy
• Direction to the Investment Program
• Frequency of Actuarial Valuations

The valuation process is central to decision-making and policy implementation in support of meeting Plan funding objectives.

Funding Policy Statement I Download