2016 Actuarial Valuation Report Now Available

The Special Forces Pension Board is pleased to report it has approved the December 31, 2016 actuarial funding valuation of the Special Forces Pension Plan and has instructed its Administrator to file the valuation with the Canadian Revenue Agency.

The valuation shows an improved funded status of 89%, compared to the 2013 result of 80%.

Based on the results of the valuation, the Board has elected to keep 2018 contribution rates unchanged from 2017, as shown below.

SFPP Contribution Rates (2017 and 2018)
2017 2018
Members' Contribution Rate* 13.45% 13.45%
Employers' Contribution Rate* 14.55% 14.55%
SUB-TOTAL: 28.00% 28.00%
Government of Alberta (for pre-1992 unfunded liability) 1.25% 1.25%
TOTAL: 29.25% 29.25%
*Includes 0.75% for the pre-1992 unfunded liability.

These rates include contributions to fund COLA (cost of living adjustments) at 60% of Alberta CPI (consumer price index) for pre-2001 service and at 30% of Alberta CPI for post-2000 service.

The full 2016 Actuarial Funding Valuation Report can be found here.

The Board is encouraged by the Plan's improved position. We will continue to manage risks going forward while focusing on building Plan resiliency to withstand adverse impacts.

Sincerely,

Dwayne Smith
Chair