Funding & Investment Publications

PSPP Annual Report and Financial Statements

Each year, PSPP publishes an annual report detailing the previous year's financial operations. The annual report includes financial statements, updates on Plan performance and investments, and a summary of operations.

The financial statements provide different information and results than actuarial valuations because they use different assumptions. Financial statements report the market value of the Plan's assets and liabilities, whereas actuarial valuations use a smoothed value of the Plan's assets and include a margin in the calculation of liabilities.

PSPP Funding Policy Statement

The PSPP Sponsor Board is responsible for establishing the funding principles for the Plan. The Funding Policy Statement provides a framework to ensure that sufficient assets are accumulated to meet the cost of accrued benefits and guide decisions about the funding of the Plan. The Funding Policy Statement also establishes the frequency of actuarial valuations of the Plan and documents funding controls and risks to the Plan’s financial health. The Sponsor Board reviews the Funding Policy annually.

Actuarial Valuation

By legislation, an actuarial valuation must be conducted at least once every three years and filed with the Canada Revenue Agency. However, PSPP Corporation conducts actuarial valuations more frequently to continually monitor the financial health of the Plan.

PSPP Statement of Investment Policies & Procedures

PSPP Corporation, as trustee and administrator of the Plan, sets the policies and procedures for the investment of the Plan assets in the Statement of Investment Policies & Procedures (SIPP). The SIPP sets out the target asset mix for the Plan and is reviewed regularly to ensure it remains appropriate and compliant with the requirements of the Employment Pension Plans Act.

AIMCo invests and manages the assets of PSPP. AIMCo must invest and manage the Plan's assets in accordance with the SIPP.

Responsible Investment Policy

PSPP Corporation has established a standalone Responsible Investment (RI) Policy to govern the integration of Environmental, Social and Governance (ESG) factors within investment decision making processes.

PSPP Quarterly Investment Performance

PSPP invests in a variety of stocks, bonds and investment products. Alberta Investment Management Corporation (AIMCo) is responsible for managing the Plan's investments. Quarterly reports provide investment performance updates on an ongoing basis.