Chair – Harpinder Sandhu
Newly announced: Following the latest actuarial valuation, the Public Service Pension Plan is fully funded, therefore there will be no contribution increase. The main reasons for the improvement is due to investment returns higher than assumed, and actual salary increases were lower than the long-term assumptions which were offset by changes in demographic assumptions.
Board Trustee Activity
As a newly elected Public Service Pension Plan Board Trustee, I attended an orientation session in Victoria on February 24th, 2015. The introduction provided a vast collection of reading material to help become familiarized with the new role, presentation by the pension board secretariat, and review of the current activities of the Pension Corporation. The Pension Corporation provided a tour of the offices and a brief meeting with employees in key positions providing insight to the daily activities of the corporation in administering the plan for members.
I officially begin my 3 year term as Board Trustee on April 1st, 2015. Again I thank my local for fully supporting my successful candidacy, without this support I could not have attained such an important position ensuring the progress of our pension plan.