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Pension Fund Performance for the year ending 31 December 2015

Pensions and Benefits
Pension fund update as of 31 Dec 2015

  • The annual rate of return on the pension fund for calendar 2015 was 6.1%.  This marks seven consecutive years with positive returns, although this is lower than recent years, and below the benchmark target of 6.85%
  • The going concern funded ratio for the pension fund was 101% at 31 Dec 15

There will be a 9.1% increase in premiums for the Extended Health Extra plan.  This increase is generally due to the increase in the cost of some drugs, and is reflected in the costs of the member-funded Extra plan.  The new rate is the first increase after several years of decreases, and is still below the rate in 2012.  The new rate is effective with July pension payments, so will be paid at the end of July 2016.