Canada Post Pension Plan 2016 year-end results
A message from Wayne Cheeseman, Chief Financial Officer
The Defined Benefit component of the Canada Post Pension Plan recorded a rate of return of 7.9 per cent in 2016, and the Plan's net investment assets reached $23.1 billion.
Later this month, we will send you the Canada Post Pension Plan 2016 Report to Members. It will provide you with full information about the Plan's performance, investments and services to members, as well as explanations of the actuarial valuation results. It will also be posted under Publications.
The current estimate of the Plan’s financial position as at December 31, 2016 is a going-concern surplus of $1.8 billion and a solvency deficit to be funded
of $6.7 billion1.
The pension fund continues to benefit from prudent investments and responsible administration. We look forward to resolving the long-term challenges it faces and to securing its future for Plan members.
Final year-end results for the Plan will be filed with the Office of the Superintendent of Financial Institutions (OSFI) and the Canada Revenue Agency (CRA), our pension regulators, by the end of June.
1. The solvency deficit when using market value of Plan assets is estimated at $6.5 billion.