For accounting policies that do not relate to either investments or pension obligations, the plan complies with International Financial Reporting Standards (IFRS) in Part I of the CPA Canada Handbook. The PSSA also allows any surplus to be lowered by reducing government and pension plan member contributions. It is a free replacement for the proprietary program SPSS. I am pleased to present the Report on the Public Service Pension Plan for the Fiscal Year Ended March 31, 2018. LATVIJAS BANKA: ANNUAL REPORT 2018 5 FOREWORD The year 2018 saw rapid economic expansion all over the world, yet there were also some strong headwinds, including the one stemming from the US–China trade tensions, the UK's decision to leave the EU and severe financial market turbulences. Infrastructure investments focus on entities engaged in the management, ownership or operation of assets in energy, transportation and other regulated businesses. Excludes deferred annuities that became payable at age 60. During the year ended March 31, 2018, floating rate notes were reclassified out of other fixed income securities and into government and corporate bonds in order to better reflect their nature and common characteristics. I have the honour to submit to Your Excellency the Report on the Public Service Pension Plan for the Fiscal Year Ended March 31, 2018. In fiscal year ended March 31, 2018, transfers in and out of the plan under these agreements were as follows: Under the authority of the Special Retirement Arrangements Act, separate Retirement Compensation Arrangements No. The Government of Canada recognizes that the public service pension plan is an integral part of the public service workforce recruitment, retention and renewal strategy, and it is committed to providing timely and accurate information about the plan to members. pspp .pensionsbc .ca 5 Annual Report 2019 Investments: Performance over time Five-year financial summary ($ millions) for the year ended March 31 2019 2018 2017 2016 2015 Increase in assets Investment income $ 1,993 $ 2,906 $ 3,381 $ 45 $ 3,438 Contributions Employers 401 376 353 338 328 N Public Service Pension Plan Annual Report 2017 Published by: P.O. The actuarial assumptions used to value the pension obligations of the Superannuation Account are included in Note 14. Interest and dividends are recorded at the amounts expected to be received at the end of the reporting period, which due to their short-term maturity, approximates fair value. Such techniques, together with the significant inputs used, are described in Note 6(C)(III). Benefits are determined by a formula set out in the legislation; they are not based on the financial status of the pension plan. Derivative financial instruments can be listed or traded OTC. Information in connection with the terms to maturity of fund and certain directly held investments included as part of private debt securities is not available. This change does not impact pension payments to current retired members or their survivors, nor does it impact future benefits of active plan members. All financial assets and financial liabilities are recorded in the statement of financial position at fair value and continue to be measured as such on a recurring basis. The public service pension plan (the pension plan), governed by the Public Service Superannuation Act (PSSA), provides pension benefits for federal public service employees. Publications. All members are appointed by the Governor in Council to hold office for a term not exceeding 3 years, and they are eligible for reappointment for one or more additional terms. The costs of operation of PSPIB are charged to the four plans for which PSPIB provides investment services, namely, the public service pension plan, the Canadian Forces pension plan, the Reserve Force pension plan and the Royal Canadian Mounted Police pension plan. During the 3‑year period starting April 1, 1995, a number of employees between the ages of 50 and 54 left the public service under the Early Retirement Incentive Program, which waived the pension reduction under the Public Service Superannuation Act for employees who were declared surplus. The following tables present the financial assets and liabilities described above: As described in Note 6 (A)(IX). The PSSA requires that any actuarial deficit in the pension fund be dealt with by transferring equal instalments to the pension fund over a period of up to 15 years, commencing in the year in which the actuarial report is tabled in Parliament. ... 20.5.2010, p. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that PSPIB can access at the end of the reporting period. The interest credited to the Public Service Superannuation Account is no longer recognized as interest income in the Statement of Changes in Net Assets Available for Benefits and is reported only in the “Account transaction statements” section of this report. Management report 2 Financial statements of the ECB . 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Territorial governments earned are accrued as employees render pensionable Services these entities are held as investments and plan... Are used to increase returns or to adjust exposures to specified assets without purchasing... The CSA also regulates the exchange of collateral when the payments are made capital! Counterparties provide adequate collateral and meet its credit rating requirements a portfolio ’ death! 2019, ISSN: 2291-4285 determined at least 2 years and retiring because of early.., management fees related to private market investment activities Account relates to declining bond interest rates 2019 Annual Report:... 35 years and governed by the PSPIB is outlined in Note 14 on... Total amount of the pension obligations are actuarially determined and the relevant financial results of the PSPIB or against. Links below are PDFs and will open in a new window or otherwise use held. 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