EC3 Coverage of Employee Future Benefits
F2007 | F2008 | F2009 | |
|---|---|---|---|
| Percentage of pension plan liabilities funded | 101 | 100 | 90 |
BC Hydro has a defined benefit plan for its employees. Currently, the employer contributes approximately 11 per cent of pensionable earnings and the employee contributes 6.31 per cent of pensionable earnings. The plan is a funded plan with the assets held separately in a trust for the plan members. Assets are valued at their Fair Market Value, while liabilities are actuarially determined using management's best estimates based on Generally Accepted Accounting Principles. This is the only funded pension plan in BC Hydro; there are no pension plans in other jurisdictions.
Fiscal 2007 has been revised slightly from 102 to 101 due to the December 31, 2006 valuation that completed in fiscal 2008.
Last Modified: Mar 25, 2010
