EC3 Coverage of Employee Future Benefits

BC Hydro has a defined benefit plan for its employees. Currently, the employer contributes approximately 10 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.