Canada Post Pension Plan 2018 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 0.9 per cent in 2018, and the Plan's net investment assets reached nearly $25 billion.
Later this month, we will send you the Canada Post Pension Plan 2018 Summary Report to Members. It will provide you with full information about the Plan's performance, investments and services to members, as well as an update on the funded status of the Plan. The full report is also available under Publications.
The current estimate of the Plan’s financial position as at December 31, 2018 is a going-concern surplus of $3.3 billion and a solvency deficit to be funded
of $5.7 billion1.
In 2018, active management of the defined benefit component of the Plan added $706 million in value above the benchmark, and over the last 10 years, the Plan has grown $2.6 billion above the benchmark. This increase demonstrates how thoughtfully and successfully the Plan’s assets are invested, and underscore the importance of our investment strategies to the overall health of the Plan.
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 $5.0 billion.