The present value of the benefits payable to the members over their lifetime to which they are entitled or will be entitled to under the Plan.

An investment management style that aims to achieve returns above a chosen benchmark or market index. It is the opposite of passive management.

An analysis of the financial condition of a pension plan that calculates the liabilities of the plan and the costs of providing plan benefits. An actuary prepares the valuation and the plan sponsor mu [..]

A business professional who is a fellow of the Canadian Institute of Actuaries (CIA) and is responsible for preparing and signing actuarial valuations.

Plan assets refer to the property of the pension fund, primarily comprised of the fair value of its investments.

The percentage of a portfolio or fund that is invested in each of the main asset types (i.e. short–term investments, fixed income, Canadian equity, international equity and alternatives).

One one-hundredth of a percentage point (0.01 percentage point). For example, if the target for the overnight interest rate is raised from 2.75 % to 3.00 %, it has been increased by 25 basis points.

A standard against which the performance or characteristics of a portfolio or investment is evaluated. The S&P/TSX equity index and the DEX Universe Bond index are widely used Canadian equity and [..]

A quantitative measure of the sensitivity of an equity security or an equity portfolio to changes in its related benchmark index.

A contract between two parties where one party agrees to buy a bond and the other agrees to sell a bond at an agreed future date, but at a price established at the start of the contract.