Treasury Board of Canada Secretariat issued an RFP for an actuarial consultant to research and develop a funding policy for the C$68.2 billion (US$63.1 billion) Public Service Pension Plan, Montreal.
The pension plan does not have an explicit funding policy document and has relied on Canadian legislation to support plan funding decisions.
The management of the funding policy will be the responsibility of the president of the treasury board, who currently is Tony Clement.
The plan’s investments are managed by PSP Investments, which also manages the C$18.3 billion Canadian Forces Pension Plan, the C$6.7 billion Royal Canadian Mounted Police Pension Plan and the C$465 million Canadian Forces Pension Plan.
“While the focus of the policy will be on the Public Service Pension Plan, it must be flexible enough in its application to be relevant to the other public sector pension plans,” the RFP said.
The RFP is available here. Proposals are due at 2 p.m. EDT Aug. 12.
A selection is expected sometime this fall, said Mike Gosselin, board spokesman.
