English: Pensions and Benefits Introduction Discussion and Analysis of Financial Statements Life Insurance Retirement Compensation Arrangement Plan Administration Financial Statements of the Public Service Pension Plan Glossary of Terms for the Financial Statements Account Transaction Statements Statistical Tables Alternate Format(s) InstructionsPDF (231 Kb)RTF (1.59 Mb) Printable Version Report on the Public Service Pension Plan for the Fiscal Year Ended March 31, 2003 Previous Table of Contents Next  Glossary of Terms for the Financial Statements  A Accrued Pension Benefits - the present value of benefits earned by members under the plan for services to date Actuarial Assumptions - estimates made by actuaries of rates of return on plan assets, retirement age, mortality rates, future salary levels, and other factors Actuarial Valuation - provides a "snapshot" of the financial status of a pension plan B Benefits Earned - the cost of benefits for services provided by members during the fiscal year C Contributions Receivable - amount owing to the plan in respect of services provided by members up to the date of the financial statements Currency Risk - the risk that the value of investments purchased in foreign currency will fluctuate due to changes in exchange rates D Defined Benefit Pension Plan - a pension plan that specifies the formula for determining the benefits that the employee will receive at the time of retirement E Excess of actuarial value of net assets over accrued pension benefits - the funded status of the plan; a positive amount indicates that plan net assets exceed accrued pension benefits, while a negative amount means that accrued pension benefits exceed net assets Experience gains and losses - the difference between what has occurred and what was anticipated in the actuarial evaluations F Foreign Currency Exposure - the amount by which the plan's investments are exposed to currency risk M Market-related Value - the value of an investment based on average market values over a number of years; it is used to reduce the impact of large fluctuations in the market value of plan investments N Net Assets Available for Benefits - the cash, receivables, and investments net of liabilities available for pension benefits expected to be paid in the future; for the purposes of this definition, a plan's liabilities do not include accrued pension benefits P Past Service - service provided by members prior to the start of the current fiscal year Public Service Pension Plan Account - an account established by the Public Service Superannuation Act to record transactions relating to service provided by members on or after April 1, 2000; the account is a flow through account used to transfer funds to and from PSP Investments Public Service Superannuation Account - an account established by the Public Service Superannuation Act to record transactions relating to service provided by members before April 1, 2000 R Return or (Rate of Return) - the percentage change in assets in a particular period, resulting from income earned (such as interest, dividends, or rent) plus realized and unrealized capital gains or capital losses S S&P/TSX Composite Index - the most diversified Canadian market index representing almost 90 per cent of the capitalization of Canadian-based companies listed on the TSX; a committee of the Toronto Stock Exchange and Standard and Poor's selects companies for inclusion in the S&P/TSX Composite Index Standard and Poor's 500 Composite Index (S&P 500 Index) - a U.S. index consisting of 500 stocks chosen for market size, liquidity, and industry group representation; it is a market-value-weighted index (stock price times number of shares outstanding), with each stock's weight in the index proportionate to its market value; the Standard and Poor's Company selects stocks for inclusion in the index T Time-weighted Rate of Return - a return calculation methodology that eliminates the impact of cash flows into (or out of) a portfolio; this methodology recognizes the fact that managers have no control over the size and timing of cash flows Transfer Value - a calculated lump-sum value of future pension benefits
French: Pensions et avantages sociaux Introduction Analyse des états financiers Assurance-vie Compte des régimes compensatoires Administration du Régime États financiers du Régime de retraite de la fonction publique Glossaire des termes utilisés pour les états financiers États des opérations des comptes Tableaux statistiques Format(s) de rechange InstructionsPDF (316 Ko)RTF (1.68 Mo) Version imprimable Rapport sur le Régime de retraite de la fonction publique pour l'exercice clos le 31 mars 2003 Précédent Table des matières Suivant  Glossaire des termes utilisés pour les états financiers  A Actif net disponible pour le versement des prestations - liquidités, débiteurs et placements, moins le passif, qui sont disponibles pour payer les prestations devant être versées à l'avenir; pour les besoins de cette définition, le passif d'un régime ne comprend pas les prestations constituées. C Compte de pension de retraite de la fonction publique - compte établi en vertu de la Loi sur la pension de la fonction publique pour consigner les opérations relatives aux services accomplis par les participants avant le 1er avril 2000.