Financials

The PEBT provides benefits to its members by managing a pool of funds.

The funding comes from the following sources:

  • The Government of British Columbia
  • Employer benefit contributions from individual school districts
  • Employee benefit contributions from individual members
  • Investment income

Each year, the PEBT reviews its financial position. During this review, it:

  • Evaluates contributions to the Trust and the investment income earned
  • Analyzes past and expected future claims.
  • Determines benefit levels
  • Sets individual contribution rates

Records

The PEBT maintains detailed financial records and an annual audit of their financial statements is completed by a third party Chartered Professional Accountancy firm.

Where possible, the PEBT maintains separate financial records for each benefit (Core LTD, JEIS, health care, dental care, life insurance, etc.). This makes it easier to monitor the cost of each particular benefit. It also makes it easier to allocate related expenses to the applicable benefit for a more complete picture of each benefit’s true cost.

Our Annual Report provides a summary of the PEBT’s financial information. The Annual Report includes the Auditors’ Report to the Trustees, prepared by Ernst & Young, and an Actuaries’ Report prepared by HUB International.