2006 - Central Bank of Trinidad and Tobago

ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSTrintoc Employees’Benefit PlanBacon Woodrow &De Souza89.08710.9100.003September 30,200489.76310.1920.04590.9089.0580.034The valuation revealed a past service surplus of $424. 1 million91.868with a funding93.004level of 148%.It was recommended that:-8.100 6.963(a) The Company continue to contribute to thePlan at the 0.032 minimum rate 0.033 i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.Trintopec StaffPension PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of $453 million with a funding level of 201%.It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.Trintopec EmployeesPension PlanBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of$303.2 million with a funding level of 194%.It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later tnan September 30, 2007.Trintoc ContributoryPension Fund BBacon Woodrow &De SouzaSeptember 30,2004The valuation revealed a past service surplus of $313. 2 million with a funding level of 226%It was recommended that:-(a) The Company continue to contribute to thePlan at the minimum rate i.e. twice members’ordinary contribution.(b) The Trustees review the Plan’s investmentstrategy with the Plan’s Management Committeeand Petrotrin with a view to diversifying the Assetportfolio.The next actuarial valuation must be carried outno later than September 30, 2007.64REPORT ON INSURANCE AND PENSIONS