actuarial valuation – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 26 Apr 2024 20:02:31 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Climate change, pension super-priority law among CIA’s priorities for 2024 https://www.benefitscanada.com/pensions/governance-law/climate-change-pension-super-priority-law-among-cias-priorities-for-2024/ Thu, 25 Jan 2024 14:00:16 +0000 https://www.benefitscanada.com/?p=151103 The impacts of climate change and federal super-priority legislation on Canadian pension plans are among the issues that the Canadian Institute of Actuaries is monitoring in 2024, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. While climate change is a consideration across all of the CIA’s practice […]

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]]> Alaska considering return to DB pension model in public sector https://www.benefitscanada.com/pensions/defined-benefit-pensions/alaska-considering-return-to-db-pension-model-in-public-sector/ Thu, 16 Mar 2023 16:00:03 +0000 https://www.benefitscanada.com/?p=135367 To bolster Alaska’s public sector, a bipartisan effort is underway to relaunch the state’s pensions as defined benefit plans. “I’m carrying this bill on behalf of thousands of state employees who have worked for more than a decade to refine it,” said Cathy Giessel, leader of the state senate’s Republican majority during her introduction of […]

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]]> Amendments to bankruptcy, insolvency legislation could disincentivize DB pension plan sponsors, say ACPM, PIAC https://www.benefitscanada.com/pensions/governance-law/amendments-to-bankruptcy-insolvency-legislation-could-disincentivize-db-pension-plan-sponsors-say-acpm-piac/ Thu, 29 Sep 2022 13:00:21 +0000 https://www.benefitscanada.com/?p=127638 The Association of Canadian Pension Management and the Pension Investment Association of Canada are among the organizations saying proposed amendments to the federal Bankruptcy and Insolvency Act could negatively impact defined benefit pension plans. In an open letter to the House of Commons standing committee on finance, the ACPM and the PIAC — along with […]

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]]> New Brunswick PSPP announces 5.24% COLA, 0.32% below CPI https://www.benefitscanada.com/pensions/defined-benefit-pensions/nbpspp-announces-5-24-cola-0-32-below-cpi/ Thu, 08 Sep 2022 17:00:38 +0000 https://www.benefitscanada.com/?p=126505 Members of the New Brunswick Public Service Pension Plan are receiving a cost-of-living adjustment that doesn’t cover increases in the cost of living in Canada. According to a press release, the $6.6 billion hybrid pension plan’s board of trustees voted to award its 40,000 members with a 5.24 per cent COLA, set to begin on […]

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]]> Newfoundland and Labrador granting MEPPs permanent solvency funding exemption https://www.benefitscanada.com/pensions/governance-law/newfoundland-and-labrador-granting-mepps-permanent-solvency-funding-exemption/ Thu, 12 Aug 2021 13:00:13 +0000 https://www.benefitscanada.com/?p=105572 The government of Newfoundland and Labrador is amending funding rules for the province’s multi-employer pension plans. The amendments include a permanent exemption from solvency funding requirements for MEPPs, retroactive to Dec. 31, 2020, when the previous temporary exemption ended. In addition, going-concern unfunded liabilities must now be funded over 10 years instead of the previous […]

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]]> CIA updating guidance for pension windup, solvency valuations https://www.benefitscanada.com/pensions/governance-law/cia-updating-guidance-for-pension-windup-solvency-valuations/ Thu, 05 Aug 2021 13:00:41 +0000 https://www.benefitscanada.com/?p=105091 The Canadian Institute of Actuaries is updating its process for releasing guidance regarding assumptions for hypothetical pension windup and solvency valuations. For quarterly guidance relating to periods from March 31 to Dec. 30, June 30 to Dec. 30 and Sept. 30 to Dec. 30, an explanatory report providing supporting material will be issued after the […]

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]]> Are pension funds considering filing early valuations to lock in pre-coronavirus funded ratios? https://www.benefitscanada.com/canadian-investment-review/db-investments/should-pension-funds-consider-filing-early-valuations-to-lock-in-pre-corona-funded-ratios/ https://www.benefitscanada.com/canadian-investment-review/db-investments/should-pension-funds-consider-filing-early-valuations-to-lock-in-pre-corona-funded-ratios/#respond Mon, 13 Apr 2020 08:39:00 +0000 https://cumulus.benefitscanada.com/uncategorized/should-pension-funds-consider-filing-early-valuations-to-lock-in-pre-corona-funded-ratios/ With coronavirus causing market volatility and an increase in the size of solvency liabilities, pension plans are feeling the impact. One potential way for plan sponsors to ease the pain is by performing an early actuarial valuation to capture year-end 2019 numbers. Most Canadian jurisdictions require plans to file valuations every three years, however a […]

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