As society’s view on gender identity continues to evolve, so too does the role of gender in shaping the world. A 2023 report by the Canadian Institute of Actuaries examined the impact of gender on actuarial considerations, including longevity risk in pension plans. The CIA’s report followed a 2021 decision by the Superior Court of […]
A group of former municipal police officers who were recruited by the Ontario Provincial Police have launched multi-million-dollar lawsuits against the Ontario Municipal Employees Retirement System and the Ontario Pension Board over alleged losses suffered during their pension transfers. As part of their moves to the OPP from various municipal police forces — including the […]
Variable payment life annuities and the impact of gender identity on actuarial standards are among the issues the Canadian Institute of Actuaries is monitoring in 2025, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. A CIA task force on VPLAs will present its findings early this year, […]
One of the many consequences of the coronavirus pandemic was an unprecedented interest in the life expectancy of Canadians. While the increased focus on life expectancy seemed to wane once the worst of the pandemic had passed, a recent report by the Canadian Institute of Actuaries on mortality improvements has brought the topic of life […]
Interest rate levels are critically important to the financial health of defined benefit pension plans. Many DB plans are in their best financial positions in decades, largely due to the dramatic rise in interest rates over the past few years, but decreases in interest rates could pose a major risk for many plans. Changes in […]
Ontario-based defined benefit pension plans returned, on average, 0.7 per cent on their investments in the second quarter of 2023, according to a new report by the Financial Services Regulatory Authority of Ontario. It found the positive return contributed to a small increase in the median projected solvency ratio, which increased to 116 per cent. […]
The Association of Canadian Pension Management is urging the Ontario government to ensure its proposed rules for multi-employer target-benefit pension plans don’t undermine existing incentives that enable employers to create and maintain workplace pension plans. In an open letter, the ACPM said it believes the provision for adverse deviation will overly restrict the ability of MEPP trustees to manage […]
The Canadian Institute of Actuaries is urging the federal government to reconsider its cessation of real return bond issuances, citing the potential financial impacts to defined benefit pension plans. “We request not only that the decision to cease issuing real return bonds be reconsidered, but also that the annual issuance of real return bonds be […]
Amid the lingering coronavirus pandemic, vaccination policies and paid sick leave were top of mind among Benefits Canada’s readers in 2022. However, stories about new employee benefits and compensation planning, as well as pension and retirement matters, also caught readers’ eyes. Here are Benefits Canada’s 10 most popular stories of the year: 1. Feds consider definition of ‘fully […]
Changes to the calculation of commuted pension values in Canada are making it more challenging for defined benefit pension plan members to determine an optimal day to quit their job and receive the maximum payout, says one actuary. Peter Gorham, an actuary at JDM Actuarial Expert Services Inc., says while he used to point plan […]