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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 […]

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In the fall of 2021, 39-year-old Krista Lehman quit her job as a program assistant at a Vancouver post-secondary institution to take a mental-health break and pursue other career options. When it came to her defined benefit pension plan, her employer’s human resources department provided her with a package that offered her the choice of […]

To celebrate Financial Literacy Month, a consortium of public sector defined benefit pension plan sponsors are releasing an informational video designed to educate their plan members about the risks associated with taking the commuted value out of their pension. The animated video was produced by the British Columbia’s college, municipal and public service, WorkSafeBC, the Colleges of […]

  • By: Staff
  • November 18, 2021 November 18, 2021
  • 10:30
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The Canadian Institute of Actuaries has selected FTSE Russell to represent the provincial and investment-grade corporate bond spread to be used for the CIA’s new market-based commuted-value calculation. The calculation is used to determine how much to pay a member of a registered defined benefit pension who leaves the plan and elects to receive their […]

  • By: Staff
  • September 21, 2020 December 6, 2020
  • 07:58

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 […]