In Canada, pension promises made to employees by employers are not guaranteed by insurance contracts. What happens when an employer goes out of business and a pension plan becomes wound up? Scenarios like this often run the risk that the assets set aside to deliver the promised pensions may not be sufficient. The question begs: Is there is a better approach to addressing underfunded pension plans...
The Canadian Institute of Actuaries (CIA) is proud to share its updated corporate language, refreshed to better represent the evolving focus of the Institute on important topics such as education, risk management, and diversity and inclusion. Like all professions, the actuarial profession is evolving and responding to unprecedented changes in our society and economy, and our language should...
A number of well-known factors – such as obesity and socio-economic status – can have an impact on longevity. But education levels can also have a surprisingly significant effect on life expectancy. Rob Brown, FCIA, joins the Seeing Beyond Risk podcast to discuss his recent paper’s findings.
The winter 2020-21 data release of the Actuaries Climate Index (ACI), which provides objective measures of specific and aggregate changes in climate extremes and sea level across Canada and the U.S., shows a second consecutive small decline in the index’s five-year moving average and now sits at 1.19 points above the ACI reference period.
More and more pension plan participants are entering the decumulation phase of their lives, with a significant proportion of their retirement assets in a DC plan or savings plan such as an RRSP. Is there a way they can continue to reap the benefits of pooling assets for this second phase of their financial life? Some DC plan sponsors are currently addressing the issue and considering adopting...
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