As global citizens and professionals, actuaries need to give some priority to a climate-sensitive, sustainable future and help enhance collective financial and societal well-being. COP 26 signatories drive political decisions, but the details at implementation level is what will matter for actuaries, so they should be prepared to participate in the formulation of clear, consistent, and...
In the 2020 Retirement Risk Survey, conducted in partnership with Ipsos, the CIA asked Canadians a series of provocative questions about their retirement and long-term planning. The survey focused on how well Canadians understood longevity and life in retirement, and how accurate their expectations are around being disabled in retirement, needing long-term care, and more.
With the pandemic in its fourth wave, the Canadian retirement landscape remains a vulnerable sector. The findings of the Retirement Risk Survey, though concerning, illustrate an undeniable fact that, more than ever, Canadians need support and information about how to manage their retirement and long-term care needs in old age.
Many Canadians underestimate the risks associated with old age illnesses or the likelihood that they will require long-term care in their later years. A significant number also lack understanding of the costs associated with long-term and in-home nursing care. While some Canadians are planning for their long-term care needs, many more are left unprepared and ill-equipped to face the challenges of...
Actuarial interest in COVID-19 is being approached from several angles: the impact on longevity and healthcare costs, the effect on insurance and benefit plans, and the economic disruption that could shape long-term investment returns, pricing, and funding. Yet even with all this to consider, there are still other areas that could benefit from the application of actuarial expertise, such as the...
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