Canadian Institute of Actuaries – Benefits Canada.com

CIA calling on financial organizations to include effects of climate change in risk projections

bmcgovern — Thu, 13 Jun 2024 13:00:38 +0000

Unique natural events caused by the effects of climate change need to be considered in a financial organization’s risk analysis, according to a new report by the Canadian Institute of Actuaries. The report examined work and recommendations of the task force on climate-related financial disclosures on climate risk frameworks for the Canadian financial sector. It […]

The post CIA calling on financial organizations to include effects of climate change in risk projections appeared first on Benefits Canada.com.

Top 5 HR, benefits and pension stories of the week

bwolfe — Fri, 24 Jun 2022 13:00:45 +0000

An article on Stelco Inc.’s $1.3 billion annuity buy-in for one of its defined benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Stelco entering $1.3BN annuity buy-in for DB pension 2. KPMG allowing employees to work remotely from another province, country […]

The post Top 5 HR, benefits and pension stories of the week appeared first on Benefits Canada.com.

No need for separate OSFI culture risk management guideline, says CIA

bwolfe — Wed, 22 Jun 2022 13:00:02 +0000

Culture risk management can be enhanced within existing risk management frameworks, says the Canadian Institute of Actuaries, adding it doesn’t see a need for a separate guideline from the Office of the Superintendent of Financial Institutions. In an open letter responding to the OSFI’s consultation, the CIA said it wants a better understanding of any […]

The post No need for separate OSFI culture risk management guideline, says CIA appeared first on Benefits Canada.com.

Chief actuary seeking external panel for CPP review

bwolfe — Fri, 20 May 2022 13:00:31 +0000

The office of the chief actuary is seeking an external peer review panel for its next actuarial report on the Canada Pension Plan. The external peer review is intended to ensure the report — to be released in December 2022 — meets high professional standards and is based on reasonable methods and assumptions, according to […]

The post Chief actuary seeking external panel for CPP review appeared first on Benefits Canada.com.

New paper calls for linking DB pension solvency minimums to plan member age

Gideon Scanlon — Tue, 28 Sep 2021 14:15:30 +0000

A new white paper published by the Canadian Institute of Actuaries is proposing new rules during defined benefit plan windups, requiring higher solvency ratios for members who are retired and lower ones for those at earlier stages in their careers. “This paper suggests that retiree pensions would be better protected if the solvency funding regime framework […]

The post New paper calls for linking DB pension solvency minimums to plan member age appeared first on Benefits Canada.com.

CAPSA developing multi-jurisdictional VPLA framework for DC pension plans

bwolfe — Wed, 04 Aug 2021 13:00:25 +0000

The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the framework, the CAPSA said it will address topics such as plan design and conversion options, as well as member disclosure, spousal consent, plan termination, investment rules and regulatory oversight for […]

The post CAPSA developing multi-jurisdictional VPLA framework for DC pension plans appeared first on Benefits Canada.com.

Michel St-Germain reflects on 45 years in pension industry, challenges ahead

mschmit — Tue, 17 Nov 2020 06:35:45 +0000

As Canada’s pension landscape has evolved over the past 45 years, Michel St-Germain has been helping plan sponsors navigate it all. St-Germain, who is currently president of the Canadian Institute of Actuaries, retired as a partner from Mercer in June 2020 after first joining the organization on Jan. 1, 1975. When looking back at his […]

The post Michel St-Germain reflects on 45 years in pension industry, challenges ahead appeared first on Benefits Canada.com.

CIA selects FTSE Russell to represent Canada bond market for commuted-value calculations

mschmit — Mon, 21 Sep 2020 03:58:37 +0000

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 […]

The post CIA selects FTSE Russell to represent Canada bond market for commuted-value calculations appeared first on Benefits Canada.com.

Task Force Aims to Harmonize Actuarial Practice in Canada

mschmit — Thu, 11 Jan 2018 06:17:07 +0000

Plan sponsors to consider new mortality improvement scale.

The post Task Force Aims to Harmonize Actuarial Practice in Canada appeared first on Benefits Canada.com.