How an aging population can change the world and work for the better.
Eckler Ltd. has launched Club Vita Canada Inc. to build on the work already being done by the Canadian Institute of Actuaries to advance the current state of Canadian pensioner longevity measurement and modelling.
Public sector workers—especially women—live longer than their private sector counterparts, finds a study by the Center for Retirement Research at Boston College.
If you were asked how long you think you’ll live, you’d probably do a quick mental scan of your grandparents, parents, aunts, uncles, and other family members. Will you be like your maternal grandmother, who survived to 102—outliving several of her own children? Or, will you inherit the heart problems that cut your father’s life short?
Aon Hewitt has announced the Canadian launch of a new tool designed to help DB plan sponsors more effectively understand longevity.
Recent mortality research in Canada has considerably extended the time at which virtually all closed-to-new- entrants DB pension plans are projected to end up with their “last man standing.” That has given a sudden boost to pension liabilities and normal costs, depending on which of several mortality tables is chosen (most notably, tables that differentiate between private and public sector workforces). It is readily apparent that more judgment is required in that choice than under the previous commonly used table. Never before have Canadian DB plan sponsors given so much attention to the life expectancy of their plan members.
The Society of Actuaries released updated mortality tables, which show that longevity in the United States is increasing.
The Office of the Superintendent of Financial Institutions (OSFI) has issued a policy advisory to administrators of federally regulated DB pension plans that are considering entering into a longevity insurance or longevity swap contract.
Some people in the United Kingdom will be planning their later life finances on false premises around their assets and longevity.
Canadians have made significant gains in longevity over the past century, and further gains are expected, according to an actuarial study by the Office of the Chief Actuary of Canada.