Office of the Superintendent of Financial Institutions
Presentation by Jean-Claude Ménard, Chief Actuary, at the Financial Management Institute on the topic of "Funding Actuarial Valuations of Public Sector Pension Plans"
For the Public Sector Pension Plans, the Office of the Chief Actuary is responsible for setting assumptions for actuarial reports for funding purposes that are tabled before Parliament and determine the current service cost of the plans. By 2017, this cost will be equally shared by the government and contributors for the federal public servants and members of Parliament.
Presentation by Jean-Claude Ménard, Chief Actuary, at the ISSA International Research Conference on the topic of "Pillar integration, basic protection and replacement rates in four modern multi pillar pension systems – case of Canada"
"In Canada the first two pillars are successful in providing basic retirement protection. The role of the third pillar is to provide adequate retirement income and diversify the sources of retirement income."
Presentation by Jean-Claude Ménard, Chief Actuary, at the Society of Actuaries’ Annual Meeting on the topic of “Living to 100…will the Canada Pension Plan be sustainable?”
"While an increasing number of Canadians are reaching the age of 100, Canadians, on average, are not expected to live that long. The most recent CPP Actuarial Report cautions that if life expectancies continue to increase at the current rate, especially for ages 75 to 89, it could put additional pressure on the minimum contribution rate causing the rate to increase above 9.9%."
Remarks by the Chief Actuary of Canada, Jean-Claude Ménard, to the House of Commons Standing Committee on Public Accounts
Presentation by Assia Billig, Actuary, at the 30th International Congress of Actuaries on the topic of "Why actuaries are interested in demographic issues and why others should listen to them", 31 March 2014, Washington, USA.
“The actuarial profession possesses a profound understanding of demographic risks in the modern world and their implications on the most vulnerable: the old, the sick, the disabled, the unemployed or the one who suffers the loss of a family member.”
Presentation by Jean-Claude Ménard, Chief Actuary, to the Board of Directors of the Canada Pension Plan Investment Board on the topic of "Actuarial Report on the Canada Pension Plan as at 31 December 2012", 12 February 2014.
"With the legislated contribution rate of 9.9%, contributions are more than sufficient to cover expenditures over the period 2013 to 2022."
Presentation by Jean-Claude Ménard, Chief Actuary, at the Society of Actuaries' Living to 100 International Symposium on the topic of “Mortality Projections of Public Pension Plans in Canada and its financial implications”, 10 January 2014, Orlando, FL, USA.
“Over the next half century, Canadian life expectancy at age 65 is projected to increase by 3 years to reach 25 years. It means that half of Canadian retirees are expected to live past age 90.”