Independent peer reviews
To ensure we provide sound actuarial advice to Parliament and Canadians, we commission independent peer reviews of our actuarial reports on the Canada Pension Plan. Reviewers are Fellows of the Canadian Institute of Actuaries, or are members of other, equivalent actuarial associations.
These peer reviews verify that we’re meeting high professional standards with our reports, and that they’re based on reasonable assumptions.
|Review of the 31st Actuarial Report on the Canada Pension Plan
|Opinion of the United Kingdom Government Actuary's Department (GAD) on 31st CPP Report Peer Review
Summary of the review process
The United Kingdom Government Actuary’s Department helps us verify our independent peer reviews of our actuarial report on the Canada Pension Plan. The Actuary’s Department:
- ranks peer review applicants based on their qualifications to help us select reviewers
- provides an opinion on the reviewers’ work once they’ve completed the review
The peer reviewers have 3 months to perform the review once we table actuarial report in the House of Commons. Once they’ve completed their review, the Actuary’s Department has 1 month to provide an opinion on the reviewers’ work.
Following the completion of the review and the opinion of the Actuary’s Department, we publish the review publicly.
Terms of reference for the review process
In their reports, the reviewers should include opinions on these questions and provide recommendations:
- Is the professional experience of the Chief Actuary and the staff who worked on the report adequate for carrying out the work required?
- Did the Chief Actuary complete the work in compliance with the relevant professional standards of practice and statutory requirements?
- Did the Chief Actuary have access to the information required to perform the valuation? Were relevant tests and analysis on the data completed as might be expected?
- Were the actuarial methods and assumptions used in completing the report reasonable?
- Does the actuarial report communicate the results of the work performed by the Chief Actuary and their staff?
Be a part of the next independent peer review
If you’re an independent actuary with Canadian and international experience, you can submit a Peer Reviewer Application when the next report is available for review.