Update to the Mortality Table Used for Pension Plan Commuted Value Calculations

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The Actuarial Standards Board (ASB) for the Canadian Institute of Actuaries (CIA) decided to promulgate the use of the 2014 Canadian Pensioners Mortality Table (CPM2014) combined with mortality improvement scale CPM Improvement Scale B (CPM-B), effective October 1, 2015 for commuted values.  The change is in response to the Report on Canadian Pensioners’ Mortality issued by the Canadian Institute of Actuaries in February 2014, which “clearly establishes the need for a change in the mortality basis and projection scale for pension commuted value calculations.”

This article is designed to inform clients of the change in standards, to provide an overview of the reasons for the change and timelines for compliance.

Please click on the following link to download the PDF of the full article:

Update to the Mortality Table Used for Pension Plan Commuted Value Calculations

 

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