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Exposure Draft – Amendments to Section 3500 of the Practice-Specific Standards for Pension Plans – Pension Commuted Values

The Actuarial Standards Board (ASB) has established a Designated Group (DG) to review the standards of practice for pension commuted values (section 3500), other than the mortality assumption prescribed by section 3500. The mortality assumption prescribed under section 3500 was recently reviewed by another designated group and changes to the mortality assumption became effective on October 1, 2015.

This exposure draft (ED) proposes changes to the practice-specific standards for pension commuted values (section 3500). It was approved for distribution by the ASB on June 30, 2017. Due process has been followed in the development of this ED.

Feedback on all aspects of the proposed changes, as well as suggestions for other changes not presented in this ED, are all encouraged. The DG identified a few specific areas where additional input is being sought.

Interested parties are invited to formally submit their feedback on these proposed revisions by September 18, 2017. Parties wishing to comment on this exposure draft should direct those comments to Gavin Benjamin at gavin.benjamin@towerswatson.com, with a copy to Chris Fievoli at chris.fievoli@cia-ica.ca by September 18, 2017.

Exposure draft (red-lined)

Exposure draft (clean)

Link(s)
See above
Council/Committee
Actuarial Standards Board/Designated Group
Contact with Questions Gavin Benjamin, Chair, Designated Group at gavin.benjamin@towerswatson.com
Announcement Number
2017-07(03834)
July 27, 2017