Insight statements
CIA insight statements provide proactive actuarial insight on topics within existing actuarial standards of practice, guidance, research and public statements. These statements aim to highlight important actuarial issues and contribute to forward-looking and informed public and private decision-making. Statements are authored by CIA members and subject-matter experts and approved by the CIA’s Public Affairs Council.
Helping Canadians Prepare for the Risks of Retirement
Released: February 2025
More than half of Canadians lack a comprehensive retirement plan, leaving many at risk of financial insecurity in their later years.
Helping Canadians Prepare for the Risks of Retirement explores key strategies for building financial resilience, including emergency fund planning, maximizing government benefits, protecting against health-related costs and developing sustainable retirement income. This statement equips financial professionals and individuals with practical tools to navigate the complexities of retirement planning.
An accompanying fact sheet, Planning for a Secure Retirement, provides simple steps and key considerations to help individuals take control of their financial future.
The Evolution of Employer-Sponsored Long-Term Disability Plans
Released: October 2024
As Canada’s workforce continues to age, long-term disability (LTD) plans require adaptation to remain relevant.
Authored by Joe Nunes, FCIA, and Mathias Link, The Evolution of Employer-Sponsored Long-Term Disability Plans examines the challenges of extending LTD benefits beyond age 65. It discusses key legal developments, the role of age-based distinctions in coverage and how to design sustainable, inclusive plans for an aging workforce.
Education and Longevity
Released: March 2024
Research consistently shows a strong link between educational attainment and life expectancy.
Education and Longevity, authored by Shantel Aris (ACIA), Peter Gorham (FCIA) and Jie (Jessica) Ji (FCIA), elaborates on this link, emphasizing that higher educational attainment not only extends lifespans but also fosters improved health outcomes. Building on FCIA Robert Brown’s Driving Longevity through Educational Attainment – A Literature Review, the statement explores the education effect, health-adjusted life expectancy and more.
Longevity of Condo Infrastructure
Released: April 2023
Condo ownership in Canada comes with significant risks, particularly regarding the longevity of building infrastructure. Proper maintenance of common property, having adequate reserve funds and educating stakeholders on key topics such as insurance, legislation and finance are essential to safeguard these assets.
Longevity of Condo Infrastructure offers recommendations to help Canadians limit these risks and make informed decisions to protect the long-term value of condo infrastructure, authored by Henry Chio (FCIA), Jean-Sébastien Côté (FCIA), and John Nguyen. This statement builds on the 2022 research paper Longevity of Infrastructure – Reserving and Risk Management in Condominium Maintenance in Canada.
Protecting Pensioners of Traditional Defined Benefit Plans
Released: September 2021
When an employer goes out of business and a pension plan becomes wound up, there is a risk that the assets set aside for the promised pensions may be insufficient. Such an oversight could negatively affect plan members, particularly retirees who cannot replace lost retirement income.
In Protecting Pensioners of Traditional Defined Benefit Plans: A New Approach to Solvency Funding and Benefit Reductions on Plan Wind-up, FCIAs Serge Charbonneau and Joe Nunes explore the issue of underfunded pension plans and propose new approaches to mitigate risks for retirees.
Modelling the Future of COVID-19 in Ontario
Released: August 2021
To better predict future pandemic outcomes in Ontario, the research paper The Future of COVID-19 in Ontario: Variants, Vaccines, and Avoiding Future Waves modelled different scenarios, including new variants, vaccines, seasonality and government interventions.
Modelling the Future of COVID-19 in Ontario, an insight statement based on this research paper, outlines the key findings; chiefly, that full vaccination rates nearing 90% of the population would be required to prevent a fourth wave of COVID-19, with public willingness to vaccinate being critical.
