Publication archives

IFRS 17 Discount Rates for Life and Health Insurance Contracts – Erratum

Corrections have been made to the version of this educational note published on December 13, 2023. The December 13, 2023 version included an unintended change to the guidance regarding the selection of an interpolation technique when developing reference curves in […]

Considerations in the Determination of the Actuarial Liabilities of Canadian Charitable Gift Annuities

This educational note pertains to the valuation of gift annuities issued by Canadian charities, to establish an appropriate range of practice in the valuation of these gift annuities, taking into account recent changes in actuarial practice for the life insurance […]

Guidance on Events Occurring After the Calculation Date of an Actuarial Opinion for a Pension Plan

This updated educational note is intended to assist pension actuaries in valuing and reporting on events that occur after the calculation date, when the actuary has determined that the event makes the entity different.

Guidance for the 2024 Reporting of Capital, Financial Condition Testing, and Own Risk and Solvency Assessment for Life and Health, P&C and Mortgage Insurers

The Committee on Risk Management and Capital Requirements has prepared this educational note to provide guidance to actuaries in several areas affecting the reporting of the 2024 regulatory capital requirements, financial condition testing (FCT) and own risk and solvency assessment […]

Reliance on the Work of Others in Property and Casualty Insurance Pricing

This educational note discusses range of considerations that practitioners can draw on to justify their use of another person’s work.

Guidance on Asset Valuation Methods

This educational note is intended to assist actuaries in the selection of an appropriate asset valuation method in conjunction with the reporting of a pension plan’s financial position, the determination of a pension plan’s funding requirements and providing advice on […]

Regulatory Capital Filing Certification for Life Insurers

This educational note regarding the certification of regulatory capital filings in Canada references the Standards of Practice and other guidance on the appropriateness of internal models used to determine required capital for segregated fund guarantees, and accounts for the Life […]

Reflecting Increasing Maximum Pensions Under the Income Tax Act in Solvency, Hypothetical Wind-up and Wind-up Valuations

This updated educational note is intended to provide guidance to actuaries with respect to reflecting increasing defined benefit maximum pension limits under the Income Tax Act in solvency, hypothetical wind-up and wind-up valuations.

IFRS 17 Discount Rates for Life and Health Insurance Contracts

The Committee on Life Insurance Financial Reporting (CLIFR) has prepared this educational note to provide guidance related to setting the discount rates for the purpose of calculating the present value of estimates of future cash flows under IFRS 17. This […]

Guidance for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective September 30, 2023, and Applicable to Valuations with Effective Dates on or after September 30, 2023, and no later than June 29, 2024

The PPFRC has conducted its quarter-end review of group annuity pricing conditions as at September 30, 2023, and recommended to the AGC assumptions for hypothetical wind-up and solvency valuations for valuations with effective dates on or after September 30, 2023 […]