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Accession #: 221086

 

Publication Date:
July 26, 2021
Title:
Educational Note Supplement: Guidance for Assumptions for Hypothetical Wind-Up and Solvency Valuations Update – Effective June 30, 2021, and Applicable to Valuations with Effective Dates on or after June 30, 2021, and no later than December 30, 2021
Other Details:
4 pages.
Author:
Actuarial Guidance Council
Description:
Balancing the need for rapid publication of guidance and completeness in documenting its development, effective June 30, 2021, the process for releasing guidance regarding assumptions for hypothetical wind-up and solvency valuations is changing as follows:

• A quarterly educational note supplement, approved by the Actuarial Guidance Council (AGC) for immediate use, will be released shortly after the PPFRC has made its recommendation. The quarterly educational note supplement will replace the preliminary communications and updates preliminary communications issued in previous quarters.
• For quarterly guidance relating to periods March 31 to December 30, June 30 to December 30, and September 30 to December 30, an explanatory report providing supporting material will be issued after the quarterly educational note supplement. The explanatory report will replace the document issued as an educational note supplement in previous quarters.
• For annual (calendar year) guidance, an educational note providing supporting material will be issued after the educational note supplement.

The PPFRC has conducted its quarter-end review of group annuity pricing conditions as at June 30, 2021, and recommended to the AGC assumptions for hypothetical wind-up and solvency valuations for valuations with effective dates on or after June 30, 2021 (but no later than December 30, 2021).

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