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Accession #: rp221025

 

Publication Date:
March 09, 2021
Title:
Member paper: A Comparative Analysis of PfAD Design
Other Details:
15 pages
Author:
Chun-Ming (George) Ma, FCIA
Description:
Several Canadian pension jurisdictions have revised their funding regulations for defined benefit pension plans in recent years, aiming to eliminate or ease the solvency funding requirement while strengthening the going-concern funding requirement by adding a provision for adverse deviation (PfAD). There are fundamental differences in the PfAD designs among those jurisdictions.

This paper presents a comparative analysis of three known PfAD design alternatives, with a focus on their effectiveness at stabilizing funding for pension plans under a changing-interest-rate environment.
 

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