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Member paper: A Comparative Analysis of PfAD Design

Author: Chun-Ming (George) Ma

Publication date: 09-03-2021

Version: Current

Language available: English only

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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.

 

Categories: Research

Topics: Pensions

Pages: 15

Format: PDF

Accession no.: rp221025