Publications
 

Standards of Practice

This page contains links to the Standards of Practice of the Canadian Institute of Actuaries. Click on each blue section title below to view that section of the Standards. Current standards, as well as archived standards, are accessible.

Standards - Complete (Part 1000 to Part 6000).
Details Effective Date
Standards of Practice (Effective January 1, 2018) 01/01/2018
325 pages. These final standards are effective on January 1, 2018. Early implementation is encouraged. Consolidation of previous changes only.
Standards of Practice (Effective October 15, 2017) 15/10/2017
320 pages. These final standards are effective on January 1, 2018. Early implementation is encouraged. Consolidation of previous changes only.
Standards of Practice (February 3, 2017, effective April 15, 2017) 15/04/2017
304 pages. These final standards are effective on April 15, 2017. Early implementation is permitted. Consolidation of previous changes only.
General Standards (Part 1000)
Details Effective Date
Standards of Practice – General Standards (January 2017, effective January 2018) 01/01/2018
96 pages. These final standards are effective on January 1, 2018. Early implementation is encouraged.
Standards of Practice – General Standards (January 2017, effective January 2018) 01/01/2018
96 pages. These final standards are effective on January 1, 2018. Early implementation is encouraged.
Standards of Practice – General Standards (Effective October 15, 2017) 15/10/2017
92 pages. Effective October 15, 2017. Early implementation is permitted.
Standards of Practice – General Standards (June 9, 2015) 29/06/2015
91 pages. Effective on June 9, 2015. Early adoption is permitted.

Most Recent Related Memorandum (Part 1000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Final Standards of Practice – Establishment of Social Security Practice-Specific Standards (Part 7000) 15/10/2017
2 pages.
Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) 29/06/2015
2 pages.
Show Archive +
Publication DateAccession Number TitleDownload
09/12/2014 214128 Memorandum: Final Standards – Revisions to the General and Practice-Specific Standards – Consistency of Reporting and Conformance with International Standard of Actuarial Practice 1 Download
15/05/2014 214048 Memorandum: Final Standards – Revisions to Economic Reinvestment Assumptions within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Section 2300 and Subsection 1110) Download
09/01/2014 214007 Memo: Final Standards – Revocation of the Current Standards of Practice Entitled Recommendations – Dividend Determination and Illustration and Explanatory Notes in Amplification of Certain Dividend Recommendations, and Introduction of a New Subsection Relating to Participating Policy Dividend Determination in Part 2000 – Practice-Specific Standards for Insurance Download
31/12/2013 213051 Memorandum: Final Standards – Part 4000 Practice-Specific Standards for Actuarial Evidence and Relevant Paragraphs of Part 1000 General Standards Download
31/12/2013 213068 Memorandum: Correction of Minor Errors in the Final Standards – Part 4000 Actuarial Evidence Download
31/05/2013 213025 Memorandum: Final Standards – Revisions to Part 6000 Practice-Specific Standards for Post-Employment Benefit Plans and Paragraph 1110.25.1 of Part 1000 General Standards Download
01/01/2013 212105 Memorandum: Minor Revision to Standards: Harmonization of the Appointed Actuary’s Report with IASB (IAS 1) Terminology Download
30/11/2012 212057 Correction of Minor Error in the Standards of Practice for General Download
Insurance (Part 2000)
Details Effective Date
Standards of Practice – Insurance (February 3, 2017, effective April 15, 2017) 15/04/2017
91 pages. These final standards are effective on April 15, 2017. Early implementation is permitted.

Most Recent Related Memorandum (Part 2000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Revisions to the Practice-Specific Standards for Insurance (Part 2000) 03/02/2017
2 pages.
Show Archive +
Publication DateAccession Number TitleDownload
29/06/2015 215051 Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) Download
15/05/2014 214048 Memorandum: Final Standards – Revisions to Economic Reinvestment Assumptions within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Section 2300 and Subsection 1110) Download
09/01/2014 214007 Memo: Final Standards – Revocation of the Current Standards of Practice Entitled Recommendations – Dividend Determination and Illustration and Explanatory Notes in Amplification of Certain Dividend Recommendations, and Introduction of a New Subsection Relating to Participating Policy Dividend Determination in Part 2000 – Practice-Specific Standards for Insurance Download
30/06/2013 213046 Memo: Minor Revisions to the Standards: Linkages between General and Practice-Specific Standards Download
15/03/2013 MRC031513 Memorandum: Most Recent Changes (Includes the memoranda 213009 and 213014) Download
15/03/2013 213009 Memorandum: Final Standards for Practice-Specific Standards on Insurance Contract Valuation (Section 2300) to Narrow the Range of Practice on Certain Elements Download
07/02/2013 213005 Memorandum: Final Standards – Introduction of Standards Relating to Appointed Actuary Opinions with Respect to Use of Internal Models to Determine Required Capital for Segregated Fund Guarantees Download
01/01/2013 212105 Memorandum: Minor Revision to Standards: Harmonization of the Appointed Actuary’s Report with IASB (IAS 1) Terminology Download
30/09/2001 20167 Memorandum: Amendment to Section 4.9 of the Standards of Practice for the Valuation of Policy Liabilities of Life Insurers Download

Current Related Promulgations (Part 2000)


Publication DateAccession Number TitleDownload
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30/07/2017 217079T Final Communication of a Promulgation of Prescribed Mortality Improvement Rates and Associated Margins for Adverse Deviations within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Subsection 2350) and the Accompanying Promulgation – Excel Workbook Download
30/07/2017 217079 Final Communication of a Promulgation of Prescribed Mortality Improvement Rates and Associated Margins for Adverse Deviations within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Subsection 2350) and the Accompanying Promulgation Download
28/07/2017 217081 Final Communication of Updated Promulgations of the Ultimate Reinvestment Rates and Calibration Criteria for Stochastic Risk-Free Interest Rates in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2330) Download
28/07/2017 217080 Final Communication of a Promulgation of Calibration Criteria for Equity Investment Returns Referenced in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2370) Download
11/05/2017 217052 Initial Communication of Updated Promulgations of the Ultimate Reinvestment Rates and Calibration Criteria for Stochastic Risk-Free Interest Rates in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2330) Download
02/05/2017 217048 Initial Communication of a Promulgation of Prescribed Mortality Improvement Rates and Associated Margins for Adverse Deviations within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Subsection 2350) and the Accompanying Promulgation Download
02/05/2017 217048T Initial Communication of a Promulgation of Prescribed Mortality Improvement Rates and Associated Margins for Adverse Deviations within the Practice-Specific Standards on Insurance Contract Valuation: Life and Health (Accident and Sickness) Insurance (Subsection 2350) and the Accompanying Promulgation – Excel Workbook Download
02/05/2017 217049 Initial Communication of a Promulgation of Calibration Criteria for Equity Investment Returns Referenced in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2370) Download
21/08/2014 214096 Final Communication of a Promulgation of Calibration Criteria for Investment Returns Referenced in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2360) (Fixed Income Returns) Download
15/05/2014 214046 Final Communication of Promulgations of the Maximum Net Credit Spread, Ultimate Reinvestment Rates, and Calibration Criteria for Stochastic Risk-Free Interest Rates in the Standards of Practice for the Valuation of Insurance Contract Liabilities: Life and Health (Accident and Sickness) Insurance (Subsection 2330 of the Final Standards for Revisions to the Standards of Practice) Download
Pension Plans (Part 3000)
Details Effective Date
Standards of Practice – Pensions (June 9, 2015) 29/06/2015
44 pages. Effective on June 9, 2015. Early adoption is permitted.

Most Recent Related Memorandum (Part 3000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) 29/06/2015
2 pages.

Current Related Promulgations (Part 3000)


Actuarial Evidence (Part 4000)
Details Effective Date
Standards of Practice – Actuarial Evidence (June 9, 2015) 29/06/2015
28 pages. Effective on June 9, 2015. Early adoption is permitted.

Most Recent Related Memorandum (Part 4000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) 29/06/2015
2 pages.

Current Related Promulgations (Part 4000)


Public Personal Injury Compensation Plans (Part 5000)
Details Effective Date
Standards of Practice – Public Personal Injury Compensation Plans (June 9, 2015) 29/06/2015
18 pages. Effective on June 9, 2015. Early adoption is permitted.

Most Recent Related Memorandum (Part 5000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) 29/06/2015
2 pages.
Post-employment Benefit Plans (Part 6000)
Details Effective Date
Standards of Practice – Post-Employment Benefit Plans (June 9, 2015) 29/06/2015
31 pages. Effective on June 9, 2015. Early adoption is permitted.

Most Recent Related Memorandum (Part 6000)


Details Effective Date
Memorandum: Final Standards – Revisions to General Standards to Reflect the Use of Models 01/01/2018
4 pages.
Memorandum: Minor Revisions to the Standards of Practice to Comply with the Access for Ontarians with Disabilities Act (AODA) 29/06/2015
2 pages.
Social Security Programs (Part 7000)
Details Effective Date
Standards of Practice – Social Security Programs 15/10/2017
15 pages. Effective October 15, 2017. Early implementation is permitted.

Most Recent Related Memorandum (Part 7000)


Details Effective Date
Memorandum: Final Standards of Practice – Establishment of Social Security Practice-Specific Standards (Part 7000) 15/10/2017
2 pages.