Project |
Description |
Status |
Impact of Longevity Provision on Canadian Retirement Income Planning |
An academic study that examines how the provision of longevity annuities can impact retirement planning based on Canadian-specific assumptions, to help individuals plan their retirement income and usage of annuities. |
Active |
Impact of Population Aging on Asset Values |
Explores the impact of population aging on economic variables. |
Active
(joint project: CIA/SOA/IFoA) |
Modern Metrics for Intergenerational Equity in Occupational Pensions |
Intergenerational equity has long been an important consideration in the management of social security programs and blocks of annuity business but received relatively little attention in the occupational pension sphere until recently.
Proper dialogue around intergenerational equity is severely hindered by three factors: (1) the lack of uniform definitions and language, (2) practitioners’ lack of familiarity with existing metrics for intergenerational equity, and (3) limited availability of modern, forward-looking metrics. The objective of the current project is to catalogue relevant definitions of intergenerational equity, identify existing metrics, and develop new ones suitable for occupational pensions in stochastic applications.
|
Active |
Longevity and Mortality Hedging |
A study of the effectiveness of longevity- and mortality-linked financial derivatives as hedging instruments in a pension risk management strategy. This project should contribute to the development of capital market solutions in the mitigation of longevity or mortality risk, from an academic and scientific point of view. |
Active |
Pensions and Low Interest Rates |
An assessment of the impact of a persistent low interest rate environment on the Canadian retirement system. This project would evaluate how the long-term low interest rate scenario affects each type of retirement income security. |
Active |
The Alone Stage of Retirement |
Describes the financial and social issues likely to be faced by many Canadians in the alone stage of retirement, offers ideas to address these issues, and provides some analysis regarding the likely cost and effectiveness of such ideas |
Active (joint project: CIA/SOA) |
Longevity and Morbidity Risk II |
Model, measure, and manage longevity and morbidity. Application driven, with impact and innovation in the pension and insurance industries from a global perspective. |
Active (joint project: CIA/SOA/IFoA) |
Impact of Low Interest Rate Environment on Canadian Retirement Income Programs |
This project focuses on the prospect of a prolonged low interest rate environment potentially arising on account of structural changes in the economy driven by demographic factors. In addition to a review of existing literature, it also provides a snapshot of current economic thinking around these issues at large pension organizations and selected actuarial service providers.
|
Active |
Longevity and Mortality Hedging |
The goal of this project is to establish a set of longevity/mortality indexes that would be useful for the hedgers and that would be transparent and liquid enough to interest capital market participants, beyond (re-) insurance companies, to earn a premium for providing the hedge. The development of that market hinges precisely on the two competing requirements of devising a small set of transparent indexes which are yet varied enough so that hedging does not entail too much population basis risk.
|
Active |
Quantifying the Welfare Impacts of Pension Mergers |
The goal of this research project is to add a quantitative element to the discussion of the merits of plan mergers and consolidation, by providing a framework and an evaluation mechanism under which the welfare impacts of various deals can be assessed. The framework will include: (1) an economic scenario generator that allows for inflation, interest rate and asset dynamics; (2) a model of economies of scale; (3) a model for longevity risk; and (4) a procedure to condense information into simple welfare measures. Use of the framework will be demonstrated with specific hypothetical pension plans.
|
Active |
Retirement Risk Survey |
Canadians will be surveyed on their awareness of the risks associated with retirement. The focus will be on perception vs. reality when it comes to areas such as longevity, probability of needing long-term care, etc., in order to identify levels of preparedness, awareness, and potential areas of improvement for the public and policy makers.
|
Active |