News & Updates
Actuarial Standards Board Approves Changes to Practice Specific Standards for Pension Plans of the Canadian Institute of Actuaries
September 08, 2022
The Actuarial Standards Board has approved changes to the Practice Specific Standards for Pension Plans (Part 3000) of the Canadian Institute of Actuaries (CIA).
The most significant changes — which originate from a review of the standards that occur every five years — relate to the discount rate, plausible adverse scenarios, hypothetical wind-up valuations and target benefit plans, according to an Aon Information Bulletin.
The changes, which are said to make it easier for plan administrators to adopt a formal glide path, come into effect Dec. 1, 2022. Early implementation is not permitted.
