2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse) 2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova.

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Presentation transcript:

2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse) 2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse) Canadian Institute of Actuaries Canadian Institute of Actuaries L’Institut canadien des actuaires L’Institut canadien des actuaires

2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse) 2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse) PD-36 Nova Scotia Pension Review Panel PD-36 Nova Scotia Pension Review Panel Speakers: Dick Crawford Ron Pink Moderator: Peter Hayes Speakers: Dick Crawford Ron Pink Moderator: Peter Hayes

Background Societal change Declining pension coverage One of 3 Panels/Commissions Final report January, Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009

Themes Hopes and promises Governance Flexibility New stuff – Province-wide plan – Promotion – Minimum funding standard 2009 Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009

Our session … Hopes and promises (Ron and Dick) Governance (Ron) Flexibility (Ron and Dick) New stuff – Province-wide plan (Dick) – Member issues (Dick) – Promotion (Ron and Dick) – Minimum funding standard (Peter) … and YOU!!! 2009 Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009

Funding Current regime – Going concern and solvency Criticisms – Exceptions Municipalities, SMEPPs, Universities – Going concern and solvency Too much discretion, too conservative … 2009 Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009

Funding (cont’d) Proposed new minimum funding standard – Same for all plans – Must include ALL promises – Less conservative than solvency, less discretion than going concern Doesn’t preclude higher funding (per plan’s funding policy) 2009 Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009

Our session … Hopes and promises (Ron and Dick) Governance (Ron) Flexibility (Ron and Dick) New stuff – Province-wide plan (Dick) – Member issues (Dick) – Promotion (Ron and Dick) – Minimum funding standard (Peter) … and YOU!!! 2009 Annual Meeting Assemblée annuelle Annual Meeting Assemblée annuelle 2009