News and Insights

Thought leadership articles

Feeling the heat?

Authored by EUAN REID, October 22, 2018

Last year, when I told my British friends and colleagues I was moving to Canada, the most common reaction (aside from “good riddance”) was “it’s cold there, isn’t it?”. They might have been shocked to learn of the very unfortunate reports that there were up to 70 deaths caused by the July heatwave in Quebec this year. Read more ...

Quality of life: impacts on future longevity?


We often look at significant medical advances that extend life as likely contributors to further improvements in longevity. But, could additional improvements in both health and life expectancy also be gained through advances that enhance the quality of life for the elderly? Read more ...

Why hedging longevity risk may be right for your plan (Benefits and Pensions Monitor, Dec 13, 2017)

Whether it's converting to defined contribution (DC) plans, evolving investment strategies, developing glide-paths or annuitizing inactive members, risk mitigation has become ingrained in the Canadian DB pension industry. But despite this evolution, there is one risk that hasn't yet received its fair share of attention: longevity risk.

Reprinted with permission from Benefits and Pensions Monitor.

Key findings from Club Vita Canada's first annual study of defined benefit pensioner longevity

This research summary explores the key findings of Club Vita Canada's inaugural study of Canadian pensioner longevity.

Increasing lifespans: A Pension Plan’s True Longevity Risk (The Observer, 2017 Issue 1)

Increasing longevity is good news for the global population – but it’s a significant risk for pension plan sponsors, since how long people will live after retirement is a key determinant of a plan’s cost.

Reprinted with permission from the ACPM.

How would a universal cancer vaccine affect Canadian pension plans? (June 2016)

The science journal Nature recently published a paper regarding the positive progress of scientists working on a universal cancer vaccine. If such a vaccine were ever created, it would obviously have immense implications—not the least of which is longer, healthier lives for Canadians.

A Deeper Look at Longevity Risk (The Observer, 2016 Spring)

The average Canadian life span has increased dramatically over the past century. In fact, men in B.C. now enjoy a life expectancy in line with that of the longest lived OECD countries. Slowly but surely, the number of years Canadians spend in retirement and the number of years they spend at work have begun to equalize. But a longer retirement comes at a higher cost for defined benefit (DB) plan sponsors – and the heightened risk of individuals in defined contribution plans outliving their retirement savings. This means longevity risk should be understood, measured and managed better by pension plan sponsors.

Reprinted with permission from the ACPM.

Where Canadians live may have a significant impact on how long they’ll live (March 2016)

There’s an old actuarial joke in which someone finds himself treading water in the middle of a 10-foot-deep lake, after being told by an actuary that the lake was five feet deep on average. Averages can help you test the waters. But a proper understanding of your environment often requires a deeper dive.

Do policies that encourage later retirement impact some workers more than others? (Feb 2016)

Rising life expectancies have led policymakers to prompt people to work more years, to better fund longer retirements. In particular, the normal retirement age for both Old Age Security in Canada and U.S. Social Security will gradually increase from 65 to 67 in the coming years. The U.K. has announced similar plans, and intends additional increases based on future improvements in life expectancy.

Ian Edelist FCIA FSA
Richard Brown FCIA FSA CFA