News and Insights

Press Releases

June 22, 2017

Think public-sector pensioners outlive those in the private sector? Think again

New results from Club Vita Canada: There are better ways to differentiate how long pensioners live – one of the most crucial: their postal code.

TORONTO, June 22, 2017 – New research on Canadian pension and post-retirement benefit plans dispels the view that public-sector pensioners live longer than their private-sector counterparts. After investigating a comprehensive set of factors to explain how long pensioners are living, Club Vita Canada – the first dedicated longevity analytics provider for Canadian pension plans and a subsidiary of Eckler Ltd. – has found that whether a pensioner worked in the public or private sector isn’t a meaningful or reliable factor. Read more ...

February 21, 2017

Canadian pensioners not living as long as expected

Ground-breaking results from Club Vita Canada reveal some DB pension plans are overestimating their liabilities

New research finds longevity for Canadian pensioners is lower than anticipated – which may actually be costing DB plan sponsors.

Canadian male pensioners are living about 1.5 years less than expected from age 65, according to the latest data from Club Vita Canada Inc. – the first dedicated longevity analytics firm for Canadian pension plans and a subsidiary of Eckler Ltd. Female pensioners are living about half a year less than expected. Read more ...

October 5, 2015

Club Vita Canada to revolutionize longevity measurement and management for pension plans

Canadians are living longer, and longevity risk has become the biggest unmanaged threat facing Canadian defined benefit (DB) pension plans. Over the past decade, DB plan sponsors have made significant strides to understand and manage their key financial risks. However, to date, plan sponsors have lacked the resources to truly understand their longevity risk. This leaves plan sponsors exposed to unforeseen costs that can threaten the financial security of both their plans and their members. Club Vita Canada Inc., officially launched today by Eckler Ltd., will build on the work already being done by the Canadian Institute of Actuaries to significantly advance the current state of Canadian pensioner longevity measurement and modelling. Read more ...

Thought leadership articles
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
T 416.696.3067
Richard Brown FCIA FSA CFA
T 416.696.3016