The Canadian Institute of Actuaries is pleased to comment on the Department of Finance's Discussion

Submission by the Canadian Institute of Actuaries to the Department of Finance Strengthening the Legislative and Regulatory Framework for Private Pension Plans Subject to the Pension Benefits Standards Act, 1985 March 2009 Document 209018 Ce document est disponible en français © 2009 Canadian Institute of Actuaries Submission to the Department of Finance March 2009 The Canadian Institute of Actuaries (CIA) is pleased to comment on the Consultation Paper from the Department of Finance entitled, “Strengthening the Legislative and Regulatory Framework for Private Pension Plans Subject to the Pension Benefits Standards Act, 1985.” Due to their skills, training and experience, Canada’s actuaries have always been ready to contribute to these types of discussions. Since 2005, the Institute has taken a more proactive approach and has energetically advocated for legislative and regulatory change in several areas, notably in pensions and in the financing of Employment Insurance. This new approach for the profession has led to more active exchanges between actuaries and politicians and government officials than ever before, and has improved communication and understanding of the difficult issues facing governments and Canadians. The Canadian pension system, in particular defined benefit pension plans, has been in decline for a number of years – and it still is. Weakness in any part of the system undermines the whole. The ...