The Canadian Institute of Actuaries (CIA) is pleased to provide comments on the above-noted consultation paper published by the Department of Finance on November 6, 2020.
The consultation paper covers a broad spectrum of pension plan concepts. While we have provided responses to all the questions posed in the consultation paper below, we encourage the Department of Finance to prioritize the development of temporary broad-based solvency funding relief measures in order to address in a timely manner the economic difficulties that many plan sponsors are facing as a result of the pandemic.