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This course examines key financial concepts, pension governance, actuarial valuations, pension fund liabilities, financial reporting issues and the various implications on cash flow.

Commuted Values and Related Financial Calculations

  • It’s all about accumulation
  • The CAP income stream
    • lump sum accumulation
  • The DB income stream
    • Commuted values
      • impacted by legislation
        • Minimum Standards Legislation
        • Income Tax Act
    • impacted by CIA Standards
  • Using the calculation tools
  • Practical exercise – pulling it all together

Actuarial Valuation Process

  • What is an actuarial valuation?
  • Funding a pension plan
  • The valuation process:
    • data collection
    • assumptions & methods
    • calculating assets and liabilities
    • the gain/loss analysis
    • contribution requirements
    • preparing the report
  • Practical exercise: case study project

Understanding the Actuarial Valuation

  • Funding for pension benefits (going concern & solvency)
  • Accounting for pension benefits
  • Disclosure requirements vs. communication
  • Pension deficits & surplus
  • Practical exercises – calculations throughout

Pension Plan Assets

  • Requirement to fund
  • Three interdependent policies – funding, investment & benefit
  • Pension plan investing differentiators
    • Time horizon
    • Tax sheltering
    • Legislation & regulations
    • CAPSA guidelines
  • Pension investing basics
    • Capital Markets and pension fund assets
    • typical pension plan assets
    • risk & return, diversification & correlation
    • strategic and tactical asset mixing
    • measuring fund performance
  • Understanding pension plan costs


“Extremely well delivered course. The facilitators are outstanding, very engaging and explained the course content methodically. The interaction and personal experiences made the material relevant."

Khalil Ahmed, Mobius Benefits Administrators Inc, Regina