The Office of the Chief Actuary announced is commissioning an external peer review of its next actuarial report on the Canada Pension Plan.

Actuarial reports on the CPP are conducted every three years and are used by the federal and provincial ministers of Finance when reviewing and making recommendations on the CPP. The next report is expected to be released in December of this year.

The peer review is intended to ensure that the actuarial reports are based on reasonable assumptions and meet high professional standards.

“This peer-review process has been in place for over 10 years and has generated a number of valuable recommendations,” Jean-Claude Ménard, Canada’s chief actuary, said Thursday.

“We review and analyze each recommendation and have incorporated many of them to provide Canadians with more relevant information and to improve the quality and transparency of our actuarial reports.”

The UK Government Actuary’s Department will select the members of the peer review panel between July and September. Once the actuarial report is tabled in Parliament, the panel will have three months to perform the review. When the review is completed, the GAD will have one month to provide an opinion on the work. The review will then be made public.

IE