Government Operations committee  Yes.

Government Operations committee  The answer is yes.

Government Operations committee  That answer is also yes.

Government Operations committee  First off, we received the proposal contained in Bill C-45 . In some ways, it's a fairly easy change to make because the total cost of the plan stays the same as far as we're concerned, except for new contributors. That cost, however, will materialize over time. For the first fi

Government Operations committee  They appear, by the way, in the report that was tabled in Parliament.

Government Operations committee  Yes, exactly. Those who retired at 60 will receive benefits for an average of 25 years.

Government Operations committee  And the amount is...?

Government Operations committee  I can confirm that the amount you mentioned is right, and indeed the actuarial report has shown a surplus. I would say it's inevitable in a sense. People are living longer, which means they are dying later. It's clear that the insurance plan might develop surpluses over time. I

Government Operations committee  It's a very good question. It was first reported in the 2011 actuarial report. Before that there was a small surplus.

Government Operations committee  First, because the changes are looking forward, it means the balance sheet as of March 31, 2011, is not impacted, so the deficit is exactly the same. Over time, employees will pay a bit more than they previously paid and the government will pay a bit less. As the total curren

Government Operations committee  There has been a trend in other jurisdictions where the objective is to share what we call the current service costs 50-50. In the most recent Ontario budget, I think they mentioned that, as well as in Quebec. This trend of sharing the current service cost in equal parts betwee

Government Operations committee  Mr. Chair, honourable members of the committee, good morning. Thank you for the opportunity to appear before you today. The primary role of the Office of the Chief Actuary is to provide actuarial services to the federal and provincial governments that are Canada Pension Plan sta

Status of Women committee  Well, although it's my office, I'm not responsible for this particular section of the business of OSFI. But when I look at my responsibility for the Canada Pension Plan, everything that helps to reduce the volatility of financial markets is definitely helpful to all administrator

Status of Women committee  The last two quarters on the financial markets have been positive, exceeding expectations. In that sense, things have recovered from the previous eight quarters. During that time, returns were lower than forecast. However, how things will evolve is quite uncertain. Be that as it

Status of Women committee  From 1966 to 1986, it was 3.6%. After that there was a gradual increase which reached 5.6% in 1996. There was a significant increase from 1996 to 2003. It went from 5.6% to 9.9%.