In June 2004, CGA-Canada launched Addressing the Pensions Dilemma in Canada, a comprehensive report on the current state of Canadian pensions. Included in the report is an examination of pension surplus ownership, and a recommendation for the distribution of surplus or deficit in a 'fair and equitable' manner.
On July 29, 2004, the Supreme Court of Canada ruled that any surplus should be distributed proportionally among affected members. While CGA-Canada supports the Supreme Court’s decision, it believes that proportional distribution is subject to interpretation, and therefore, proposes that any actuarial surplus should be distributed among affected members based on the time-weighted contributions of participants.
To apply this time-weighted approach, CGA-Canada has commissioned the development of an application to calculate the fair and equitable share of any surplus or deficit for participants in a pension plan. This application does not calculate the amount of actuarial surplus or deficit but rather apportions it between participants.
CGA-Canada, in collaboration with the calculator's developer, Mr. Xu Bai, Ph.D., is pleased to make this calculator available for download on this web site.*
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*Disclaimer: The RPP Surplus-Deficit Allocation Calculator is provided 'as is' without warranty of any kind. The entire risk as to the results and the performance of the software is assumed by the user, and in no event will CGA-Canada be liable for any consequential, incidental or direct damages suffered in the course of its use.