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PENSIONmate Pension Valuator
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| New for 2004: An actuary reviewed the PENSIONmate Pension Valuator software for accuracy of calculations.
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The PENSIONmate Pension Valuator software attempts to apply the Standards of Practice as set out by the Canadian Institute of Actuaries ("CIA") in order to calculate a range of value pensions for family law purposes. You obtain the input information from the Pension Plan Administrator using our own "Pension Plan Information Request Letter", as well as other documents readily available to the pension plan member. The PENSIONmate Pension Valuator has become an invaluable tool to those family law specialists who take the time to understand pension valuations as they relate to family law issues. We currently have over 450 licensed PENSIONmate users.
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The PENSIONmate Pension Valuator is, and will remain, a valuable tool for the serious family law practitioner who needs to provide his or her clients with quick, cost-effective pension estimates for the purposes of negotiation.
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The PENSIONmate Pension Valuator was designed
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to aid the family law practitioner by providing a range of capitalized values of pension entitlements on marriage breakdown for the purposes of lump sum equalization payments according to the CIA Standards of Practice, September 1, 1993;
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to provide information to assist the family law practitioner in the tactical planning and subsequent negotiation of their clients' cases as they relate to pension valuations;
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to allow the lawyer to quickly make an educated estimate of a pension during the initial client meeting - "Is this pension worth $2,000, $20,000 or $200,000?";
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to help demystify the actuarial valuation process by making family lawyers more aware of the concepts and principles behind pension valuations;
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to enable a family lawyer representing a pension member spouse to review the member's actuarial valuation by running a number of scenarios based on the information used in the valuation or other information as it pertains to current family law and the situation at hand; and
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to soften the cost of family law litigation by reducing the disbursement expenses associated with simple pension valuations.
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After using the PENSIONmate Pension Valuator, you will begin to understand the meaning and application of the following actuarial terms: Unreduced Early Retirement Age, Bridging Supplement, Indexing, Pro-rata Benefits Method, Pro-rata Service Method, Value Added Method, Retirement Method, Termination Method.
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Warning:
PENSIONmate printouts do not constitute an actuarial “report or opinion” for the purposes of the computation of the capitalized value of pension entitlements on marriage breakdown for the purposes of lump sum equalization payments.
The PENSIONmate calculations are meant as a guide for discussion purposes only and results should not be used as the values for marriage breakdown purposes.
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