Canada Pension Plan — C-8 115
Report of Chief Actuary 115 (1) The Chief Actuary of the Office of the Superintendent of Financial Institutions shall, during the first year of each three-year period for which a review is required by subsection 113.1(1), prepare a report setting out, as at a date not earlier than December 31 of the year before the three-year period, the results of an actuarial examination of the operation of this Act based on the state of the Canada Pension Plan Account, the Additional Canada Pension Plan Account and the investments of the Investment Board. Contents of report (1.1) The Chief Actuary shall, in the report, (a) state, for each of the 30 years immediately following the date of the examination, (i) the estimated revenues of the Canada Pension Plan Account and the estimated investment income of the Investment Board in respect of the base Canada Pension Plan, and the estimated amount of all payments under subsection 108(3), and (ii) the estimated revenues of the Additional Canada Pension Plan Account and the estimated investment income of the Investment Board in respect of the additional Canada Pension Plan, and the estimated amount of all payments under subsection 108.2(3); (b) state, for each fifth year of a period of not less than 75 years from the date of the examination, an estimate of the percentage of total contributory salaries and wages and contributory self-employed earnings that would be required to provide for all payments under subsection 108(3) in that year if there were no balance in the Canada Pension Plan Account at the commencement of that year and the Investment Board had no investments; (c) in respect of the base Canada Pension Plan, specify a contribution rate calculated, in respect of self-employed persons for each year of a period of not less than 75 years after the three-year period in which the report is prepared, by combining (i) a contribution rate, calculated in the prescribed manner, without taking into account the changes, if any, referred to in paragraph 113.1(4)(e) for which the contribution rate most recently calculated under subparagraph (ii) exceeds zero, and (ii) a contribution rate calculated in the prescribed manner in respect of the changes, if any, referred to in paragraph 113.1(4)(e) in respect of the base Canada Pension Plan; (c.1) [Repealed, 2016, c. 14, s. 52] (d) in respect of the additional Canada Pension Plan, specify a first additional contribution rate calculated, in respect of self-employed persons for each year of a period of not less than 75 years after the three-year period in which the report is prepared, by combining (i) a first additional contribution rate, calculated in the prescribed manner, without taking into account the changes, if any, referred to in paragraph 113.1(4)(e) for which the first additional contribution rate most recently calculated under subparagraph (ii) exceeds zero, and (ii) a first additional contribution rate calculated in the prescribed manner in respect of the changes, if any, referred to in paragraph 113.1(4)(e) that affect the first additional contribution rate; (e) in respect of the additional Canada Pension Plan, specify a second additional contribution rate calculated, in respect of self-employed persons for each year of a period of not less than 75 years after the three-year period in which the report is prepared, by combining (i) a second additional contribution rate, calculated in the prescribed manner, without taking into account the changes, if any, referred to in paragraph 113.1(4)(e) for which the second additional contribution rate most recently calculated under subparagraph (ii) exceeds zero, and (ii) a second additional contribution rate calculated in the prescribed manner in respect of the changes, if any, referred to in paragraph 113.1(4)(e) that affect the second additional contribution rate; (f) specify the rates referred to in subparagraphs (c)(i) and (ii), (d)(i) and (ii) and (e)(i) and (ii) and set out the manner in which those ra