nostr:npub1dwexxepnnvyu0v8prvc8d48c2fs5p2lj80556dmq9deqzefuddxsqsscf0 

Actually, it represents a pretty normal approach to #valuation of #annuities and #pensions.

The method is: if the #province had not joined #CPP, but instead maintained its own plan (like Quebec), had exactly the same #contributions as it did with CPP, got the same rate of return on #investment as CPP, minus everything paid out of CPP?  The reports actually went further and discounted the value of those payouts to get the lower number, even though it's not in the formula.