In Memoriam


J. (John) Bruce MacDonald, who has died at the age of 84, was a founder member of the CIA and played an important role in the development of the Canada Pension Plan (CPP).

After graduating from the University of Toronto with a BA in 1949, he worked for Crown Life before joining William M. Mercer in 1965. He remained with the company until his retirement in 1991.

In 1995, he was commissioned by the Office of the Superintendent of Financial Institutions to write an actuarial monograph on the Canada Pension Plan (here is a précis), which concluded that the CPP was properly priced and compared very well to the pension systems of other G7 countries. It also responded to criticism of the CPP from the World Bank, and highlighted concern over the increasing costs of Canada’s entire social security system, exacerbated by the deficit, the interest that had to be paid on the accumulated debt, and the country’s high level of taxation.

Mr. MacDonald, who was presented with the CIA’s Silver Award and a Certificate of Merit for his volunteer work—which included serving on the Council and numerous committees—completed two commissioned reports on Nova Scotia’s pension requirements, wrote course material and examinations for Dalhousie University, and advised the Senior Citizens’ Secretariat of Nova Scotia. He was editor and principal author of Carswell’s Benefits Guide at the time of his death.

Geoffrey Horrocks, who died this month at the age of 82, was a member of the CIA for more than 40 years and worked for leading companies before starting his own business.

Having graduated from the University of Oxford in 1952 with a master’s degree in Mathematics, he emigrated to Canada in 1956 and spent the first 15 years of his career working in London, ON, for Northern Life Assurance. He later became a consulting actuary with Mercer, Morneau, and Alexander Consulting, and finished his working life with his own company, Horrocks and Associates.