Alan Brereton

Alan Brereton
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Alan Brereton is the first recipient of the Gordon Nelson Award of the Canadian Charitable Annuity Association.

Alan Brereton is a retired actuary who still does consulting work with Eckler Partners Ltd.Alan is a United Church member who approached the Gift Planning Officer to express his concern about the viability and funding formula securing sufficient financial backing of annuities issued and guarantying future income streams for annuitants.He became a member of the Gift Planning Committee of The United Church of Canada so he could continue to challenge the United Church until their systems covered all of his actuarial concerns.

After he became Chair of the Planned Giving Committee, Canada Revenue Agency changed the requirements for the receipting of Charitable Gift Annuities Dec. 21, 2002.The new system required all charities to use a market value for the prescribed annuity portion of the gift.Charities had to then acquire these market value quotes from CANNEX at extra costs to themselves.When Alan determined that these costs were significant for the Charitable Annuity community, he set about devising a quotation system that all charities could use that eliminated the necessity of using an outside agency.This system has been a blessing to all the charities since they can now quote quickly, easily and at a very low cost.This has been an exceptional contribution to the charitable annuity sector by a professional with a unique grasp of annuity complexities.

Now that the system is up and running to his satisfaction, Alan has turned his attention back to the Insurance industry.He is working with them to develop consistent standards among those who do the actuarial evaluations of those charities issuing charitable gift annuities.

Alan Brereton, as the 2005 recipient of the Gordon Nelson Award, very much exemplifies the characteristics of professionalism and has exhibited a very strong commitment to the charitable annuity community.

Alan Brereton, an actuary and the developer of the QUALGA programme, then looked at the study for CCAA.He felt that it was unfortunate as pricing on a unisex basis understates the annuity for the males and overstates it for the females.Further if a charity issues significantly more annuities to females than males (more than 60%/40%), the total annuity payments are too high.

In looking over the tables, he determined that by combining 60% of the female mortality of the Annuity 2000 table rated down 3 years with 40% of the male mortality of the Annuity 2000 table also rated down 3 years it was equivalent to the female Annuity 2000 mortality rated down 1.5 years.This was done for the block of ages 65 and over.