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5) Data, Methodology & Assumptions
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The present section briefly describes the methodology used as well as the underlying data sources and main assumptions.
First, the data for the base year of 2007 (the last calendar year for which complete data is available) must be updated with the corresponding data and adjusted with the year-to-date data of 2008. On the expenditure side, our model is based on the actual amounts paid for each benefit type, as well as other items, mainly administration costs.
In regards to insurable earnings, 2006 is the last year for which we have complete data. The Canada Revenue Agency will only release final results for 2007 in January 2009.
Finally, these projections are carried out to 2008 and 2009 based on the projected annual rates of change for each factor as described in Appendix III.
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