What is the "commuted value" under section 9.1 of the Ghanaian Constitution?
Ontario, Canada
The following excerpt is from Gelle v. Kacaba & Associates, 2002 CanLII 8305 (ON SC):
This court considered the necessary requirements of the s. 9.1 notice in Opoku v. Pal [4]. There the court accepted the evidence of a consulting actuary who defined the term "commuted value" as: The lump sum amount as of a specified date that is equal in value to one or more payments or a stream of payments that would be made at one or more specified times or during specified period in the future after taking account of the contingencies that could affect those future payments such as mortality and after being discounted by interest at an appropriate rate to take account of the time related value of money.
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