The estimated aggregate funding level of pension plans sponsored by S&P 1500 companies dropped two percentage points to 81% at the end of August. Rising interest rates helped mitigate losses in equity markets.
After seven consecutive quarters of positive returns, Canadian pension plans broke their winning streak in the second quarter of 2015.
Investment returns below public pension plans' benchmarks mean that future contributions from participating state and local governments will have to rise in order to recover lost ground, Fitch Ratings says.
The number of Canadian workers with DB plans has continued to decline, says Statistics Canada.
The financial health of Canadian DB pensions declined sharply this week after improving through most of the second quarter, says Aon.
The solvency position of Canadian pension plans rose in the second quarter of 2015 because of rising interest rates.
The last bastion of DB plans—the public sector—is under attack, but there’s still life in the DB model
The Government of Newfoundland and Labrador has agreed to contribute more than $1.8 billion in the form of a promissory note to the Teachers' Pension Plan to ensure its sustainability.
The largest Canadian pension plans saw their combined liabilities increase to $179 billion from $154 billion and their overall financial health decline in 2014, a report finds.
The market value of Canadian employer-sponsored pension funds grew by 3% to $1.5 trillion in the fourth quarter of 2014, marking a sixth consecutive quarterly increase, says Statistics Canada.