Pension wealth advanced to $2.85 trillion at the end of 2013, up 11.4% from 2012, says Statistics Canada.
Statistics Canada says the market value of Canadian employer-sponsored pension funds rose for the fourth consecutive quarter, totalling $1.4 trillion at the end of the second quarter.
A report finds that U.S. DB pension plans are a far more cost-efficient means of providing retirement income as compared to individual DC accounts.
The Office of the Superintendent of Financial Institutions has a smaller number of federally regulated pension plans on its watch list.
The solvency position of Canadian pension plans dipped in the third quarter of 2014, according to Mercer.
Bristol-Myers Squibb will settle US$1.4 billion in pension obligations through the purchase of a group annuity contract from The Prudential Insurance Company of America.
Lower long-term interest rates drove down the solvency of Canadian DB plans from July to September. It was the first decline in two years.
Manitoba Telecom Services (MTS) has reached an agreement with its unions and retirees in respect of the implementation of the lawsuit regarding the administration of one of its pension plans.
Motorola Solutions has reached an agreement with the Prudential Insurance Company of America, under which the insurer will assume responsibility for the monthly pension benefits for retirees. Motorola Solutions also will offer eligible U.S. pension plan participants the opportunity to apply for lump-sum pension payments.
Funding gaps for large public pension plans in the United States have widened over the last 10 years despite long-term investment returns meeting plan expectations, says Moody's Investors Service.