After stronger market performances in 2009 and 2010, returns took a turn for the worse in 2011. The TSX declined by 11%, and lower interest rates increased pension liabilities.
Governments around the globe will need to gradually increase their retirement ages in order to keep their pension systems sustainable, according to a new report from the Organisation for Economic Co-operation and Development (OECD).
According to BNY Mellon’s most recent pension summary report, the funded status of the typical U.S. corporate pension plan fell 6.5 percentage points in May, to 69.8 percent—that's’ the lowest level since BNY Mellon began tracking this information in December 2007.
The Canadian Federation of Independent Business (CFIB) is once again squaring off against public sector pensions. The CFIB—which is no stranger to the debate of public sector pension funding—has just released a report entitled Canada’s Hidden Unfunded Public Sector Pension Liabilities, which states that Canadians could be on the hook to pay an extra $9,000 for the unfunded liabilities of public sector pension plans.
Towers Watson has released its 31st annual Canadian Survey of Economic Expectations—and it’s a gloomy outcast.
The European Commission is on the cusp of endorsing the revised International Accounting Standard (IAS 19) for use by Europe-listed companies, but the effects on many companies’ financial statements remain uncertain, according to Mercer.
The DB versus DC debate has been boiling away for many years. Hopefully you will find the following adds a few new thoughts to this continuing saga.
In 2011, the Ontario government announced measures offering temporary solvency relief for eligible public sector pension plans that are less than 90% funded. A number of Ontario universities have already signed on for relief, and other plans—both public and private—can learn from their experience in the fight for sustainability.
It’s been a good year for Canadian pension plans so far, with funds showing their best results in close to two years, according to a survey by RBC Dexia Investor Services.
Keith Ambachtsheer is asking one question that is on the pension industry’s mind right now: how much should pension staff get paid?