In 2011, a propaganda war was launched attacking the generous pensions paid to Canadian public sector workers.
Canadians have doubts about their private and government-funded pension plans, according to a survey carried out as part of the National Bank of Canada’s Retirement Index. Despite an increase from 2010 in Canadians’ overall confidence regarding retirement and savings (from 5.4 to 5.9 out of 10), confidence remains low—particularly with respect to the government’s ability […]
Despite a rebound in stock markets in October, the solvency financial positions of most Canadian pension plans failed to improve in the fourth quarter due to a drop in federal bond yields, according to a Mercer report.
Increased longevity poses a real risk to DB plans. Mortality improvement continues to trend upward, and this is particularly pronounced at older retirement ages.
Finance Minister Jim Flaherty told reporters in Vancouver yesterday that the budgets of some government departments could be cut by more than 10%—and that issues such as pension reform and other benefits for public servants are under the microscope.
A further drop in federal bond yields halted improvements in the solvency financial positions of most Canadian pension plans through Q4, despite an October rebound in stock markets, according to the Mercer Pension Health Index.
The combined effects of poor investment returns and decreasing interest rates led to a tough 2011, according to data from the Towers Watson DB Pension Index.
Economic volatility is causing many U.S. plan sponsors to worry about the sustainability of their plans, reports Mercer.
Canada needs to boost the number of DB plans among employers rather than focusing on introducing cheaper alternatives. That’s the recommendation from John Crocker, outgoing president and CEO of the Healthcare of Ontario Pension Plan (HOOPP).
The federal government's unfunded liabilities for its employee pension plans total $227 billion—far more than reported, according to a report by the C.D. Howe Institute.