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ACPM says governments must act to save DB plans

The Association of Canadian Pension Management is calling for a meeting of federal and provincial ministers responsible for pensions as early as this fall to discuss solutions to the in every one's mouth defined benefit funding crisis.

In a newly released report, Back From The Brink: Securing the futurity of Defined Benefit Plans,' the ACPM discussed threats to DB plan coverage in Canada, and made a number of recommendations for regulatory changes in order to accelerate a broader public dialogue around DB pension plan funding.

In spite of growing in Canada's total workforce, DB plan coverage has declined, particularly in the private sector. Statistics Canada data exhibits that in 1992, 91.5% of Canada's public sector employee and 286% of Canada's private sector employee were overlayed by DB plans. By 2004 that percentage had dropp to 79% and 205% respectively. In addition, the Certified General Accountants Association of Canada estimates that at the extreme point ...


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