"We think funding needs to be strengthened. We've got a maturing system in Canada. We're seeing pension plans with two or three generations of liabilities in them...
"We've got plans that can't take much in the way of bad news.''
Other contentious issues include: who owns pension surpluses in DBPs and what happens to pensions in bankruptcy or insolvency situations.
Unfortunately, the atmosphere is "too hostile, too entrenched'' for any government to make needed changes to pension rules and regulations, he said. "Until we do, all we'll see is a slow and steady decline in DBP funds. I don't think that serves anyone's interest.''
Thursday, February 09, 2006
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