There’s trouble brewing in the defined benefit pension space, says the Financial Post.
On the heels of a couple rosy reports from Mercer and Aon Hewitt, Canada-based bond rating agency DBRS is sounding the alarm.
Read: Top 100 pension plans post 2012 growth
Based on an examination of 461 defined-benefit plans in Canada, the U.S., Europe and Japan, the DBRS report says the aggregate funded status of these plans has hit a low point of 78.3% (a rating below 80% means plans aren’t satisfying the agency’s minimum funding threshold), says the FP article.
Read more here. Click here for Benefits Canada’s report.
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