The number of chief financial officers who believe there is a defined benefit(DB)pension crisis in Canada continues to grow, according to a survey.

The Conference Board of Canada’s 2006 Survey on Pension Risk, in collaboration with Watson Wyatt Worldwide, found that 80% of CFOs believe there is a widespread crisis, up from 59% two years earlier.

Sixty-one percent believe there is a widespread problem that will continue for the next few years, up from 43% in 2005 and 20% in 2004.

Vice-presidents of human resources share CFOs’ opinions on the existence of a Canadian pension crisis, with two-thirds saying there is a widespread and long-lasting problem.

The survey was completed by 198 respondents from 187 organizations.

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