This summer, the Canadian Institute of Actuaries released new pension mortality tables. The tables revealed longer life expectancies than were previously provided by commonly used tables. Some of the industry reaction has focused on the longevity risk faced by DB pension plans.
Coverage of the 2013 Risk Management Conference.
New figures confirm that life expectancy in Canada has increased—a trend that, in the eyes of experts, poses a threat for the sponsors of both DB and DC plans and calls for new measures such as transferring risks to insurance companies and providing education for plan members.
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Today, most plan sponsors’ contributions to their DB plans are being driven by the results of their pension plans’ solvency valuations.
Are you coming to the 2013 Risk Management Conference? If not, you'll be missing out on our roster of expert speakers from around the world.
Despite tastes for beaver tails and poutine, Canadians are living longer than ever before. And if you’re an employer with a DB pension plan, it probably means that you’ll be paying pensions to your retirees for longer than you expect.
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The thinking for plan sponsors over the last decade has been to reduce risk, reduce liabilities, get out of DB and move to a DC pension model. But a pure DC plan isn’t the answer to the overarching pension problem—and neither is DB, argued Yvan Legris, global CEO, consulting, with Aon Hewitt, at a recent Toronto Board of Trade event.
Retirement concerns are keeping a younger group of Americans up at night, according to new research from the Pew Research Center in Washington, D.C.
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