The largest Canadian corporate pension plans are now nearly fully funded, and some plans are beginning to take steps to de-risk, according to a report.
The market value of Canadian employer-sponsored pension funds totalled $1.3 trillion at the end of the fourth quarter of 2013, up 5.8% from the third quarter, according to Statistics Canada.
The funded status of Canadian pension plans has declined slightly.
The funded status of the typical U.S. corporate pension plan fell 0.4 percentage points in May 2014 to 90.6%, a new 2014 low.
The Association of Canadian Pension Management believes that a new funding regime must be developed to preserve DB pension plans.
Pension assets rose for a third successive quarter as global financial markets continued to progress during the first quarter.
The City of Detroit, working through federal bankruptcy mediators, has reached an agreement on pension and healthcare benefits with an association representing retired Detroit police and firefighters.
The Colleges of Applied Arts and Technology Pension Plan reported a 13.9% net return for the year that ended on Dec. 31, 2013.
Ottawa's unfunded liabilities for employee pension plans rose to $272 billion in 2013, far larger than reported, according to a C.D. Howe Institute study.
The funded status of the typical U.S. corporate pension plan declined in March.