PENSION FUNDS FACE SHORTFALL - MOODY'S

Sep 19, 2013

By AM740 Staff

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Pension funds in Newfoundland and Labrador and Quebec are at risk.

That’s the finding of credit ratings agency Moody’s.

It says both funds face large shortfalls.

Saskatchewan also has a large pension deficit but Moody’s says the province has closed its defined-benefit plans  and begun funding pensions with a pay-as-you-go approach.

Ontario was the only province with a small surplus.

Underfunded pension programs were also reported within major Canadian companies including Bell Canada, Canadian Pacific Railway and Canada Post.

 

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