Canada’s Pension Crisis Deepens

Sixty-one per cent of Chief Financial Officers (CFOs) say the pension crisis in Canada is widespread and likely to persist beyond the next few years, a dramatic increase compared to just two years ago, according to survey findings released recently by The Conference Board of Canada and Watson Wyatt Worldwide.

The preliminary findings of the third annual Watson Wyatt Worldwide-Conference Board of Canada Survey on Pension Plan Risk, released at the 2006 Pensions Summit: Time for Action in Toronto, are based on responses from 187 organizations. Regarding the state of the pension crisis, the key highlights are as follows: