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Making Postretirement Plans and Senior Care More Effective

Over the past decade, a movement to reduce – or eliminate – retiree coverage within employer-sponsored benefit plans has become the trend, creating serious concern for the future welfare of Canada’s seniors from both health and financial perspectives. 

Ellen Whelan, Principal and Group Benefits practice leader at Eckler Ltd., explores what can be done today to avoid pushing Canada’s retirees into financial crisis tomorrow. 

Reproduced with permission from Plans & Trusts, Volume 36 Number 4, pages 18-22, July/August 2018, published by the International Foundation of Employee Benefit Plans (, Brookfield, Wisconsin. All rights reserved. Statements or opinions expressed in this article are those of the author and do not necessarily represent the views or positions of the International Foundation, its officers, directors or staff. No further transmission or electronic distribution of this material is permitted.

Reforms May Be the Death Knell for Target Benefit Plans

Recent and proposed pension reforms for target benefit plans (TBPs) – removing solvency funding requirements in favour of more stringent going-concern standards – are a move in the right direction. However, in the process, governments appear to have lost sight of the ultimate purpose of pension plans: providing members with reasonable pensions based on fixed contributions made by members and employers. This singular focus on protecting benefits at the expense of providing adequate pension levels will have unexpected consequences and could threaten the growth, or even the survival, of TBPs.