Assumption reviews of defined benefit (DB) pension plans are more than just a regulatory requirement. Looked at with critical eyes, they can reveal opportunities for added value and identify potential challenges on the horizon.
Take Canada’s shifting demographics. Many people are living longer and retiring later, but data sets used by DB pension plans may be outdated. For example, a plan may be using mortality assumptions which are not conservative enough (or too conservative), or may be unrealistically assuming that all members retire by age 65.
Watch this video to gain an overview of why your pension governance can benefit from an assumption review.
Then, contact us to let our experts help you take stock of your defined benefit plan, whether your organization is large or small.
With the assistance of our exclusive modelling tools—such as our leading-edge Mercer Mortality Model—we can help you refine your DB plan assumptions.
Doing so can result in a range of benefits:
Satisfying your fiduciary responsibilities
Potentially reducing costs
Avoiding surprises and unexpected cost increases
Yielding workforce management insights and other opportunities
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