Pension crisis here to stay?

The pension crisis in Canada will continue beyond the next few years according to HR executives and CFOs
By
|hrreporter.com|Last Updated: 05/12/2006

The pension crisis is widespread and likely to remain an issue for more than just a few years, according to a new survey.

The survey of 187 organizations by the Conference Board of Canada and Watson Wyatt Worldwide, found that 67 per cent of HR executives and 61 per cent of CFOs believe the pension crisis is here to stay, while only 19 per cent of CFOs think the crisis is unlikely to become permanent.

“CFOs are increasingly coming to the realization that the pension deficits of recent years have not yet turned around and they are less optimistic that plans will rebound any time soon,” said Gilles Rheaume, vice-president of policy, business and society for the Conference Board of Canada.