Canada: Pension Crisis Deepens

According to the 3rd annual pension risk survey by The Conference Board of Canada and Watson Wyatt Worldwide, 61% of Chief Financial Officers (CFOs) say the pension crisis in Canada is widespread and likely to persist beyond the next few years. In addition, only 19% said the crisis is widespread but unlikely to become permanent--down from 23% in 2005 and 39% in 2004, and just 15% said the pension situation is isolated to relatively few organizations.

Source: News Release Conference Board of Canada (May 2, 2006)