In recent years, managing the stability of many Canadian pension plans has become increasingly difficult due to:
- Volatile investment returns with results below expectation;
- Longer life expectancies;
- Managing the priorities of the various stakeholders of the Plans;
- Communication of complex issues with the membership; and
- Membership that is worried about having benefit cuts when the economy is in recession.
The plans that we serve are complex and require us to provide customized and innovative approaches to risk management. They expect us to provide multi-level risk management solutions that go from plan design to asset-liability management with the objective of balancing benefit security, adequacy and affordability. Our consulting approach has enabled PBI to assist many of our clients navigate the turbulent economic climate of the past few years.
Defined benefit and target benefit pension plans require a different approach, and PBI has the expertise to provide that strategic direction.