News & Updates
DB pension plans financially strong, with median solvency ratio reaching all-time high
September 25, 2023
Ontario's Financial Services Regulatory Authority (FSRA) reports that defined benefit pension plans in Ontario remain financially healthy.
According to its quarterly Q2 2023 Solvency Report, there were modest gains in the second quarter compared to the previous two. However, the median solvency ratio at the end of Q2 reached an all-time high at 116%.
Also, the annual 2022 DB Funding Report revealed that pension plan funding improved compared to 2021. In fact, 83% of plans were fully funded last year, compared to 76% in the previous year.
The FSRA also urges plan administrators to mitigate risks by developing strategies to manage potential issues.
Click the link to read more from the report:
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