More than bad luck lies behind the plight of single-employer defined-benefit pension plans in Canada. Deals that purported to relieve employees of risk, while offering sponsors a powerful workforce-management tool and low current compensation costs, were attractive to the contracting parties--but key economic uncertainties and agency problems mean that these plans were not as good for participants and taxpayers. Pension-plans designers and policy-makers should foster new arrangements that will be more robust in the face of unexpected developments. Importantly, sponsors of plans in financial trouble should redirect their search for solutions from asset management to the human resource department.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 34 (2008) Issue (Month): s1 (November) Pages: 1-6 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:cpp:issued:v:34:y:2008:i:s1:p:1-6
Contact details of provider: Postal: University of Toronto Press Journals Division 5201 Dufferin Street Toronto, Ontario, Canada M3H 5T8 Email: Web page: http://economics.ca/cpp/