How Bill C-228’s protection of DB pension plans affects financial planning

The Globe and Mail
May 11, 2023.

Joelle Hall, wealth advisor, portfolio manager and investment advisor with Hall O’Brien Wealth Counsel at Richardson Wealth Ltd. in Ottawa, works with many clients who have public-sector defined-benefit plans, which are more secure than private sector plans simply because governments can, in theory, raise taxes to fund liabilities.

With private-sector DB plans, she keeps a very close eye on the funding ratio, especially as clients approach the cut-off age (usually 55) for commuting a pension.

“There are several factors that go into that commuting decision, but we’d certainly start with how well-funded the plan is, and with anything less than 90 per cent funded, I get a little nervous,” she says.

Ms. Hall worked with clients who had DB plans through Nortel Networks Corp., which filed for bankruptcy protection in January 2009.

*Globe Advisor subscription required.

Read more.

Related articles

2025

How advisors can adjust retirement and estate planning for DINK couples

July 7, 2025 - Diana Orlic discusses how dual-income, no-kids (DINK) clients can protect against lifestyle inflation by maximizing contributions to RRSPs and TFSAs and…

2 minute read

2025

Serving the suddenly high-net-worth

June 30, 2025 - When it comes to a sudden influx of wealth, Kathy McMillan explains that advisors must be prepared to listen, be patient…

2 minute read

2025

How one retiring advisor built a flexible, phased succession plan

June 30, 2025 - Nevin Chernick shares how he worked with the firm to create a succession plan without a rigid date while staying involved…

2 minute read