Revisiting the DB Pension Plan Model Failure
While in Mont-Tremblant covering the CAIP Quebec & Atlantic conference , I had a fat finger incident and inadvertently deleted a very important post on corporate DB plans which I was able to recover and bolster with some additional comments from senior pension fund managers and expert actuaries (see update at the end). I recently critically reviewed an op-ed in the Globe and Mail written by Brent Simmons, Senior Managing Director & Head, Defined Benefit Solutions at Sun Life on why the DB pension plan business model has failed. Following that comment, I received some feedback from senior pension fund managers and Malcolm Hamilton, a retired actuary and one of the best actuaries in the country. Before I get to this, I was also contacted by Arif Sayeed who was told by Colin Carlton to reach out to me. Colin is a senior consultant at CPPIB and one of the smartest people I've met in the investment industry (a real thinker which is refreshing and unfortunately, very rare)...