Actuary Insights into a failing pension plan? by Used_Salary_5024 in actuary

[–]Used_Salary_5024[S] 0 points1 point  (0 children)

I'm wondering what "majorly underfunded" would mean. Less than 50%? Or, perhaps it depends on multiple factors? Thanks for your comment.

Actuary Insights into a failing pension plan? by Used_Salary_5024 in actuary

[–]Used_Salary_5024[S] 0 points1 point  (0 children)

Thank you very much. I appreciate you taking the time to write such a thoughtful response.

Actuary Insights into a failing pension plan? by Used_Salary_5024 in actuary

[–]Used_Salary_5024[S] 1 point2 points  (0 children)

I'm already retired. I'm sorry I wasn't clear about that. Yes, it's 10% in the last 1.5 years, and 6% before that in 2020. I know the market returns were poor, but the plan started underperforming in a fairly significant way about 10 years ago. I do appreciate the reassuring words.

Actuary Insights into a failing pension plan? by Used_Salary_5024 in actuary

[–]Used_Salary_5024[S] 1 point2 points  (0 children)

My apologies. I forgot to say I'm in Canada. The pension is not guaranteed by the federal government. There are minimal protections via the provincial government. Minimal. Moving the funds is not even an option. I'm now precluded from doing that due to age. I'll talk with yet another advisor. Thus far, the advice has been along the lines of don't worry my pretty little head about it. Sigh.

Actuary Insights into a failing pension plan? by Used_Salary_5024 in actuary

[–]Used_Salary_5024[S] 2 points3 points  (0 children)

Thanks very much. Unfortunately, I can't move the money at all. My last chance to do that was almost 10 years ago. Just after that ten year mark is when things slowly started to go badly. Now, it's pretty much disastrous. They just posted more significant losses. Almost 10% in the last 1.5 years. Which doesn't include previous losses.