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^ Has to be a private company and they, the employer, can make whatever changes they want to their pension plan (particularly a DB one) as they see fit (aka most cost effective to the point of penny-pinching) since they own and sponsors it. I.e. the employer doesn't care whether you, the employee, thinks it's a bad idea, not worth your while staying there or worry until you get warts working there.
 

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^ Has to be a private company and they, the employer, can make whatever changes they want to their pension plan (particularly a DB one) as they see fit (aka most cost effective to the point of penny-pinching) since they own and sponsors it. I.e. the employer doesn't care whether you, the employee, thinks it's a bad idea, not worth your while staying there or worry until you get warts working there.
Thank you.
For a not-for-profit company, has 2 plans, old plan has index, the new plan for someone got hired later days does not have index. With the current economy, I just hope the old plan will not be effected.
 

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Thank you.
For a not-for-profit company, has 2 plans, old plan has index, the new plan for someone got hired later days does not have index. With the current economy, I just hope the old plan will not be effected.
... since you're aware of this "change", then I presume you would have a plan document telling you so in which case you don't need to hope on this provisional grandfathering.

All changes to a pension plan has to go through the pension authority of which it has registered with (Provincial for private companies and not for profit I believe, Crown goes to the Fed).
 

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Yes the company was private non-union, and the changes were made just before a major downsizing. Existing retirees were grandfathered. Subsequently, they offered the option of converting to DC.
 

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On the topic of DB pensions, does anyone know what happens if a private company cannot afford to continue funding an IPP or the business is sold? (With the IPP being for a single member)
 

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The pension recipients get in line behind other creditors to settle for cents on the dollar. I think Nortel got 70 cents.
 
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