More Canadian funds turn to DC

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CANADA - Canadian private pension funds have hit a "tipping point" with more than half converting defined benefit plans to defined contributions for current or future employees, a Towers Watson survey found.

This is up from 42% in 2008, the consulting firm said. Towers Watson surveyed 150 plan sponsors. "The financial crisis has caused a shift in plan sponsor attitudes," said Ian Markham Canadian retirement...

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