The following News Release or Speech has just been posted on the Finance Canada Site. The Honourable Jim Flaherty, Minister of Finance, today released final regulations to provide temporary funding relief for federally regulated defined benefit pension plans. The measures cover defined benefit pension plans established for employees working in areas that fall under federal jurisdiction—about 10 per cent of all plans in Canada. In recent years, declining long-term interest rates, as well as changes to actuarial standards, have contributed to solvency deficits—the amount by which a plan’s liabilities exceed its assets. The regulations, announced in Budget 2006 and pre-published [More]