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With current market conditions and a low interest rate
environment creating sustainability-related concerns for sponsors
of defined benefit ( DB ) pension plans, the de-risking of pension plans has been top of mind for
many pension plan sponsors. For public sector pension plans
sponsored by a single employer (and other prescribed plans) in
Ontario, there is an opportunity to reduce cash flow and balance
sheet volatility in respect of DB pension liabilities through
converting into a jointly sponsored pension plan (a JSPP ).
This SEPP to JSPP conversion is the first of its kind in Canada,