Case Study: Leading Global Corporation achieves $700M pension liability reduction and 100% retiree liability settlement with TELUS Health

Leading Global Corporation - Customer Case Study

Morneau Shepell helped a global corporation with about 2,500 Canadian employees that wanted to reduce pension risk on its financial statements at little to no cost. The challenge was to lower reported pension liabilities and ongoing plan risk without disrupting retirees or the company’s operations.

We recommended and executed a large annuity purchase for all retirees and beneficiaries, coordinated across HR, legal, funding, accounting, investment and administration, and revised the plan’s asset mix. The transaction settled 100% of retirees’ liabilities, removed more than $700M of pension liabilities from the balance sheet, delivered about $25M in solvency savings, and materially reduced ongoing risks and costs.