Does anyone have a reliable information if the Enbridge pension fund is fully funded?
What’s your back up plan in case this goes sideways?
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I keep a reliable fairly car at hand so I can become an Uber driver. As a VP at Gas Distribution that is all that my skill set will support if Enbridge doesn’t keep me.
The pension is currently fully funded
Log into MyRET and look at your annual statement, there's a blurb in there about the plan and it's funded status. As of Dec 2022, it had a transfer ratio of 1.21. Anything above 1.00 means it's fully funded, anything below 1.00 means we're in trouble. New statements come out in June I believe.
The last time I looked at it was over 6 years ago, and I can't remember the rats nest of documents I had to examine in order to figure out, but at that time the pension was healthy. "Fully funded"? To my knowledge, no pension fund is fully funded, because that implies that if everybody wanted to take their commuted value now, everybody could.
However, at the time (circa 2017) the pension was perfectly healthy, given natural attrition and the levels held at the time.
I don't want to retrace my deep dive since I left and I did, indeed, take my commuted value. So take it as you will. But there's no reason to think that the pension is in any difficulty.