TORONTO, July 2, 2024 /CNW/ -- Aon plc (NYSE: AON), a leading global professional services firm, announced today that the aggregate funded ratio for Canadian pension plans in the S&P/TSX Composite Index remains unchanged at 105.3 percent compared to the end of the first quarter, according to the Aon Pension Risk Tracker.

The Aon Pension Risk Tracker calculates the aggregate funded position on an accounting basis for companies in the S&P/TSX Composite Index with defined benefit plans. To access Aon's interactive tracker, which dates to 2013, click here. The tool allows plan sponsors to track their individual plan's funded status daily. Versions of the pension tracker are also available for the S&P 500 in the U.S. and for other indices in the UK.

Key findings for the quarter ending June 28, 2024 include:

• Pension assets gained 1.5 percent over the second quarter of 2024.
• The long-term Government of Canada bond yield increased 5 basis points (bps) relative to the previous quarter rate, and credit spreads narrowed by 4 bps. This combination resulted in mostly steady the interest rates used to value pension liabilities, increasing slightly from 4.65 percent to 4.66 percent.

"The second quarter of 2024 saw pension plans maintain their healthy funded positions," said Nathan LaPierre, partner, wealth solutions, Aon. "Markets have continued to provide time for plan sponsors to take action and de-risk in light of their funded positions."

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SOURCE Aon plc