BCE dials up 2013 contribution to Bell Canada pension plan
By Kevin Olsen | December 12, 2012 4:22 pm
BCE Inc., Montreal, will make a C$750 million (US$762 million) voluntary contribution to Bell Canada's defined benefit plan in 2013, confirmed spokesman Jean Charles Robillard.
The C$750 million is the same amount as the last two years and was made to help preserve the plan's funded status. The pension fund had C$16.4 billion in assets and C$17.5 billion in liabilities as of Dec. 31, 2011, for a funded status of 93.7%.
The voluntary contribution was made to derisk the pension fund and improve Bell's long-term financial flexibility, according to a news release.