Strategic Surplus: Rethinking DB Plan Management 

After years of addressing deficits and funding gaps, many Canadian defined benefit (DB) pension plans now face a more positive challenge: managing a funding surplus. With strong market performance and structurally higher interest rates driving funding levels to multi-decade highs, plan sponsors have a rare opportunity to chart a new path. 

This white paper from TD Asset Management Inc. provides expert insights and a practical framework for transforming surplus assets into long-term strategic advantage. From maintaining benefit security to optimizing risk budgets, this guide equips sponsors with the tools needed to unlock value in today’s surplus environment. 

Key Takeaways from this white paper: 

• Why “not all surpluses are equal” — and how to evaluate yours in the proper actuarial and regulatory context 
• How to shift from traditional de-risking to a smarter “right-risking” approach 
• Ways to build a robust liability-hedging foundation to protect accrued benefits 
• Strategic options for using surplus: from cost savings and de-risking to benefit enhancements 
• How to design an investment strategy that aligns with your surplus objectives 
• Real-world examples of efficient surplus management delivering long-term value 

Turn your funding surplus into a strategic asset. 
Download the white paper today and start shaping the future of your DB plan.