Pension Plans in the Red

Financial Post: Most pension plans in the red, study says

This (old?) accountability study [PDF] says that "Auditor negligence is much more widespread than is reported in the Canadian media" (emphasis in original).

I wonder, referring to the Financial Post article, how much of the 'most pension plans' that have lost money in dollars compare to the pension fund dollars in total, rather than just number of pension funds. If most of the dollars-invested are losing money (or even if the proportion is significant), then alarm is waranted. But just saying that most pension funds lose money is not enough information to make a judgement.

And the reference to "losses in the hundreds of millions of dollars" is irrelevant. We need to compare that to the total amount the pension funds in question represent. Same as with the stock market: percentage increases/decreases are what's relevant here, not dollar-amounts.