v3.26.1
Employee Benefits (Tables)
 6 Months Ended
Apr. 30, 2026
Employee Benefits [Abstract]  
Summary of Employee Benefit Plans Expenses
The following table summarizes expenses for
 
the Bank’s principal pension and non-pension post-retirement
 
defined benefit plans and the Bank’s other
 
material
defined benefit pension plans, for the
 
three and six months ended April 30,
 
2026 and April 30,
 
2025. Other employee defined benefit
 
plans operated by the Bank
and certain of its subsidiaries are not considered
 
material for disclosure purposes.
Defined Benefit Plan Expenses
(millions of Canadian dollars)
Principal post-retirement
 
Principal pension plans
benefit plan
Other pension plans
1
For the three months ended
April 30
April 30
April 30
April 30
April 30
April 30
2026
2025
2026
2025
2026
2025
Service cost – benefits earned
$
68
$
69
$
2
$
1
$
5
$
5
Net interest cost (income) on net defined
 
benefit liability (asset)
(11)
(13)
4
4
4
5
Past service cost
–
–
–
–
2
–
Defined benefit administrative expenses
3
2
–
–
1
2
Total
$
60
$
58
$
6
$
5
$
12
$
12
For the six months ended
April 30
April 30
April 30
April 30
April 30
April 30
2026
2025
2026
2025
2026
2025
Service cost – benefits earned
$
137
$
138
$
3
$
3
$
10
$
10
Net interest cost (income) on net defined
 
benefit liability (asset)
(23)
(25)
8
8
8
11
Past service cost
–
–
–
–
2
–
Defined benefit administrative expenses
5
5
–
–
3
3
Total
$
119
$
118
$
11
$
11
$
23
$
24
Includes Canada Trust defined benefit pension plan, TD Banknorth defined benefit pension
 
plan, TD Auto Finance defined benefit pension plan, TD Insurance defined benefit pension
plan, and supplemental executive defined benefit pension plans.
Summary of Expenses for Bank's Defined Contribution Plans
The following table summarizes expenses for
 
the Bank’s defined contribution plans for the three
 
and six months ended April 30, 2026 and
 
April 30, 2025.
Defined Contribution Plan Expenses
(millions of Canadian dollars)
For the three months ended
For the six months ended
April 30
April 30
April 30
April 30
2026
2025
2026
2025
Defined contribution pension plans
1
$
92
$
85
$
203
$
191
Government pension plans
2
156
140
386
360
Total
$
248
$
225
$
589
$
551
Includes defined contribution portion of the TD Pension Plan (Canada) and TD Bank, N.A. defined contribution 401(k)
 
plan.
2
 
Includes Canada Pension Plan, Quebec Pension Plan, and Social Security under the U.S.
Federal Insurance Contributions Act
.
Summary of Remeasurement of Defined Benefit Plans
The following table summarizes the remeasurements
 
recognized in OCI for the Bank’s principal pension
 
and post-retirement defined benefit plans
 
and certain of
the Bank’s other material defined benefit pension
 
plans, for the three and six months ended
 
April 30, 2026 and April
 
30, 2025.
Amounts Recognized in Other Comprehensive
 
Income for Remeasurement of Defined
 
Benefit Plans
1,2,3
(millions of Canadian dollars)
Principal post-retirement
Principal pension plans
benefit plan
Other pension plans
For the three months ended
April 30
April 30
April 30
April 30
April 30
April 30
2026
2025
2026
2025
2026
2025
Remeasurement gain/(loss) – financial
$
200
$
297
$
10
$
12
$
8
$
14
Remeasurement gain/(loss) – return on plan
 
assets less
interest income
(110)
(366)
–
–
–
–
Change in asset limitation and minimum
 
funding requirement
–
3
–
–
–
–
Total
$
90
$
(66)
$
10
$
12
$
8
$
14
For the six months ended
April 30
April 30
April 30
April 30
April 30
April 30
2026
2025
2026
2025
2026
2025
Remeasurement gain/(loss) – financial
$
435
$
158
$
18
$
5
$
7
$
4
Remeasurement gain/(loss) – return on plan
 
assets less
interest income
(421)
(184)
–
–
–
–
Change in asset limitation and minimum
 
funding requirement
–
–
–
–
–
–
Total
$
14
$
(26)
$
18
$
5
$
7
$
4
1
 
Excludes the Canada Trust defined benefit pension plan, TD Banknorth defined benefit
 
pension plan, TD Auto Finance defined benefit pension plan, TD Insurance defined benefit pension
plan, and other employee defined benefit plans operated by the Bank and certain of its subsidiaries not considered material for
 
disclosure purposes as these plans are not remeasured on
a quarterly basis.
 
2
 
Changes in discount rates and return on plan assets are reviewed and updated on a quarterly basis. All other assumptions
 
are updated annually.
3
 
Amounts are presented on a pre-tax basis.