Latest news in Retirement

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41% of U.S. employers including retirement benefits information in onboarding process: survey

Two-fifths (41 per cent) of U.S. employers say they embed information on retirement benefits in their onboarding process, according to a new survey by XpertHR.…

  • By: Staff
  • May 8, 2023 May 9, 2023
  • 09:00
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27% of U.S. DC pension plan sponsors say decumulation isn’t a topic of interest: survey

While a third (34 per cent) of U.S. defined contribution pension plan sponsors say they’re studying decumulation solutions and another 15 per cent are in…

  • By: Staff
  • May 3, 2023 May 3, 2023
  • 15:00

Fewer Black, Latino employees participating in U.S. workplace retirement plans: report

Just 53 per cent of Black employees and 45 per cent of Latino employees are participating in a U.S. workplace retirement plan, compared to 66…

  • By: Staff
  • May 1, 2023 April 28, 2023
  • 09:00
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Report finds higher member participation in 401(k) plans with auto-enrolment

U.S. 401(k) plans that feature automatic enrolment continue to yield higher plan member participation rates (86 per cent) than plans without auto-enrolment (37 per cent),…

  • By: Staff
  • April 26, 2023 April 26, 2023
  • 15:00
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Survey finds 58% of U.S. employees significantly worried about personal finances, the economy

More than half (58 per cent) of U.S. employees say they’re significantly worried about one or more aspects of their personal finances, including saving for…

  • By: Staff
  • April 25, 2023 April 24, 2023
  • 09:00

Survey finds half of U.S. workers want an employer-sponsored retirement plan that offers emergency savings features

More than half (54 per cent) of employees without a workplace retirement savings plan — including 77 per cent of millennials — say they’d participate in…

  • By: Staff
  • April 24, 2023 April 21, 2023
  • 09:00

71% of Canadian employees say mental health impacted their ability to work in the past year: survey

Nearly three-quarters (71 per cent) of Canadian employees feel their mental health has interfered with their ability to work in the past year, according to…

  • By: Staff
  • April 21, 2023 April 21, 2023
  • 15:00
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Alcoa entering $315 million annuity transfer for Canadian DB pensions

Alcoa Corp. is de-risking roughly $315 million (US$235 million) in Canadian defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts…

  • By: Staff
  • April 20, 2023 April 27, 2023
  • 09:00
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Changes to QPP allowing flexibility on pension contributions, retirement age: expert

Recent amendments to the Quebec Pension Plan to encourage people to work past age 65 offer more flexibility on contributions and retirement age, says Bonnie-Jeanne MacDonald,…

Mandatory RRIF drawdowns negatively impacting retirement savings: report

The rules governing registered retirement income funds and similar retirement vehicles are stuck in the past and need revamping or removal, according to a new…

  • By: Staff
  • April 18, 2023 April 17, 2023
  • 09:00
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Saskatchewan Pension Plan removing annual contribution, transfer-in limits

The Saskatchewan Pension Plan is removing its annual contribution and transfer-in limits. Starting on April 13, 2023, as long as plan members have room in…

  • By: Staff
  • April 17, 2023 April 17, 2023
  • 15:00
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Millennial renters need to save 50% more than homeowners to retire: report

Millennial workers who rent for their entire careers must save 50 per cent more than homeowners in order to have a sufficient monthly income in…

  • By: Staff
  • April 14, 2023 April 13, 2023
  • 09:00

Editorial: Can the industry move beyond the complexity of pensions?

What’s in a name? A pension by any other name would smell as sweet — or would it? I started writing this month’s Pension Feature…

Does the pension industry have a language problem?

Defined benefit. Defined contribution. Target benefit. Shared risk. Collective. Multi-employer. Pooled. Canada’s pension and retirement landscape is littered with lingo that can often be confusing…

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Survey finds U.S. pension plan sponsors increasingly interested in keeping retiree assets in plan

More than 54 per cent of 401(k) plan sponsors say they prefer to keep their retired members’ assets in their plan, a notable increase from…

  • By: Staff
  • April 13, 2023 April 12, 2023
  • 09:00
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Northern Transformer, Unifor agreement includes pension, benefits gains

The union representing 70 employees at Northern Transformer in Vaughan, Ont. has ratified a four-year collective agreement that includes pension and benefits gains. The agreement…

U.S. workers believe they need $1.1 million to retire comfortably: survey

While U.S. workers aged 45 and older believe it takes, on average, $1.1 million in savings to retire comfortably, just 21 per cent expect to…

  • By: Staff
  • April 10, 2023 April 10, 2023
  • 15:00
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Gallagher completes acquisition of Buck for US$660 million

Arthur J. Gallagher & Co. has completed its acquisition of BCHR Holdings — also known as Buck — for US$660 million. Through the agreement, Gallagher will expand…

  • By: Staff
  • April 4, 2023 April 4, 2023
  • 09:00
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Sounding Board: How employers can use benefits, DEI to draw gen Z workers to skilled trades

Even before the coronavirus pandemic, employers were predicting challenges around meeting the demands of unfilled roles in the skilled trades. For the last decade, the…

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Enhanced national dental plan to require reporting of employer-provided coverage: budget

In its 2023 budget on Tuesday, the federal government proposed roughly $13 billion over the next five years and $4.4 billion ongoing to fully implement…

  • By: Staff
  • March 29, 2023 March 29, 2023
  • 09:00

Gesco, Unifor agreement includes retirement, paid leave gains

The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains. The…

  • By: Staff
  • March 27, 2023 March 24, 2023
  • 09:00

Median 401(k) balance 65% lower for women compared to men: survey

The median 401(k) account balance for women is 65 per cent lower compared to men, according to a new survey by T. Rowe Price. The survey,…

  • By: Staff
  • March 23, 2023 March 22, 2023
  • 09:00

B.C. court dismisses appeal, upholds pension plan’s decision to increase retirement age

A British Columbia court has dismissed an appeal of a Supreme Court of B.C. decision that upheld the B.C. Credit Union Employers’ Pension Plan’s choice…

  • By: Staff
  • March 21, 2023 March 20, 2023
  • 09:00

How is rising inflation impacting retirement savings?

After reaching a near 40-year high over the past year, headline inflation started to cool in the final months of 2022 following a series of…