Pensions – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Tue, 30 May 2023 13:57:54 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 ACPM urging Retraite Québec to increase flexibility in funding municipal, university DB pension plans https://www.benefitscanada.com/pensions/governance-law/acpm-urging-retraite-quebec-to-increase-flexibility-in-funding-municipal-university-db-pension-plans/ Mon, 29 May 2023 13:00:54 +0000 https://www.benefitscanada.com/?p=138909 The Association of Canadian Pension Management is urging Retraite Québec to provide additional flexibility in the funding of municipal and university defined benefit pension plans. In an open letter, the ACPM requested flexibility to fund up to 100 per cent of amortization payments from the reserve, noting this change would allow for better management of financial risks […]

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]]> More than half of U.S. women don’t feel financially secure: survey https://www.benefitscanada.com/pensions/retirement/more-than-half-of-u-s-women-dont-feel-financially-secure-survey/ Mon, 29 May 2023 13:00:35 +0000 https://www.benefitscanada.com/?p=138918 More than half of U.S. women say they aren’t financially secure, a percentage that increases to 77 per cent among low-income women, according to a survey by Public Opinion Strategies and Lake Research Partners on behalf of the National Council on Aging and the Women’s Institute for a Secure Retirement. The survey, which polled more […]

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]]> Equitable Bank’s 2022 Workplace Benefits Awards’ win empowering employees to improve financial wellness https://www.benefitscanada.com/benefits/health-wellness/equitable-banks-2022-workplace-benefits-awards-win-empowering-employees-to-improve-financial-wellness/ Fri, 26 May 2023 13:00:28 +0000 https://www.benefitscanada.com/?p=138799 Equitable Bank’s 2022 Workplace Benefits Awards win is empowering employees to ask for more financial wellness benefits and to recognize the full range of resources available to them, says Madison Dickson, the bank’s human resources coordinator. “The win enhanced our employee experience because more employees feel comfortable coming up to [our team] and saying, ‘I […]

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]]> 76% of Canadians expect to work longer than their parents to retire comfortably: survey https://www.benefitscanada.com/pensions/retirement/76-of-canadians-expect-to-work-longer-than-their-parents-to-retire-comfortably-survey/ Fri, 26 May 2023 13:00:21 +0000 https://www.benefitscanada.com/?p=138828 Three-quarters (76 per cent) of Canadians say they’ll need to work longer than their parents to become financially secure in retirement, a percentage that increases among millennials (85 per cent) and generation X (84 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,000 employees, found 82 per […]

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]]> Cyber attack compromises U.K. pension plan members’ personal information https://www.benefitscanada.com/pensions/defined-benefit-pensions/cyber-attack-compromises-u-k-pension-plan-members-personal-information/ Thu, 25 May 2023 16:30:03 +0000 https://www.benefitscanada.com/?p=138787 The largest administrator of private defined benefit and defined contribution pension plans in the U.K. is revealing details about a cyber attack that compromised the personal information of 470,000 of its members. In a press release, the £82.2-billion Universities Superannuation Scheme said its members’ data was held by external servers that were infiltrated by cyber […]

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]]> 27% of U.S. workers reporting high levels of financial stress: report https://www.benefitscanada.com/benefits/health-wellness/27-of-u-s-workers-reporting-high-levels-of-financial-stress-report/ Wed, 24 May 2023 19:00:57 +0000 https://www.benefitscanada.com/?p=138713 More than a quarter (27 per cent) of U.S. workers say they have high or overwhelming levels of financial stress, up from 20 per cent in 2021, according to a new report by Financial Finesse. The report, which analyzed data from more than 34,000 workers who interacted with the consultancy’s financial wellness tools, found more […]

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]]> U.K.’s first target-benefit pension plan announces 11.3% COLA https://www.benefitscanada.com/news/cir-news-news/u-k-s-first-target-benefit-pension-plan-announces-11-3-cola/ Tue, 23 May 2023 17:30:14 +0000 https://www.benefitscanada.com/?p=138649 The U.K.’s first target-benefit pension plan is providing members with a cost-of-living adjustment that’s 1.2 per cent higher than the consumer price index. Members of the Royal Mail collective pension plan, which was launched in April, will receive a 11.3 per cent increase in their benefits payments. In target-benefit plans, increases are approved by plan […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-35/ Fri, 19 May 2023 13:00:33 +0000 https://www.benefitscanada.com/?p=138505 An article on how defined benefit pension plan sponsors can use a surplus was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: How DB pension plan sponsors can use surplus 2. Median solvency ratio of Ontario DB pensions rose to 115% in Q1 […]

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]]> Wells Fargo agrees to pay $1BN to public retirement plan members to settle class action lawsuit https://www.benefitscanada.com/canadian-investment-review/public-equities/wells-fargo-agrees-to-pay-1bn-to-public-retirement-plan-members-to-settle-class-action-lawsuit/ Thu, 18 May 2023 16:30:32 +0000 https://www.benefitscanada.com/?p=138471 Wells Fargo has agreed to a pay US$1 billion to settle a lawsuit filed by its two public sector pension plans who alleged the bank made misleading statements about its compliance with federal regulators after a fake account-opening scandal came to light in 2016. The class action lawsuit was filed on behalf of members of […]

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]]> Just 34% of U.S. SMEs offering retirement benefits: survey https://www.benefitscanada.com/pensions/retirement/just-34-of-u-s-smes-offering-retirement-benefits-survey/ Wed, 17 May 2023 13:00:26 +0000 https://www.benefitscanada.com/?p=138219 Just a third (34 per cent) of U.S. small- and medium-sized employers say they offer retirement benefits, according to a new survey by Fidelity Investments. The survey, which polled more than 500 SMEs, found that, among respondents that don’t offer a retirement plan, half (48 per cent) said they can’t afford to, while a fifth […]

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