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Alcoa entering $1BN annuity transfer for U.S. DB pensions

Alcoa Corp. is de-risking roughly US$1 billion in U.S. defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be…

Furloughed WestJet workers demand clarity on wage subsidy program amid pay cut

WestJet, Unifor agreement includes retirement gains, sick days

The union representing nearly 800 employees at Calgary and Vancouver airports has ratified a first contract that includes retirement and benefits gains. The contract cements…

Sun Life selling U.K. pension and annuities business

Sun Life Financial Inc. is selling its U.K. pension and annuities business. The company has entered an agreement to sell SLF of Canada U.K. Ltd.…

  • By: Staff
  • August 5, 2022 August 5, 2022
  • 09:00
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Trader Joe’s employees form union, citing concerns about health benefits, pay

On Thursday, employees at a Trader Joe’s supermarket in Massachusetts became the latest workers at a major company to approve a labour union. The store…

Top 5 HR, benefits and pension stories of the week

An article on Public Health Sudbury’s violation of the Ontario Human Rights Code following an employee’s termination over a vaccine refusal was the most-read story…

  • By: Staff
  • July 29, 2022 July 29, 2022
  • 09:00
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Rejected by courts, U.S. retirees take last shot to save pensions

Dave Muffley thought he had it made when it came to a solid retirement. The Indiana man spent roughly 30 years as a salaried maintenance…

OAS increase an opportunity for employees to consider delaying retirement: expert

While old-age security has permanently increased by 10 per cent for seniors aged 75 and older, employees can maximize this benefit, along with their Canada…

81% of U.S. employees concerned about retirement readiness amid inflation: survey

Eight in 10 (81 per cent) U.S. employees with an employer-sponsored retirement savings plan say they’re concerned about inflation impacting their retirement, according to a…

  • By: Staff
  • July 27, 2022 July 26, 2022
  • 09:00
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More than 6.6M Canadians participating in employer-sponsored pension plans: StatsCan

The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019,…

  • By: Staff
  • July 20, 2022 July 21, 2022
  • 09:00

Unifor workers at eight Ontario casinos ready to strike over pensions, benefits

Roughly 2,000 Unifor members at eight Ontario casinos have voted to strike if new pension and benefits agreements can’t be negotiated by midnight on July 22.…

  • By: Staff
  • July 18, 2022 July 18, 2022
  • 15:00

Hilton, Unifor agreement includes retirement, benefits enhancements

The union representing 60 employees at the Hilton Garden Inn in Ajax, Ont. has ratified a three-year agreement that includes retirement and benefits gains. The…

  • By: Staff
  • July 18, 2022 July 15, 2022
  • 09:00
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Top 5 HR, benefits and pension stories of the week

An expert panel about the impact of environmental, social and governance-focused target-date funds on capital accumulation plans was the most-read story on BenefitsCanada.com over the…

  • By: Staff
  • July 15, 2022 July 15, 2022
  • 09:00

58% of Canadian pre-retirees contributing to retirement savings: survey

While more than half (58 per cent) of employees within 10 years of retirement are contributing to retirement savings, only about a third (30 per…

  • By: Staff
  • July 12, 2022 July 11, 2022
  • 09:00
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Biden’s Ohio visit spotlights effort to rescue troubled MEPPs

Reassuring frustrated blue-collar voters, U.S. President Joe Biden on Wednesday visited Ohio iron workers to highlight federal action to shore up troubled pension funding for…

Quebec paramedics striking for lower DB pension plan retirement age, equitable pay

Paramedics from 40 ambulance services across Quebec are striking to lower the required retirement age for their defined benefit pension plan and for pay equity…

  • By: Staff
  • July 7, 2022 July 6, 2022
  • 09:00
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Pensions, retirement security at heart of Timberland Equipment strike

More than 50 workers are on strike at Timberland Equipment Ltd. in Woodstock, Ont., after the company and the union failed to reach an agreement…

  • By: Staff
  • July 6, 2022 July 5, 2022
  • 09:00
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Survey finds half of young U.S. employees withdrawing early from retirement savings

Half (49 per cent) of U.S. employees younger than age 34 are withdrawing early from an individual retirement account or 401(k), according to a new…

  • By: Staff
  • July 5, 2022 July 4, 2022
  • 09:00
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French election results scuttle Macron’s hopes for pension reform

French president Emmanuel Macron’s efforts to reform his country’s pension system have been set back by the results of divisive national elections. During his campaign…

More U.S., U.K. employers offering new childcare programs, subsidies amid pandemic: survey

Two-fifths (40 per cent) of U.S. employees and one in five U.K. workers say their employer has introduced new childcare programs or subsidies over the past…

  • By: Staff
  • June 27, 2022 June 27, 2022
  • 15:00
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Ontario court awards $210K in costs against FSRA in Brewers Retail pension case

An Ontario Superior Court judge is awarding Brewers Retail Inc. $210,000 in costs against the Financial Services Regulatory Authority of Ontario. Justice Ed Morgan’s award…

75% of Canadian employees believe there’s an emerging retirement crisis: survey

Two-thirds (66 per cent) of employees are willing to take a job with a lower salary and a pension plan than one with a higher…

  • By: Staff
  • June 24, 2022 June 24, 2022
  • 09:00
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Report finds U.S. DC plan members continuing contributions in Q1, despite market upheaval

Just 0.9 per cent of 35 million U.S. defined contribution pension plan members ceased making contributions during the first quarter of 2022, according to a…

  • By: Staff
  • June 22, 2022 June 23, 2022
  • 15:00
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Stelco entering $1.3BN annuity buy-in for DB pension

Stelco Inc. is de-risking one of its defined benefit pension plans with a $1.3 billion annuity buy-in. The deal, which covers more than 7,000 United…

  • By: Staff
  • June 20, 2022 June 23, 2022
  • 09:00

2022 BPS coverage: Plan sponsors should be bold with benefits plan design amid ‘Great Resignation’

The ‘Great Resignation’ is ushering in a period of great transformation for employers, the workforce and the workplace of the future, said Charmaine Alexander, senior…