When it comes to investing member contributions, the Co-operators Group Ltd.’s defined contribution pension doesn’t look like many other Canadian plans. For one, it doesn’t use a platform approach to investing. Instead, much of its more than $1 billion in assets under management are part of a pre-constructed balanced fund with different target-risk levels with […]
Whether operating in Canada or the United States, defined contribution plan sponsors are facing the same challenges around demographics, plan design and their employees’ retirement readiness. On the demographics front, more baby boomers are retiring and taking their pension balances with them. As DC plans lose members, plan sponsors may see a rise in costs […]
Shaw Communications Inc.’s Kristina Humphreys talks financial well-being, plan flexibility and league hockey. Q. What top challenges do you face in your role? A. A big challenge is finding effective ways to communicate with our employees because it’s across many locations, demographics, different career points, etc. Also, retirement may feel very far away for a […]
While defined contribution plan members want to know they’ll have stable income through retirement with flexibility around accessing their funds, the Canadian market needs to evolve to include a broader range of retirement products to accommodate that. According to a Mercer survey of 1,000 Australians over the age of 55, DC plan members most want an […]
The number of women in Canadian registered pension plans reached a record high of 3.2 million as of January 2018, bringing them up to 50.5 per cent of plan members, according to new data from Statistics Canada. It also found the number of Canadians in registered pension plans surpassed 6.3 million in 2017, increasing by 62,800 members, […]
An expert panel on sustainable finance is advocating for the government to implement a number of recommendations, including some related to pension plans and individual retirement savings accounts. For defined contribution plans, other group pension programs and registered retirement savings plans, the report suggested offering tax-based financial incentives for people who invest in accredited climate-conscious […]
Many Canadians are looking forward to retiring someday, but with the rising cost of living and increasing life expectancy, many are also uncertain whether retirement will arrive anywhere near the age they expect. When employees are worried about funding retirement, they delay it. In turn, employers face mounting costs, either from pay differentials with younger replacement workers […]
The majority of small U.S. employers currently offer at least one health benefit to their employees, according to a new report by business research organization LIMRA. This is a rise of 11 percentage points compared to the last survey results in 2012. Much of these increases can be attributed to a stronger economy and record-low unemployment, noted […]
The federal government’s proposals around advanced life deferred annuities and variable payment life annuities represent significant enhancements in decumulation options for Canadian capital accumulation plan members, according to a letter from the Pension Investment Association of Canada. In the association’s feedback to the government, it encouraged the facilitation of the broadest potential access for Canadian savers in […]
While the Pension Investment Association of Canada is praising Ontario’s 2019 budget proposals, it’s also questioning how the provincial government is planning to implement them. In a letter to provincial Finance Minister Vic Fedeli, the association noted further clarification is needed around the introduction of variable benefits. “While we are pleased that 50 per cent unlocking will be available […]