Artificial intelligence and blockchain are buzzwords in virtually every industry, but there are specific ways these technologies can make improvements in the pension world, according to Serge Boccassini, manager for defined contribution product solutions at Northern Trust. “How can it be used to help people save more for retirement [and] save better for retirement? And […]
In its 2019 budget on Tuesday, the federal government announced a number of proposals regarding pension protections, off the back of recent high-profile corporate bankruptcies that have thrown the sustainability of some Canadians’ defined benefit plans into doubt during the past few years. Indeed, the federal government received 4,400 submissions in response to its request for comment on the […]
While the pension industry is interested in environmental, social and governance factors, that isn’t translating into action when it comes to incorporating ESG funds into defined contribution plans’ investment options, according to a new report by Cerulli Associates. The report found, ESG-oriented investment options aren’t becoming too popular in the U.S. for three key reasons: fee […]
In 2017, New Jersey’s Police and Firemen’s Retirement System took a closer look at its investment in Nike Inc. following an advertising campaign featuring former National Football League player Colin Kaepernick, who had ignited controversy in 2016 by taking a knee during a pre-game national anthem in protest of the police treatment and killings of […]
The Canadian Association of Pension Supervisory Authorities has published an updated version of its guideline No. 8 for defined contribution plans, focusing on three main areas: the payout phase, plan sponsor/administrator responsibilities and advice. Introduced in March 2014, Guideline No. 8 aims to spell out the rights and responsibilities of DC plan administrators, providers and members. It […]
In a showdown between tax-free savings accounts and registered retirement savings plans, Canadians have a clear favourite: more than half said they prefer to put their money in a TFSA, according to a new survey by the Bank of Montreal (BMO). The problem is almost one-third (32 per cent) don’t know the difference between the two savings plans. Among millennials, […]
From banks to insurers to the federal government, retirement calculators are a regular feature of the financial planning landscape. At their most basic, they use data, such as age, income and current assets, to provide recommendations for how an individual can aim to meet their retirement goals. But can these tools truly provide a reliable […]
No risk, no reward. Like many things in life, investing inertia and fear are common, but they come with a cost. In the investment world, risk has a specific meaning: the probability of losses relative to the expected return on an investment. The key in this definition are the words ‘expected return.’ When it comes […]
The introduction of more flexible annuity options for capital accumulation plans and reform to prescription drug coverage are among the recommendations by the Canadian Life and Health Insurance Association for the 2019 federal budget. In a letter to the Ministry of Finance, the CLHIA highlighted the increasing need for Canadian retirees to convert some or all of […]
Despite market turmoil, Canadians are saving more in their registered retirement savings plans, led by strong growth among millennials, according to the Bank of Montreal’s annual RRSP study. Nationally, the average amount held in RRSPs is $101,155 — a 21 per cent increase from $83,635 in 2016. Millennials account for the greatest increase in amounts held, at 87 per cent […]