With the federal government easing the withdrawal requirements for registered retirement income funds in a bid to alleviate the harm to retirees’ portfolios caused by the coronavirus-spurred market crash, the industry is suggesting similar measures for other retirement arrangements. “Canadians who are about to turn money into income will be faced with the decision of […]
La Presse is reducing all of its employees’ salaries by 10 per cent and temporarily lowering the employer’s contribution to the defined contribution pension plan. In a press release, the Quebec-based digital newspaper said this translates to an average 14 per cent pay cut for all employees, including its unionized workforce. “This extraordinary situation is […]
As U.S. employers look to keep their workers safe and healthy in the face of the global pandemic, they could see their health-care benefits costs jump by as much as seven per cent this year as a result of coronavirus-related testing and treatment, according to an actuarial analysis of self-funded employers by Willis Towers Watson. […]
The Bank of Canada cut its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement Friday. The central bank said its decision to lower rates is aimed at cushioning the economic shocks from COVID-19 and a sharp drop in oil prices by easing the cost of borrowing. […]
With the federal government easing the withdrawal requirements for registered retirement income funds in a bid to alleviate the harm to retirees’ portfolios caused by the coronavirus-spurred market crash, the industry is suggesting similar measures for other retirement arrangements. “Canadians who are about to turn money into income will be faced with the decision of […]
Employers that want to see their wellness programs pay dividends need to develop a strategy that’s rooted in behavioural science. “This idea of ticking a box on wellness is not working anymore,” said Cynthia Hastings-James, co-founder of BestLifeRewarded Innovations, during a webinar hosted by the Canadian Pension and Benefits Institute on Thursday. “It really needs […]
With the coronavirus pandemic rapidly evolving, the global employment landscape is facing unprecedented challenges. Looking at short-term disability programs, benefits plans, human resources policies and legal obligations, Benefits Canada hosted a panel of experts in a webinar on March 19 to answer plan sponsor questions. Click here to find out what you missed. For individuals […]
Quebec retirement complex developer Selection Group is giving its employees and residents free access to a virtual care app during the coronavirus crisis and for two months afterward. The service, through Telus Health, will be available to about 3,000 staff and about 15,000 residents. It will be gradually rolled out across the organization’s complexes over […]
Canadians, like many around the world, have watched from the sidelines as interest rates have plummeted and the markets have dropped significantly over the past couple of weeks, with a devastating toll on both personal retirement savings and employer-sponsored pension and other retirement savings plans. Existing industry concerns about the adequacy of retirement savings in […]
U.S. pension plan sponsors see a decent chance of a U.S. recession as a result of the spread of the coronavirus. Indeed, according to recent a poll by investment consulting firm NEPC, 79 per cent of plan sponsors said they think there’s a 50 per cent or greater chance of recession. And all respondents said […]