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Whether they’re delivering takeout, chauffeuring passengers, or fixing leaky sinks, most gig workers in Canada don’t get benefits. Classified as independent contractors rather than employees, they’re excluded from employer contributions to Canada Pension Plan and Employment Insurance, they may not be protected under worker’s compensation and they can’t participate in tax-advantaged benefits programs like registered […]

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The office of the chief actuary is seeking an external peer review panel for its next actuarial report on the Canada Pension Plan. The external peer review is intended to ensure the report — to be released in December 2022 — meets high professional standards and is based on reasonable methods and assumptions, according to […]

  • By: Staff
  • May 20, 2022 May 18, 2022
  • 09:00

A third (33 per cent) of recently retired Canadians said they retired sooner than they planned and 30 per cent of pre-retirees intend to change their retirement date because of the coronavirus pandemic, according to a new survey by RBC Insurance. It found Canadians are still largely relying on traditional retirement savings tools, such as […]

  • By: Staff
  • May 11, 2022 May 10, 2022
  • 09:00

Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]

Canadian Forest Products Ltd.’s new financial wellness program may have originated as the brainchild of its defined contribution pension plan committee, but it’s just as applicable to its defined benefit plan members — and the organization chose to roll it out for all employees. When you have broad financial wellness topics, it’s fine, but when […]

How the City of Toronto is continuing to support employee mental health in these uncertain times took the top spot over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. How the City of Toronto is supporting employee mental health in 2022 and beyond 2. Why CPP premiums are getting […]

  • By: Staff
  • January 7, 2022 January 7, 2022
  • 09:00

Jan. 1 felt like Groundhog Day for all employees and employers paying into the Canada Pension Plan. Like last year, contributions went up again by more than originally planned. The reason again lies with the unique impacts of the coronavirus pandemic on the labour market. The increase is part of a multi-year plan approved by provinces and […]

Managing and drawing down retirement savings is an “impossible task” with contributing factors including the trend away from workplace pension plans, historically low interest rates and high life expectancies. In the keynote address at Benefits Canada‘s 2021 DC Plan Summit, Bonnie-Jeanne MacDonald (pictured), director of financial security research at Ryerson University’s National Institute on Ageing, […]

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While the coronavirus pandemic has taken a heavy toll among the elderly, retirees have seen their pension payments and entitlements well protected in Canada and other member countries of the Organisation for Economic Co-operation and Development, according to a new report from the organization. The average retirement age in Canada is 63.9 years for men […]

  • By: Staff
  • December 15, 2021 December 14, 2021
  • 09:00
ACPM calling on feds to streamline pension overpayment recovery

The federal Liberal Party is following through on an election campaign promise by introducing legislation that would provide 10 paid sick days per year to employees in the federally regulated private sector. In a press release, the government said it will consult with federally regulated employers and workers toward the implementation of this legislation. Prime […]

  • By: Staff
  • November 30, 2021 November 30, 2021
  • 15:00