The Pension Investments Association of Canada is calling on the British Columbia government to refrain from setting limits on the type of entities that can offer variable life benefits. In an open letter, the association said a competitive landscape that includes a broad scope of service providers, including registered pension plans, would be beneficial for retirees, noting […]
An article on how the federal government should ensure its new Canadian Dental Care Plan doesn’t displace existing employer-sponsored dental coverage was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Tax credit could ensure national dental-care plan doesn’t displace employer-sponsored coverage: expert […]
The Pension Investment Association of Canada will concentrate its legislative advocacy efforts on funding reform in 2024, including for an overhaul of long-term, minimum funding regulations for federally regulated defined benefit pension plans, said David Lawson, the PIAC’s new chair. In an emailed statement to Benefits Canada, he said as DB plan sponsors continue to face […]
More than half (53 per cent) of Canadian retirees say they’re receiving, or will receive, less than $50,000 in annual retirement income from their employer-sponsored pension plan, according to a survey by the Ontario Securities Commission. It found just 19 per cent of retirees with employer-sponsored pension plans said they expect to receive between $50,000 […]
While it’s impossible to predict exactly how pension case law will evolve in future, one can offer an educated guess at some legislative developments and other issues that may confront pension plan sponsors and administrators in the coming year. Risk management Plan sponsors can expect a continued focus on risk management as a key part […]
A story on mental-health themes and challenges for 2024 was the most-read story on BenefitsCanada.com this week. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Expert panel: Employers taking preventative, holistic approach to employee mental health in 2024 2. AI holds uncapped potential for pension plan sponsors’ administration, communications: […]
While there’s more work to be done before lifetime pension pools are widely implemented in North America, employers are increasingly aware of concepts such as variable payment life annuities, says Barbara Sanders, an associate professor at Simon Fraser University. “It seems that it’s being discussed fairly often. When in industry meetings, it’s certainly a very […]
With more than 40,000 employees across the country, Amazon Canada is a microcosm of the wider national workforce. Comprising five generations, the online retailer’s workers represent a wide spectrum of savings goals and related challenges. And to support these goals, it has developed a diverse array of options to meet staff at every stage of […]
While the majority (87 per cent) of defined contribution pension plan sponsors feel their members are somewhat or very prepared for retirement, only 63 per cent of members feel the same way, according to a new survey by Voya Investment Management. The survey, which polled 305 U.S. DC plan sponsors, 205 plan specialists and 500 […]
While the term decumulation may sound very technical and often leads to confusion among pension plan members, it’s actually quite simple — effectively, it’s the opposite of accumulation. These two terms make up the typical retirement savings journey — the accumulation phase is the working years when capital accumulation plan members put away their nest […]