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As inflation hits a record high in Canada, employers are helping workers weather the storm through various benefits and compensation offerings, according to several experts. In October, the Canadian inflation rate increased year over year by a record 4.7 per cent, the largest increase since February 2003, according to Statistics Canada. The Bank of Canada […]

The Association of Canadian Pension Management is calling on Retraite Québec to review its draft amendment of a regulation governing supplemental pension plans. In a letter to the pension plan administrator, the ACPM said that a section of the amendment — stating that recovery measures in the event of insufficient contributions to a target-benefit pension […]

  • By: Staff
  • November 16, 2021 November 16, 2021
  • 15:00

With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]

  • By: Staff
  • November 16, 2021 November 15, 2021
  • 09:00
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More than 19 months into the coronavirus pandemic, employers are focusing on enhanced mental-health offerings and streamlined communications for their benefits and pension plans. During a virtual roundtable on Oct. 14, the 2021 Workplace Benefits Awards finalists discussed the changes brought about by the pandemic and how they’ve adapted their benefits and pensions offerings, while looking […]

Canadian Forest Products Ltd.’s ongoing support for employees’ savings and retirement goals resulted in a win in the Financial wellness category at Benefits Canada’s 2021 Workplace Benefits Awards on Oct. 14. Launched in September 2020, Canfor’s three-year financial education program was initially offered to 1,100 salaried employees in Canfor’s defined benefit and defined contribution pension […]

Scotiabank’s focus on making essential pension information more accessible to plan members was recognized at Benefits Canada’s 2021 Workplace Benefits Awards on Oct. 14. The bank won in the Pension plan communications category for its streamlined approach to pension statements. In 2020, Scotiabank restructured its defined benefit pension plan statement into two versions — a simplified four-page […]

While a re-elected Liberal government may introduce some measures to protect private pension plan members, it’s unlikely to pursue super-priority similar to what was proposed by the Conservative Party and the New Democratic Party on the federal election trail, according to a pension lawyer. “I think that there may be some measures to address the […]

  • By: Blake Wolfe
  • September 24, 2021 September 28, 2021
  • 09:00
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The Alberta Teachers’ Retirement Fund said its new agreement with the Alberta Investment Management Corp. is aligning the best interests of both organizations, following several months of negotiations. According to a press release from the Alberta Teachers’, the agreement ensures the teachers’ board maintains full control over the strategic investment policy for the pension plans’ […]

  • By: Staff
  • September 14, 2021 September 14, 2021
  • 12:00

At the end of 2020, a year of exceptionally volatile and unpredictable markets due to the coronavirus pandemic, the Colleges of Applied Arts and Technology pension plan was 119 per cent funded with $3.3 billion in funding reserves and its assets had grown to $15.8 billion from $13.5 billion on Jan. 1, 2020. “In the heart […]

The first strike at Vale Canada in more than a decade is drawing to a close after unionized workers at the Sudbury, Ont., mine ratified a collective agreement that includes improved pension and health benefits. Through the agreement — which expires May 31, 2026 — the monthly pre-age 65 defined benefit pension will increase by $50 to […]