defined contribution pension plan – Benefits Canada.com

Halifax Port ILA/HEA assessing past, future of DB pension plans

bmcgovern — Fri, 09 Feb 2024 13:55:44 +0000

While Blair Richards understands why the industry is moving away from defined benefit pension plans, he worries about what may be lost in the process. When Richards — the chief investment officer at the Halifax Port ILA/HEA pension plan — joined the institutional investor 40 years ago, DB plans were an attractive hiring and retention […]

The post Halifax Port ILA/HEA assessing past, future of DB pension plans appeared first on Benefits Canada.com.

Pension plan sponsors more vigilant of cybersecurity risks when dealing with third-party vendors: expert

bmcgovern — Thu, 11 Jan 2024 14:00:21 +0000

Data management and transference is a key area of risk for pension plan sponsors as the vulnerability of engaging with third parties creates opportunities for cybercriminals, says Jillian Kennedy, a partner at Mercer. According to an online brief published last year by Ernst & Young, third-party service providers hired by public pension plan sponsors tend to […]

The post Pension plan sponsors more vigilant of cybersecurity risks when dealing with third-party vendors: expert appeared first on Benefits Canada.com.

Getting to know Shannan Corey and the Saskatchewan Pension Plan

Sadie Janes — Fri, 15 Sep 2023 12:56:06 +0000

Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]

The post Getting to know Shannan Corey and the Saskatchewan Pension Plan appeared first on Benefits Canada.com.

Saskatchewan’s pension and benefits administrator transitioning to not-for-profit model

Sadie Janes — Mon, 12 Jun 2023 13:00:29 +0000

Saskatchewan’s Public Employees Benefits Agency is transitioning to a not-for-profit corporation. The PEBA began pursuing the transition in 2021 at the request of the trustees of the two largest pension plans it administers — the Public Employees Pension Plan and the Municipal Employees Pension Plan. The not-for-profit will begin operations on Jan. 1, 2024 under the […]

The post Saskatchewan’s pension and benefits administrator transitioning to not-for-profit model appeared first on Benefits Canada.com.

2023 DC Plan Summit: How PepsiCo Canada is making its savings plan more flexible

bwolfe — Fri, 12 May 2023 12:45:12 +0000

PepsiCo Canada’s enhanced defined contribution pension plan is supporting the retirement goals of a very diverse employee population. The company, which employs roughly 11,000 people across its food and beverage divisions, has a wide range of roles, from drivers and warehouse workers to sales employees. While the organization offers multiple pension plans, the majority of […]

The post 2023 DC Plan Summit: How PepsiCo Canada is making its savings plan more flexible appeared first on Benefits Canada.com.

Mosaic, Unifor agreement includes pension, paid leave gains

Sadie Janes — Tue, 28 Feb 2023 14:00:23 +0000

The union representing 750 mining workers at Mosaic Potash Esterhazy Ltd. in Esterhazy, Sask. has ratified a four-year collective agreement that includes pension and benefits gains. The agreement includes a .25 per cent increase in employer contributions to the company’s defined contribution pension plan, while members of the defined benefit pension plan will receive a monthly increase […]

The post Mosaic, Unifor agreement includes pension, paid leave gains appeared first on Benefits Canada.com.

2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year?

Sadie Janes — Fri, 16 Dec 2022 13:57:05 +0000

With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]

The post 2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year? appeared first on Benefits Canada.com.

Workplace pension plans rarely providing adequate retirement income for U.S. public employees: report

Sadie Janes — Tue, 13 Dec 2022 14:00:01 +0000

Workplace pension plans alone aren’t providing adequate retirement income for U.S. government employees, according to a new report by the National Institute on Retirement Security and Aon. It found U.S. state and local employees in a typical public defined benefit pension plan need to save roughly four to six per cent of their salary on their […]

The post Workplace pension plans rarely providing adequate retirement income for U.S. public employees: report appeared first on Benefits Canada.com.

DC plan members nearing retirement need employers’ help to achieve financial security: report

Sadie Janes — Wed, 07 Dec 2022 14:00:14 +0000

Defined contribution pension plan members nearing retirement may need their employers’ help to achieve financial security during an era of low interest rates and increased inflation, according to a new report by the U.S.-based Defined Contribution Institutional Investment Association. It found target-date funds are the dominant investment strategy in most DC plans, used by 80 […]

The post DC plan members nearing retirement need employers’ help to achieve financial security: report appeared first on Benefits Canada.com.

Survey finds fewer U.S. institutional investors incorporating ESG into investment decisions

Sadie Janes — Thu, 01 Dec 2022 14:00:41 +0000

Slightly more than a third (35 per cent) of U.S. institutional investors are incorporating environmental, social and governance factors into investment decisions, down from a high of 49 per cent in 2021, according to a new survey by investment consulting firm Callan. The survey, which polled more than 100 institutional investors, found 50 per cent […]

The post Survey finds fewer U.S. institutional investors incorporating ESG into investment decisions appeared first on Benefits Canada.com.