The Association of Canadian Pension Management is calling on the federal government and capital accumulation plan sponsors to support members’ financial wellness by focusing on decumulation. In a new white paper, the ACPM proposed the creation of a “retirement dashboard” that informs retirees of their available sources of retirement income — including government retirement benefits, […]
Western University is marking Financial Literacy Month with a series of webinars and consultations addressing employees’ financial questions. The webinars cover topics such as retirement, estate planning, investments and the connection between health and wealth. While the university has covered the health-wealth connection in previous years, the topic is of perennial interest to employees and is […]
The Association of Canadian Pension Management is cautioning the Canadian Association of Pension Supervisory Authorities on its revisions to guidelines for capital accumulation plans. The draft guidelines could “change the balance of the existing guidelines in a manner that will give many employers pause about starting or continuing CAP plans that are not defined contribution […]
The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019, according to a new report from Statistics Canada. It found more than 4.4 million Canadians were covered by a defined benefit pension plan in 2020, up 1.7 per cent from 2019, noting the majority (72 […]
With the increased focus on integrating environmental, social and governance factors into pension plans, a new approach by BlackRock Inc. could have a significant impact on many Canadian defined contribution pension plans, group registered retirement savings plans and other types of workplace capital accumulation plans. The money manager recently announced it will be adopting an ESG approach […]
More than 50 workers are on strike at Timberland Equipment Ltd. in Woodstock, Ont., after the company and the union failed to reach an agreement regarding pension plans. According to a press release from the United Steelworkers, most workers are long-time employees who have a defined benefit pension plan, while a smaller group of more […]
Scotiabank is supporting its employees’ financial well-being with a week of information sessions in June. Ayman Alvi, director of global benefits at Scotiabank, says the sessions taking place the week of June 20 will focus on all aspects of financial well-being, including the bank’s pension plan and other financial benefits available to employees. “These events have […]
An article on how employers can create health benefits and retirement plans for gig workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: How employers can design health benefits, retirement plans for gig workers 2. Hitachi, Unifor agreement includes DB, DC pension […]
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 […]
An article on the potential future of pension plans in the private sector was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: Are private sector employers heading toward a pension renaissance? 2. A third of Canadian employees retiring sooner than planned: survey 3. Mental-health […]