Keyword: defined contribution pension plans

68 results found

The Association of Canadian Pension Management is calling on Prince Edward Island’s pension regulator to amend the Employment Standards Act to facilitate auto-enrolment and auto-escalation features in workplace pension and savings plans. The current legislation includes language that would prohibit pension plan administrators from introducing automatic features in workplace plans, including capital accumulation plans such […]

  • By: Staff
  • March 22, 2022 March 21, 2022
  • 09:00

Almost two-thirds (62 per cent) of U.S. defined benefit plan sponsors are seeking to exit their plans, while 33 per cent are looking to achieve self-sufficiency and just five per cent are planning to keep their plans open, according to a survey by State Street Corp. Among DB plan sponsors eyeing an exit, the survey […]

  • By: Staff
  • March 11, 2022 March 11, 2022
  • 15:00
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Three-quarters (75 per cent) of defined contribution plan sponsors cite reviewing fees as the most important step they took to improve their fiduciary position in 2021, according to a new survey by U.S. investment consulting firm Callan. This was followed by examining the plan’s investment policy statement (63 per cent) and investment structure (61 per cent) […]

  • By: Staff
  • March 7, 2022 March 7, 2022
  • 15:00

A third (34 per cent) of U.S. retirees who took a lump sum from their defined contribution pension plan in retirement depleted that sum within an average of five years, according to a new survey by MetLife Inc. “There can be significant drawbacks for retirees when taking a lump sum,” said Melissa Moore, senior vice-president […]

  • By: Staff
  • March 3, 2022 February 28, 2022
  • 09:00

Nearly two years into the coronavirus pandemic and the uncertainties brought on by the Omicron variant, markets held up in the last three months of 2021 with capital accumulation plan member outcomes continuing to improve. According to Eckler Ltd.’s latest CAP income tracker, a typical male plan member retiring at age 65 at the end of […]

  • By: Staff
  • February 28, 2022 February 24, 2022
  • 15:00

Higher investment fees in capital accumulation plans can potentially set an individual’s retirement date back by four years, according to Mercer’s latest retirement readiness barometer. The analysis found a person paying the median retail fee (1.9 per cent) would be retirement ready at age 70. On the other hand, someone paying the median fee available […]

  • By: Staff
  • February 25, 2022 February 24, 2022
  • 09:00

A retirement community operator is allowing employees to access their pay at any time as part of a wider financial wellness strategy. In May, Seasons Retirement Communities is incorporating a new app into its payroll system, which allows employees to receive up to 50 per cent of their daily pay instantly. Jessica Poling, senior director […]

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 […]

The Saskatchewan Pension Plan is increasing its 2022 contribution limit to $7,000. Plan members can now qualify to save the tax on up to $7,000 in income from the previous year. In a press release, the multi-employer defined contribution pension plan sponsor said the limit increase makes it an increasingly attractive option for employers looking […]

  • By: Staff
  • February 10, 2022 February 10, 2022
  • 09:00

A thousand members of the Anglican Church of Canada’s defined contribution pension plan are joining the General Synod pension plan, effective Jan. 1, 2022. The Church-wide Lay employee pension system’s transition into the multi-employer pension plan is part of an expansion strategy to offer more Canadians better financial security in retirement, according to a press […]

  • By: Staff
  • February 10, 2022 February 9, 2022
  • 09:00