While many people know the reward of a hard day’s work goes well beyond a salary, an increasing number of employees don’t understand the real value of the total rewards they receive from their employer. At the same time, employers are struggling to communicate the value of the benefits they offer. One way to improve […]
A pension dashboard that consolidates all of an individual’s pension and retirement information using pre-populated data would make it significantly easier for Canadians to access and understand their retirement savings, according to a new report by the C.D. Howe Institute. “Canada’s current retirement landscape offers numerous savings vehicles, giving individuals more choices than in the […]
The union representing 2,100 workers at DHL Express Canada sites across the country has ratified a new four-year agreement that includes pension and benefits gains. The agreement, which officially ends a nearly three-week lockout and strike by employees, includes an increased employer match in the defined contribution pension plan (from four per cent to 4.5 […]
The number of Canadians who are active members of a registered pension plan is increasing, according to a new report by Statistics Canada. It found between 2022 and 2023, overall pension plan membership grew by 4.2 per cent to more than 7.2 million members. During the same period, the number of women enrolled in registered […]
The implementation of variable payment life annuities in Quebec will support employee financial well-being and retirement readiness, while providing a model for other Canadian jurisdictions, says Louis-Bernard Désilets, an associate at Normandin Beaudry. “Currently, there’s approximately $1.5 trillion in retirement savings accumulated in [registered retirement savings plans] and [defined contribution] plans in Canada, with likely […]
Three years ago, I wrote an editorial for our inaugural DEI Issue heralding the overdue and rising attention that was being bestowed on diversity, equity and inclusion in the workplace — but in such a short period of time, the tide is already turning. The rhetoric demonizing DEI began to gain momentum after a ruling […]
It’s a generally recognized fact that institutional investors in the Nordic region pioneered the approach to sustainable investing, including incorporating environmental, social and governance factors. Sweden’s large public pension funds — AP1, AP2, AP3, AP4, AP6 and AP7 — are regulated by a law introduced in the early 2000s stipulating that sustainability needs to be […]
Defined contribution pension plan sponsors are navigating the demands of a strict asset allocation guideline in accordance with Islam by incorporating Sharia-compliant funds into their plans’ investment lineups. One reason is the increasingly diverse makeup of the Canadian workforce. According to Statistics Canada, the country’s Muslim population doubled between 2001 and 2021, from two per […]
A column by Hub International’s Ken MacDonald on his recent health-care journey was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Expert panel: From burnout to brain tumour and back 2. Amazon supporting new Canadians with legal benefits […]
Two-thirds (67 per cent) of Canadians say they’re very concerned about how Canada-U.S. relations, along with the cost of living (67 per cent) and general economic uncertainty (65 per cent), will impact their retirement savings, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled more than 2,000 Canadians, […]