With just about a month to go until the federal government’s long-awaited Canada Pension Plan enhancements kick in on Jan. 1, 2019, Scott Perkin is relaxed about the prospect. Although the changes have been billed as one of the biggest shakeups to the CPP since its introduction in the mid-1960s, Perkin, the director of pension […]
Currently in their 50s, 60s and 70s, baby boomers cover a wide age range — and their workplace pension plans are equally diverse. So determining what retirement looks like for this generation and helping them prepare is a significant challenge for employers. A good starting point is examining the pension world in which boomers currently […]
After consulting with more than 500 advisors, the Canadian Life and Health Insurance Association is making a number of changes to its G19 guideline pertaining to compensation disclosure in group benefits and group retirement services. The proposed guideline, which was introduced nearly a year ago, would require insurers to disclose to plan sponsors the compensation paid to intermediaries for […]
The Ontario government is moving forward with legislation around variable benefits from defined contribution plans, facilitating mergers into jointly sponsored pension plans and enabling the electronic designation of beneficiaries in pension plans. In its 2018 economic outlook and fiscal review, released on Thursday, the province said it will move forward with the change, which was […]
Unionized employees at the Globe and Mail could be on strike by midnight Wednesday over disputes with the newspaper around pensions, benefits and a gender wage gap. The 320 employees, who are members of Unifor Local 87-M, include reporters, editors, circulation, operations and advertising sales staff. They gave the bargaining committee a 94 per cent strike […]
It’s a constant challenge for employers to ensure their plan members understand and appreciate the pension and benefits programs available to them. It isn’t easy, but employers stand a better chance of success when the information is meaningful and relevant. The marketing and retail industries have been doing it for ages, to the point where personalization isn’t […]
Using a Canada-model pension plan, employees would see $5.32 in retirement income for every dollar they contribute compared to the typical $1.70 resulting from an individual approach, according to a new report by the Healthcare of Ontario Pension Plan. The report, The Value of a Good Pension, divides Canadian retirement options into five distinct types: an individual […]
The Canadian Association of Pension Supervisory Authorities has released a draft revision of its guideline No. 2, which looks at electronic communication in the pension industry. The guideline was initially set out in February 2002 to help pension plan administrators and members apply new electronic commerce legislation to communications required under pension legislation. In the CAPSA’s initial consultations to develop […]
These days, peace of mind is hard to come by, but the employers at the 2018 Workplace Benefits Awards roundtable centred their discussion around the many ways they can positively contribute towards their workforces’ mental, physical and financial health, particularly when it comes to absenteeism and improving return-to-work processes. “We know that if people are […]
Perseverance, communication and innovation are just a few of the words used to describe Jeff Aarssen. Aarsseen, the recently retired vice-president of group customer sales at Great-West Life Assurance Co., received the award for industry leadership at Benefits Canada’s 2018 Workplace Benefits Awards in Toronto on Oct. 11. “It’s very meaningful, personally,” says Aarssen. “It means that 38 […]