The dispute over pension rights at Carleton University heated up this week as the Canadian Union of Public Employees called on the Financial Services Commission of Ontario to investigate a controversial amendment to the pension plan that dates back 15 years. The amendment, which permitted the elimination of a benefit guarantee feature for all service after July 1, […]
Ontario has published a description of its proposed regulations around the payment of variable benefits from defined contribution pension plans one year after announcing its intention to permit the option. The provincial government announced its plans in its 2017 budget. Once passed, Ontario will follow in the footsteps of other jurisdictions allowing the option, including British Columbia, Alberta, Manitoba, […]
The Co-operative Superannuation Society pension plan is one of Canada’s largest defined contribution plans, growing from its Saskatchewan roots in 1939 to include some 351 employers from across the country today. Martin McInnis, executive director of the plan, will speak about the benefits of a multi-employer defined contribution plan and whether they could be the way of the future during a session […]
Over the past 25 years, Canada’s retirement system has evolved significantly through new funding frameworks and federal and provincial reforms to facilitate innovation in plan design. And with Canadians living and working longer and investment returns predicted to soften, it’s no surprise the pension industry is calling for an update to the Income Tax Act […]
In order to understand how much to save, the starting point should be determining a retirement budget. Not only will such an exercise help employees better plan for the future, it may well give them a greater understanding of and appreciation for their employer-sponsored savings program and improve their financial wellness. More accurate retirement planning Even […]
Plan sponsors, their members and record keepers have divergent views about the top priorities when it comes to their defined contribution pensions, according to a new report by global consulting firm Cerulli Associates. The research, which collected data from surveys of American 401(k) plan sponsors, their members and record keepers, found 27 per cent of plan sponsor respondents cited […]
Providing a defined contribution pension to employees since 1969, Western University is in a unique position to share how the landscape for these plans has evolved over time and how its plan measures success. Louise Koza, the university’s director of total compensation, will discuss past and current issues facing defined contribution plans at a session during the 2018 Benefits and Pension Summit at […]
Net returns in defined benefit pension plans were higher than net returns in defined contribution plans by an average of 0.46 per cent annually over the last 10 years, according to new research by CEM Benchmarking Inc. That compares to the 1.8 per cent difference the last time the organization compared the performance, for the period […]
Ernst & Young has introduced an online retirement modelling tool to help employees prepare for life after work. Since its launch at the end of January, 25 per cent of the firm’s employees have logged in to register and use the tool, with about 55 per cent of that group under the age of 40. “I was pleasantly surprised. It’s […]
While 84 per cent of employers with capital accumulation plans didn’t intend to make any changes in 2017, many anticipated increasing their provision of financial advice services after a couple of years of decline in that area, according to a new report from Great-West Life Assurance Co. According to the 2017 Capital Accumulation Plan Benchmark report, very few […]