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Two-thirds (66 per cent) of employees are willing to take a job with a lower salary and a pension plan than one with a higher salary and no pension, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 1,700 Canadian adults, found while employees close to retirement age […]

  • By: Staff
  • June 24, 2022 June 24, 2022
  • 09:00
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Just 0.9 per cent of 35 million U.S. defined contribution pension plan members ceased making contributions during the first quarter of 2022, according to a report by the Investment Company Institute. While this percentage was slightly higher than in the first quarter of 2021 (0.8 per cent), it was a substantial drop from 2020 (1.4 […]

  • By: Staff
  • June 22, 2022 June 23, 2022
  • 15:00

Retirees with defined benefit pension plans are less likely to draw down their savings to cover their spending than those with a defined contribution plan, according to a new report by the University of Michigan. It found while most employees born between 1920 and 1940 had access to a DB plan, this percentage dropped dramatically […]

  • By: Staff
  • May 31, 2022 May 30, 2022
  • 09:00

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 […]

  • By: Staff
  • May 13, 2022 May 13, 2022
  • 09:00
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While Canadians nearing retirement age have seen a doubling in the median value of both their assets and net worth since 1999, the prospect of a comfortable retirement remains out of reach for many employees, according to a new report by the C.D. Howe Institute. It found a quarter of Canadians aged 45 to 64 […]

  • By: Staff
  • May 11, 2022 May 11, 2022
  • 15:00

Pension coverage in the public sector is high, with the vast majority of public sector employees covered by a defined benefit pension plan. However, the story is very different in the private sector as pension coverage is much lower and is trending downwards. Only 22 per cent of private sector employees participated in a registered […]

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Almost two-thirds (61 per cent) of U.S. employees aged 25 to 35 have changed jobs in the last two years or are planning to make a move by 2024, according to a new survey by Fidelity Investments Inc. The survey, which polled 1,500 employees, found while salary was the most important factor to employees who […]

  • By: Staff
  • May 9, 2022 May 5, 2022
  • 09:00

The Defined Contribution Institutional Investment Association is calling on the U.S. government to develop flexible emergency savings solutions for employees. The Washington, D.C.-based organization is among 38 signatories calling for the creation of a national financial inclusion strategy. The strategy should reflect several key principles, including automatic enrolment in workplace emergency savings plans that are […]

  • By: Staff
  • May 6, 2022 May 6, 2022
  • 09:00
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The Pension Investment Association of Canada is urging the federal government to allow for tax-free mergers of maturing target-date funds. In a letter to the Department of Finance Canada, the PIAC said current tax rules don’t permit tax-free mergers of a target-date fund series into a terminal fund — where a target-date fund provider will […]

  • By: Staff
  • May 4, 2022 May 4, 2022
  • 09:00

Almost a third (29 per cent) of Canadians believe their employer-sponsored pension plan will be their primary source of retirement income, while 15 per cent said they’re relying on government pension plans, according to LifeWorks Inc.’s latest financial well-being index. The survey, which polled 3,000 Canadian employees, found the overall financial well-being score decreased slightly […]

  • By: Staff
  • April 29, 2022 April 28, 2022
  • 09:00