Among the 36 per cent of Canadian employers that say they’ve made changes to their initial 2024 salary budgets, more than half (56 per cent) decreased their budget, according to a new survey by Normandin Beaudry. The survey, which polled more than 400 employers, found the average Canadian salary increase budget for 2024 remained steady […]
While the vast majority (91 per cent) of Canadian workers say they’re saving for retirement, just 69 per cent are confident they’re saving enough, according to a survey by LIMRA. The survey, which polled more than 1,500 retirees and employees aged 40 to 85 years old with at least $100,000 in household investable assets, found fewer […]
An article on how the federal government should ensure its new Canadian Dental Care Plan doesn’t displace existing employer-sponsored dental coverage was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Tax credit could ensure national dental-care plan doesn’t displace employer-sponsored coverage: expert […]
The skyrocketing cost of living has created increased need for employees to receive additional financial well-being information to meet their retirement savings goals. It’s increasingly difficult for most Canadians to put aside any savings above their monthly expenses, thanks in large part to the squeeze from high inflation and the effects of increased interest rates […]
More than half (53 per cent) of Canadian retirees say they’re receiving, or will receive, less than $50,000 in annual retirement income from their employer-sponsored pension plan, according to a survey by the Ontario Securities Commission. It found just 19 per cent of retirees with employer-sponsored pension plans said they expect to receive between $50,000 […]
A recent development in the U.K. pension market to give British workers a ‘pot for life’ could reduce the quality of retirement plans that are already in place and create administrative challenges, says Adam Bexson, senior corporate pension consultant at Verlingue Ltd. Currently, plan members are automatically enrolled into a retirement plan chosen by their employer, […]
In a bid to improve working conditions for people who deliver food and offer rides through smartphone apps, the European Union gave provisional approval Wednesday to rules that determine who should get the benefits of full-time employees and restrict the way online platforms use algorithms to manage their workers. The European Parliament and the EU’s […]
A resurgence of defined benefit pension plans in Canada could be on the horizon, according to a report from the Colleges of Applied Arts and Technology pension plan. It found most Canadian workers are looking for retirement features that are most prominent in a DB plan, including monthly and predictable retirement income that’s guaranteed for […]
While the majority (87 per cent) of defined contribution pension plan sponsors feel their members are somewhat or very prepared for retirement, only 63 per cent of members feel the same way, according to a new survey by Voya Investment Management. The survey, which polled 305 U.S. DC plan sponsors, 205 plan specialists and 500 […]
As Ontario prepares to introduce pay transparency legislation, it’s important for employers to consider how much information they want to share in job postings, says Darcy Clark, a principal at Normandin Beaudry. “They could do just enough to meet the legislative requirements or . . . full disclosure where everybody knows everything. There’s also a […]