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The most important asset in the world is people’s personal information because every piece of data that we provide to the internet through social media or through interactions with pension funds and online banking are valuable information sources, said Darace Rose, co-founder and chief technology officer at Oppos Inc., during the Canadian Investment Review’s 2022 […]

A new U.S. law that aims to strengthen retirement support for workers holds valuable lessons for Canada’s retirement system, says one pension consultant. The Secure 2.0 Act of 2022, which was signed into law in December, contains several provisions to enhance the U.S. retirement system and boost retirement savings, including a requirement for plan sponsors to […]

Retiree spending of public and private sector pension benefits generated US$1.3 trillion in total economic output in the U.S. in 2020, supporting nearly 6.8 million jobs during the onset of the coronavirus pandemic, according to a new report by the National Institute on Retirement Security. It also found $612.6 billion in pension benefits were paid […]

  • By: Staff
  • January 9, 2023 January 6, 2023
  • 09:00

Just 35 per cent of Canadians aged 50 and older report they’re in a position to financially afford to retire, while a slightly larger percentage (37 per cent) say they aren’t and 25 per cent say it’s unclear, according to a new survey by the National Institute on Ageing and the Environics Institute for Survey Research. […]

  • By: Staff
  • December 21, 2022 December 20, 2022
  • 09:00

Defined contribution pension plan members nearing retirement may need their employers’ help to achieve financial security during an era of low interest rates and increased inflation, according to a new report by the U.S.-based Defined Contribution Institutional Investment Association. It found target-date funds are the dominant investment strategy in most DC plans, used by 80 […]

  • By: Staff
  • December 7, 2022 December 6, 2022
  • 09:00

The FIRE concept — financial independence and retiring early — is gaining traction among younger workers, but as appealing as early retirement may be, it isn’t very realistic given the current economic conditions, according to experts. Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University, notes the population […]

  • By: Sadie Janes
  • November 18, 2022 November 18, 2022
  • 09:01

Nearly two-thirds (62 per cent) of Canadian pre-retirees say the rising cost of living is preventing them from retiring when they’d like to, up from 56 per cent in 2021, according to a new survey by Fidelity Canada. The survey, which polled more than 1,900 Canadians aged 45 and older, found 55 per cent said […]

  • By: Staff
  • November 17, 2022 November 16, 2022
  • 09:00

When it comes to educating women about retirement and their finances, the needle hasn’t moved enough in the past few decades because the language being used by the industry isn’t connecting to what’s really going on, said Jenine Garrelick, senior managing director at MFS Fund Distributors Inc., during a session at Benefits Canada‘s 2022 DC […]

While many organizations have launched a sustainability strategy, Sun Life Financial Inc.’s strategy is anchored in three fundamental principles: financial security, sustainable investing and living healthier lives, according to Eric Monteiro, the insurer’s senior vice-president in group retirement, during a panel discussion at Benefits Canada‘s 2022 DC Plan Summit. Three-quarters (78 per cent) of pension […]

While old-age security has permanently increased by 10 per cent for seniors aged 75 and older, employees can maximize this benefit, along with their Canada Pension Plan benefit, by delaying retirement as long as possible, says Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University. “People need […]