gender pension gap – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 13:26:01 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Survey finds just 44% of U.S workers reviewing retirement plan contributions during enrolment period https://www.benefitscanada.com/pensions/retirement/just-44-of-u-s-workers-reviewing-retirement-plan-contributions-during-enrolment-period-survey/ Mon, 13 Nov 2023 14:00:08 +0000 https://www.benefitscanada.com/?p=146974 While a majority (87 per cent) of U.S. employees believe it’s a good idea to review their workplace retirement savings plan during their company’s open enrolment period, just 44 per cent say they’ll review how much they contribute to their plan, according to a new survey released by Corebridge Financial Inc. The survey, which polled […]

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]]> Public DB pensions key to supporting women, BIPOC workers in retirement: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/public-db-pensions-key-to-supporting-women-bipoc-workers-in-retirement-report/ Mon, 18 Sep 2023 19:00:40 +0000 https://www.benefitscanada.com/?p=143602 Public defined benefit pension plans can play a critical role in delivering adequate retirement income for U.S. retirees, while providing a key buffer against economic hardship for women, the Black, Indigenous and people of colour communities and workers without a college degree, according to a new report by the National Institute on Retirement Security and […]

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]]> Head to head: Are employers making progress on the gender pay gap? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-are-employers-making-progress-on-the-gender-pay-gap/ Fri, 15 Sep 2023 12:59:35 +0000 https://www.benefitscanada.com/?p=143398 While Canada has had pay equity laws since the 1970s, gender pay gaps still exist, but new pay transparency legislation in British Columbia is aiming to make an impact. Paulette Senior, president and chief executive officer of the Canadian Women’s Foundation The pace of closing the gender pay gap is glacial. All kinds of reports […]

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]]> 34% of U.S. women don’t have an employer-sponsored retirement plan: survey https://www.benefitscanada.com/pensions/retirement/34-of-u-s-women-dont-have-an-employer-sponsored-retirement-plan-survey/ Thu, 14 Sep 2023 13:00:07 +0000 https://www.benefitscanada.com/?p=143381 A third (34 per cent) of U.S. women say they don’t have access to an employer-sponsored retirement plan, while a fifth (22 per cent) say they’ve emptied their employer-sponsored retirement account to meet non-retirement expenses, according to a new survey by software company Iralogix Inc. The survey, which polled more than 200 women, found nearly […]

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]]> 2023 Top 100 Pension Funds Report: How to improve retirement outcomes across diverse plan member groups https://www.benefitscanada.com/archives_/benefits-canada-archive/2023-top-100-pension-funds-report-how-to-improve-retirement-outcomes-across-diverse-plan-member-groups/ Fri, 23 Jun 2023 12:56:55 +0000 https://www.benefitscanada.com/?p=139798 At the beginning of April, the OPSEU Pension Trust made a change to a definition in its plan text that will have meaningful implications for plan members with disabled children who need to continue to rely on their parents into adulthood. The organization expanded the definition of a child eligible for survivor benefits to include […]

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]]> More than 20 U.K. pension organizations forming coalition to tackle pension inequalities https://www.benefitscanada.com/pensions/governance-law/more-than-20-u-k-pension-organizations-forming-coalition-to-tackle-pension-inequalities/ Mon, 05 Jun 2023 13:00:57 +0000 https://www.benefitscanada.com/?p=139330 More than 20 U.K. pension organizations are forming an industry coalition to tackle pension inequalities. The Pensions Equity Group aims to increase the number of people saving enough for their retirement and will call on pension plan sponsors to offer greater support to members. The coalition also seeks to develop a consistent way to measure pension […]

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]]> Median 401(k) balance 65% lower for women compared to men: survey https://www.benefitscanada.com/pensions/retirement/median-401k-balance-65-lower-for-women-compared-to-men-survey/ Thu, 23 Mar 2023 13:00:16 +0000 https://www.benefitscanada.com/?p=135549 The median 401(k) account balance for women is 65 per cent lower compared to men, according to a new survey by T. Rowe Price. The survey, which polled roughly 3,900 401(k) plan members and more than 1,100 retirees, found the median annual contribution for women was 43 per cent less than men. It also found women are […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-18/ Fri, 06 Jan 2023 14:00:45 +0000 https://www.benefitscanada.com/?p=132141 An article on the the latest investments by Canadian institutional investment organizations was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ontario Teachers’ backing auto insurance merger, pension plans leap on new BMO equity 2. 75% of employers expecting hiring challenges in 2023: survey 3. Expert […]

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]]> My Take: Employers can do more to shrink gender pay, pension gaps https://www.benefitscanada.com/news/bencan/my-take-employers-can-do-more-to-shrink-gender-pay-pension-gaps/ Tue, 03 Jan 2023 14:00:08 +0000 https://www.benefitscanada.com/?p=131618 Last October, Ontario’s pay equity office reported Canadian women received an average of 18 per cent less retirement income than men in 2020, which is three per cent higher than the gap observed in 1976, the earliest year for which data is available. How has progress moved backwards in the past 44 years, even though women are […]

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