Keyword: Hybrid pension plans

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The Royal Mail Group Ltd. will soon make history in the United Kingdom by becoming the first employer to sponsor an entirely new type of pension plan, called a collective defined contribution scheme. Under the U.K.’s Pension Schemes Act 2021, which received royal assent in February, collective DC pensions will essentially be a hybrid of […]

Latest GM Canada, Unifor deal includes DB pension changes, benefits enhancements

The union representing General Motors of Canada Co. employees in Ontario has ratified a new agreement for workers at a plant in Ingersoll that removes changes to a legacy defined benefit plan as part of ongoing pension discussions. The deal, based on the recent three-year agreement with GM for workers in Oshawa, St. Catharines and Woodstock, […]

GM Canada, Unifor agreement covers DB pension changes

The union representing General Motors of Canada Co. employees in Ontario have ratified a new three-year collective agreement that removes changes to a legacy defined benefit plan as part of ongoing pension discussions. The deal restores the legacy DB plan by removing a member contribution requirement and a 30-year cap on credited service introduced in […]

2020 Top 50 DC Plans Report: Member behaviour under microscope amid pandemic

Defined contribution pensions are taking a bumpy ride in the coronavirus pandemic, with plan sponsors and their members facing volatile stock markets, financial uncertainty and interruptions to business as usual. Whether related to plan design, investment options, decumulation or overall financial well-being and education, what issues are taking the spotlight this year and what changes […]

VIA Rail, Unifor collective bargaining includes strengthening pension plan

Unifor locals representing Via Rail Canada Inc. employees have opened bargaining in Montreal as contracts are set to expire for more than 2,000 members. Members identified a number of key issues for contract negotiation, including a strengthened pension plan, according to a press release. The current collective agreements expire on Dec. 31, 2019. Read: Unifor […]

While defined contribution pension plans evolve and defined benefit plans decline, the McGill University pension plan is a true blend of both types — at least for some employees. When Sebastien Betermier, an associate professor of finance at the university’s Desautels Faculty of Management, joined the plan after 2009, a DC arrangement was available for […]

Women now make up half of registered pension members

The number of women in Canadian registered pension plans reached a record high of 3.2 million as of January 2018, bringing them up to 50.5 per cent of plan members, according to new data from Statistics Canada. It also found the number of Canadians in registered pension plans surpassed 6.3 million in 2017, increasing by 62,800 members, […]

  • By: Staff
  • June 19, 2019 November 30, 2020
  • 16:30
Private sector pension membership fell by 11,600 in 2015: Statistics Canada

Assets in registered pension plans were $1.7 trillion in 2015, a three per cent increase from 2014, according to new figures published by Statistics Canada. Larger pension plans with at least 30,000 members held more than half (55.2 per cent) of the assets. Of those larger plans, 32 account for half of all pension plan […]

  • By: Staff
  • July 24, 2017 September 13, 2019
  • 16:25
Sink or swim?

Pension plans are the topic du jour, even outside of HR circles. Funding challenges, retirement income adequacy, intergenerational equity and financial stability are only a few of the issues under discussion and in the media. But all talk and little action may be sounding the death knell for these programs. Unless pension plans can evolve relatively quickly to meet changing needs and circumstances, they face extinction.

DB, DC need similar qualities

DB and DC plans should be more similar, according to Jim Leech, Ontario Teachers’ Pension Plan president and CEO.