OAS – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 26 Apr 2024 20:02:31 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2023 DC Investment Forum: How longevity risk pooling can help DC plan members meet their retirement income needs https://www.benefitscanada.com/events/conference-coverage/2023-dc-investment-forum-how-longevity-risk-pooling-can-help-dc-plan-members-meet-their-retirement-income-needs/ Mon, 06 Nov 2023 12:55:57 +0000 https://www.benefitscanada.com/?p=146062 Larry, a hypothetical defined contribution plan member, is facing a difficult calculus as he prepares to retire. Between his personal and DC plan savings, he’s accumulated $620,000 in savings for his retirement and is also expecting roughly $1,000 a month from the Canada Pension Plan and $650 in old-age security benefits. He has to determine […]

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]]> Changes to tax rules can improve Canadians’ retirement security: report https://www.benefitscanada.com/pensions/governance-law/changes-to-tax-rules-can-improve-canadians-retirement-security-report/ Fri, 23 Jun 2023 13:00:17 +0000 https://www.benefitscanada.com/?p=140231 Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]

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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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]]> 2023 DC Plan Summit: Tips for getting more retirement income with less risk https://www.benefitscanada.com/events/conference-coverage/2023-dc-plan-summit-tips-for-getting-more-retirement-income-with-less-risk/ Fri, 12 May 2023 12:44:42 +0000 https://www.benefitscanada.com/?p=137549 Even though it sounds obvious, maximizing retirement income and making it last for life isn’t what drives most retirees when it comes to making decisions — which is contributing to the challenges around decumulation, said Fred Vettese, an author and pension expert, during Benefits Canada‘s 2023 Defined Contribution Plan Summit. “The hurdles we have to […]

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]]> Millennial renters need to save 50% more than homeowners to retire: report https://www.benefitscanada.com/pensions/retirement/millennial-renters-need-to-save-50-more-than-homeowners-to-retire-report/ Fri, 14 Apr 2023 13:00:41 +0000 https://www.benefitscanada.com/?p=136582 Millennial workers who rent for their entire careers must save 50 per cent more than homeowners in order to have a sufficient monthly income in retirement, according to a new report by Mercer Canada. The report, which analyzed findings from Mercer’s database, found millennials who rent need to save eight-times their annual salaries to retire […]

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]]> How is rising inflation impacting retirement savings? https://www.benefitscanada.com/archives_/benefits-canada-archive/how-is-rising-inflation-impacting-retirement-savings/ Fri, 17 Mar 2023 12:57:57 +0000 https://www.benefitscanada.com/?p=135032 After reaching a near 40-year high over the past year, headline inflation started to cool in the final months of 2022 following a series of aggressive interest rate hikes by the Bank of Canada. According to Statistics Canada, the consumer price index was up 6.3 per cent year over year in December, down from a […]

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]]> High inflation supercharging decumulation challenges https://www.benefitscanada.com/archives_/benefits-canada-archive/high-inflation-supercharging-decumulation-challenges/ Fri, 10 Feb 2023 13:55:25 +0000 https://www.benefitscanada.com/?p=133378 Finance’s toughest problem just got a whole lot trickier, thanks to the quandary of inflation. Legendary economist William F. Sharpe sealed his place in history when he collected the 1990 Nobel Memorial Prize in Economic Sciences for his work on investment decision-making, but in defined contribution pension circles, the emeritus professor at Stanford University is […]

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]]> ACPM calling on feds, CAP sponsors to increase focus on decumulation https://www.benefitscanada.com/pensions/cap/acpm-calling-on-feds-cap-sponsors-to-increase-focus-on-decumulation/ Wed, 30 Nov 2022 20:00:52 +0000 https://www.benefitscanada.com/?p=130529 The Association of Canadian Pension Management is calling on the federal government and capital accumulation plan sponsors to support members’ financial wellness by focusing on decumulation. In a new white paper, the ACPM proposed the creation of a “retirement dashboard” that informs retirees of their available sources of retirement income — including government retirement benefits, […]

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]]> Report finds CAP member outcomes rising due to high annuity rates https://www.benefitscanada.com/pensions/cap/report-finds-cap-member-outcomes-rising-due-to-high-annuity-rates/ Tue, 15 Nov 2022 14:00:02 +0000 https://www.benefitscanada.com/?p=129752 Capital accumulation plan member outcomes saw modest increases in the third quarter, due to high annuity rates that shielded members from modest investment market declines, according to a new report by Eckler Ltd. It found a typical male member retiring at the end of September achieved a gross income replacement ratio of 60.3 per cent […]

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]]> Top 5 HR, benefits and pension stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-and-pension-stories-of-the-week-18/ Fri, 29 Jul 2022 13:00:43 +0000 https://www.benefitscanada.com/?p=124893 An article on Public Health Sudbury’s violation of the Ontario Human Rights Code following an employee’s termination over a vaccine refusal was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Arbitrator finds employer violated Ontario Human Rights Code for termination over vaccine refusal 2. More […]

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