Many Canadians are interested in learning more about how to manage their money as they make the transition to retirement, according to a new survey by Mackenzie Investments. About half (47 per cent) of baby boomers said they want to know more about how to make the transition to retirement. This age group is slightly more […]
With the introduction of Bill 132 in the Ontario legislature last week, pension plan sponsors should be aware of a number of amendments coming to the Pension Benefits Act. If passed, the changes will affect sections of the act that cover electronic communications, missing plan members and the conversion of single-employer pensions into a jointly […]
Defined contribution plan sponsors are facing challenges that will shape the nature of their legal obligations to employees. Member communication is a key challenge, said Jon Marin, an associate in pension and benefits at Osler, Hoskin & Harcourt LLP, during Benefits Canada’s 2019 Defined Contribution Investment Forum in Toronto on Sept. 27. “In the vast […]
When it comes to engaging employees on matters of financial and personal wellness, it’s increasingly clear one size no longer fits all. In a roundtable in Toronto on Oct. 17, the 2019 Workplace Benefits Awards finalists focused their discussion on how to make sure their various programs and communication efforts were resonating with the multiple generations and […]
The merger of Torstar Corp.’s defined benefit pension plans into the Colleges of Applied Arts and Technology pension plan’s DBPlus has crossed the first hurdle with the Financial Services Regulatory Authority of Ontario. The FRSA has issued notices of an intended decision for the merger. By issuing these notices, it’s indicating an intention to consent to the plan mergers […]
According to Goodyear Canada Inc., pension communications don’t have to be boring — and it’s not afraid to use puns to make its employees pay attention. The company’s strategy, encompassing targeted messaging and creatively designed materials, netted it the award for pension communications at Benefits Canada‘s 2019 Workplace Benefits Awards on Oct. 17. Goodyear Canada […]
Benefits Canada recognized winners across seven categories at the 2019 Workplace Benefits Awards on Thursday. At a luncheon and awards ceremony at the Arcadian Loft in Toronto, more than 100 leaders in the benefits, pension and investment industries gathered to see awards presented to Canadian employers that are proactively and passionately making a difference in their employees’ financial, […]
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 […]
Imagine a scenario where an employee can’t afford to opt into their company’s defined contribution pension plan because of debt. Regardless of whether it’s a mortgage, student loan or credit card debt, the employee has more urgent short-term priorities, so saving for retirement is being pushed to the back-burner. How can employers ensure they’re talking […]
The Ontario Medical Association is partnering with Common Wealth to offer its physician members and their spouses access to a retirement plan. The Advantages Retirement Plan, which will be rolled out later this year, is the result of more than two years of research on physician retirement readiness and input from OMA members. A survey conduced […]