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Copyright_Romolo Tavani_123RF

Just 0.9 per cent of 35 million U.S. defined contribution pension plan members ceased making contributions during the first quarter of 2022, according to a report by the Investment Company Institute. While this percentage was slightly higher than in the first quarter of 2021 (0.8 per cent), it was a substantial drop from 2020 (1.4 […]

  • By: Staff
  • June 22, 2022 June 23, 2022
  • 15:00
Copyright_dmitrydemidovich_123RF

A ruling by the Supreme Court of British Columbia on the B.C. Credit Union Employers’ Pension Plan’s normal retirement date was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C. court upholds pension plan’s decision to increase retirement age 2. Ontario NDP platform includes dental […]

  • By: Staff
  • April 29, 2022 April 28, 2022
  • 09:00

The Supreme Court of British Columbia has upheld the B.C. Credit Union Employers’ Pension Plan’s decision to increase its normal retirement date to age 65 from age 62. The 2016 decision — which was made by trustees to maintain the plan’s financial viability — was being challenged by a group of plan members who alleged […]

  • By: Staff
  • April 26, 2022 April 25, 2022
  • 09:00

The economic impact of the pandemic has been unevenly distributed across various industries, with travel and transportation among the hardest-hit sectors. However, while travel restrictions and subsequent employee layoffs in these industries made headlines throughout 2020 and 2021, the pension plans provided by these employers have largely weathered any economic fallout. The impact on air […]

Copyright_Andrii Dragan_123RF

The vast majority of U.S. employers are eyeing enhancements to their defined contribution pension plans in an effort to boost their employees’ retirement security and financial well-being, according to a new survey by WTW. It found 75 per cent of DC plan sponsors made a change to their plans in the last two years and […]

  • By: Staff
  • April 12, 2022 April 11, 2022
  • 09:00
Copyright_roboriginal_123RF

Rio Tinto Group is making parental leave more accessible for employees by removing the distinction between primary and secondary caregivers. The policy change — which takes effect in Canada in June and will be implemented worldwide by the end of 2023 — provides all new parents with 18 weeks of 100 per cent paid parental […]

The average funded status for the largest U.S. defined benefit pension plans was 93.8 per cent in 2021, up from 86.2 per cent in 2020 and reaching the highest level in 15 years, according to a new report by Russell Investments Group. The report, which analyzed 19 publicly listed U.S. corporations with more than US$20 […]

  • By: Staff
  • March 10, 2022 March 9, 2022
  • 09:00

Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]

More than a third (38 per cent) of U.S. employees increased their 401(k) contributions by an average of three per cent in 2021, according to a new survey by Fidelity Investments Inc. By the end of 2021, 83 per cent of workers with a 401(k) received a contribution from their employer, with the average employer […]

  • By: Staff
  • February 22, 2022 February 22, 2022
  • 15:00

The Saskatchewan Pension Plan is increasing its 2022 contribution limit to $7,000. Plan members can now qualify to save the tax on up to $7,000 in income from the previous year. In a press release, the multi-employer defined contribution pension plan sponsor said the limit increase makes it an increasingly attractive option for employers looking […]

  • By: Staff
  • February 10, 2022 February 10, 2022
  • 09:00