pension contributions – 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 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-62/ Fri, 24 Nov 2023 14:00:15 +0000 https://www.benefitscanada.com/?p=147620 An article on the federal government’s 2023 fall economic statement was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Feds consider end of ‘30% rule’ for pensions, propose EI adoption benefit: fall economic statement 2. Former federal finance minister defends ‘sustainably successful’ CPP amid Alberta pension […]

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]]> ACPM reiterating support for automatic features in Ontario retirement savings plans https://www.benefitscanada.com/pensions/cap/acpm-reiterating-support-for-automatic-features-in-ontario-retirement-savings-plans/ Fri, 17 Nov 2023 14:00:56 +0000 https://www.benefitscanada.com/?p=147292 The Association of Canadian Pension Management is reiterating its support for fully enabling automatic features in retirement savings plans, including defined contribution pensions, group registered retirement savings plans and group tax-free savings accounts. In a letter to the Ontario government, the association said the province’s employers want to implement automatic features that reduce red tape […]

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]]> Contributions to B.C. pension plans increased by 10% in 2022: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/contributions-to-b-c-pension-plans-increased-by-10-in-2022-report/ Fri, 17 Nov 2023 14:00:33 +0000 https://www.benefitscanada.com/?p=147306 Contributions to British Columbia-based defined benefit and defined contribution pension plans increased by 10 per cent in 2022, while contributions to target-benefit plans increased by 9.4 per cent, according to the B.C. Financial Services Authority’s annual pensions report. The report, which analyzed data from more than 600 pension plans, found overall plan membership increased by […]

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]]> Third of DC plan sponsors don’t expect employees to use financial wellness programs: survey https://www.benefitscanada.com/pensions/cap/third-of-dc-plan-sponsors-dont-expect-employees-to-use-financial-wellness-programs-survey/ Thu, 16 Nov 2023 14:00:18 +0000 https://www.benefitscanada.com/?p=147158 About a third (32 per cent) of defined contribution pension plan sponsors that currently don’t use a financial wellness program say it’s because they don’t expect employees to take advantage of it, according to a new survey by Cerulli Associates. However, the survey also found financial wellness programs have grown to become a key component of […]

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]]> 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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]]> Survey finds 76% of U.S. employees concerned about ability to save for retirement https://www.benefitscanada.com/pensions/retirement/survey-finds-76-of-u-s-employees-concerned-about-ability-to-save-for-retirement/ Wed, 08 Nov 2023 20:00:54 +0000 https://www.benefitscanada.com/?p=146736 While more than three-quarters (79 per cent) of U.S. employees say they’re satisfied with their employer-sponsored pension plan, 76 per cent say they’re concerned about their capacity to save for retirement due to economic volatility, according to a new survey by Arthur J. Gallagher & Co. The survey, which polled more than 300 employees and […]

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]]> Canadian auto workers, GM reach tentative contract agreement, mirroring Ford deal https://www.benefitscanada.com/pensions/defined-benefit-pensions/canadian-auto-workers-gm-reach-tentative-contract-agreement-mirroring-ford-deal/ Wed, 11 Oct 2023 13:00:56 +0000 https://www.benefitscanada.com/?p=145082 General Motors and the union representing Canadian auto workers reached a tentative contract agreement Tuesday, ending a strike that began just after midnight. About 4,300 striking workers at two GM factories and a parts warehouse returned to work Tuesday afternoon and will vote on the three-year deal later. The tentative agreement with GM follows the pattern […]

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]]> Ford, Unifor agreement includes significant DC pension improvements, transition to DB plan https://www.benefitscanada.com/pensions/cap/ford-unifor-agreement-includes-significant-dc-pension-improvements-transition-to-db-plan/ Mon, 25 Sep 2023 13:00:50 +0000 https://www.benefitscanada.com/?p=143958 More than 5,600 Ford of Canada workers have voted in favour of ratifying a three-year collective agreement that includes improvements to the defined contribution and defined benefit pension plans. The agreement “fundamentally transforms pension plans,” said Lana Payne, Unifor national president, in a press release. Under the agreement, the DB plan’s basic monthly benefit rate […]

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]]> Nova Scotia Labour Board orders St. Mary’s University to resume pension contributions for plan members on LTD leave https://www.benefitscanada.com/pensions/governance-law/nova-scotia-labour-board-orders-st-marys-university-to-resume-pension-contributions-for-plan-members-on-ltd-leave/ Thu, 21 Sep 2023 13:00:42 +0000 https://www.benefitscanada.com/?p=143826 The Nova Scotia Labour Board has ordered St. Mary’s University to resume making pension contributions for employees on long-term disability leave, reasoning that the pension committee had no authority to make changes to contribution levels mandated by the plan. “The board found that amendments to the pension plan proposed by the pension committee — the […]

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]]> Majority of U.S. 401(k) plan sponsors making changes by end of year: survey https://www.benefitscanada.com/pensions/cap/majority-of-u-s-401k-plan-sponsors-making-changes-by-end-of-year-survey/ Wed, 30 Aug 2023 19:00:48 +0000 https://www.benefitscanada.com/?p=142723 The majority (95 per cent) of U.S. 401(k) plan sponsors say they intend to change their plan design by the end of the year, according to a new survey by Fidelity Institutional. The survey, which polled more than 1,300 employers, found a quarter said they plan to increase their matching contribution (26 per cent) and […]

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