A pair of surveys on the state of Canadian workers’ mental health were among the most-read stories on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Survey finds 40% of Canadian gen Z employees at a mental-health ‘breaking point’ 2. Survey finds 40% of workers taking time off due […]
While a third of Canadians are very or extremely confident they’ll be able to retire at the age they want to, around 40 per cent are somewhat confident and a fifth say they don’t think they’ll be able to retire at all, according to MFS Investment Management’s 2022 global retirement survey. “Those stats for the […]
A typical Canadian defined benefit pension plan’s funded position improved on a solvency basis and decreased on an accounting basis in April as a result of the strong performance of domestic equities and decreases in bond yields, according to a new report by Telus Health. During the month, the solvency of the typical Canadian DB […]
In December 2022, the Supreme Court of Justice of Colombia released an unexpected decision: two men, who had been in a polyamorous relationship with a third man for more than a decade, were entitled to the latter’s survivor pension benefits. The pension plan had originally denied the partners’ application for survivor benefits and had sought […]
An article on Bill C-228 receiving royal assent was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Controversial super-priority pension bill receives royal assent 2. PSAC, government tentative agreement includes new protections around remote work, wage increases 3. FHSA may work best in conjunction with group […]
A controversial law giving super-priority to defined benefit pension plan members during plan windups and insolvencies is coming into effect after receiving royal assent from Governor General Mary Simon. While Bill C-228 received royal assent at the end of April, most of its measures won’t come into force for another four years. However, the requirement […]
The Association of Canadian Pension Management is urging Retraite Québec to streamline its approach to actuarial solvency valuations for pension plans with members outside of the province. In an open letter, the ACPM requested the regulator either reconsiders its position on actuarial solvency valuations or grant exemptions to allow only one valuation to be carried […]
In its 2023 budget, the federal government announced plans to require that federally regulated pension plan sponsors disclose their cryptocurrency asset exposure to the Office of the Superintendent of Financial Institutions. The government has yet to announce how the pension disclosure requirements will be implemented. “Just how these guidelines will affect standards of governance or regulatory […]
Recent amendments to the Quebec Pension Plan to encourage people to work past age 65 offer more flexibility on contributions and retirement age, says Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University. “If people are accumulating a pension, working longer could potentially increase their pension,” says MacDonald, who […]
The rules governing registered retirement income funds and similar retirement vehicles are stuck in the past and need revamping or removal, according to a new report by the C.D. Howe Institute. With the current rules, the purchasing power of minimum RRIF withdrawals could fall to half their initial value by the time a retiree reaches […]