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While Canadian employers recognize the value of retirement benefits, the current high inflation environment is driving them to favour wage hikes instead, according to a new survey by the Healthcare of Ontario Pension Plan and Angus Reid Group. The survey, which polled nearly 800 business owners and senior leaders, found employers’ leading concerns are greater […]

  • By: Staff
  • November 3, 2022 November 1, 2022
  • 09:00
Editorial

The first issue of Benefits Canada hit the desks of the country’s human resources, benefits, pension and investment professionals in 1977, four years before I was born. That same year, Canada’s inflation rate was eight per cent, very close to July 2022’s annualized inflation rate of 7.6 per cent. A lot has changed in 45 […]

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The Association of Canadian Pension Management is cautioning the Office of the Superintendent of Financial Institutions on a one-size-fits-all approach to risk management across the diverse sectors regulated by the OSFI. In an open letter responding to a consultation by the OSFI, Ric Marrero, chief executive officer of the ACPM, said such an approach has […]

  • By: Staff
  • July 21, 2022 July 20, 2022
  • 09:00

The IWA–Forest Industry pension plan and long-term disability plan are appointing Mark Guiton as chief executive officer. Guiton (pictured left), who has been the organizations’ general counsel since 2017, is replacing outgoing CEO Derrick Johnstone. Prior to joining the IWA, he was director of legal services for the British Columbia Safety Authority for more than nine years. […]

  • By: Staff
  • July 14, 2022 July 14, 2022
  • 09:00
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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
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Eight in 10 (81 per cent) white-collar workers cite hybrid work as a top factor when looking for a new job, ranked alongside higher pension contributions (90 per cent), bonuses/profit sharing (85 per cent) and unlimited vacation and holiday allowances (76 per cent), according to a new survey by IWG. The survey, which polled 1,000 […]

  • By: Staff
  • June 16, 2022 June 16, 2022
  • 15:00

Retirees with defined benefit pension plans are less likely to draw down their savings to cover their spending than those with a defined contribution plan, according to a new report by the University of Michigan. It found while most employees born between 1920 and 1940 had access to a DB plan, this percentage dropped dramatically […]

  • By: Staff
  • May 31, 2022 May 30, 2022
  • 09:00

Almost a third (29 per cent) of Canadians believe their employer-sponsored pension plan will be their primary source of retirement income, while 15 per cent said they’re relying on government pension plans, according to LifeWorks Inc.’s latest financial well-being index. The survey, which polled 3,000 Canadian employees, found the overall financial well-being score decreased slightly […]

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

While a majority (75 per cent) of Canadians are making their financial wellness a priority in 2022, only 52 per cent expressed confidence about the retirement plan they have in place and fewer (43 per cent) were confident they’re saving enough to retire how and when they want, according to a new survey by the Canadian […]

  • By: Staff
  • March 18, 2022 March 18, 2022
  • 15:00

Global consultancy Willis Towers Watson is rebranding as WTW. “Since 2016 we have been known as Willis Towers Watson, the combination of Willis and Towers Watson,” said Carl Hess (pictured), WTW chief executive officer, while leading the Nasdaq’s market opening bell ringing ceremony on Jan. 25. “Now we move forward as WTW, both a celebration […]

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