A recent development in the U.K. pension market to give British workers a ‘pot for life’ could reduce the quality of retirement plans that are already in place and create administrative challenges, says Adam Bexson, senior corporate pension consultant at Verlingue Ltd. Currently, plan members are automatically enrolled into a retirement plan chosen by their employer, […]
A survey on the retirement readiness of Canadian workers and a looming retirement crisis was the most-read pension story on BenefitsCanada.com this year. Here are the 10 most popular pension news stories of 2023: 1. Survey finds 44% of Canadian pre-retirees have less than $5,000 in savings 2. Ford, Unifor agreement includes significant DC pension improvements, transition to […]
Premier Danielle Smith’s government has rejected a proposal that would have compelled it to respect the results of a referendum on whether Alberta should quit the Canada Pension Plan. On Dec. 6, the United Conservative Party’s majority government voted down an opposition amendment to Bill 2 — the Alberta Pension Protection Act — by the […]
An article on how Desjardins Insurance is supporting employee financial wellness was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Desjardins using budget workshops, interactive game to support employee financial wellness 2. Canadian employers implementing four-day workweek note increased worker happiness, productivity: report 3. OPB appointing Darwin […]
Alberta Premier Danielle Smith won’t say what happened to her government’s promise to hold face-to-face meetings with citizens in December on quitting the Canada Pension Plan. However, thousands of citizens got their say or tuned in to five recent telephone town hall consultations, she said during a house question period last week, noting nearly 100,000 […]
Former federal finance minister Bill Morneau is standing up for the Canadian Pension Plan, calling it a uniquely successful investment organization that won’t be easily recreated by the Alberta provincial government if it’s successful in its attempt to leave the federal plan. Speaking at the Portfolio Management Association of Canada’s national conference last week, he […]
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 […]
While the term decumulation may sound very technical and often leads to confusion among pension plan members, it’s actually quite simple — effectively, it’s the opposite of accumulation. These two terms make up the typical retirement savings journey — the accumulation phase is the working years when capital accumulation plan members put away their nest […]
As Alberta considers exiting the Canada Pension Plan, the head of the Canada Pension Plan Investment Board visited Calgary on Tuesday to warn against losing its benefits. John Graham, chief executive officer of the CPPIB, made the pitch to a business crowd at a luncheon event. In his speech, he said there’s a strong business […]
An article on Fidelity Canada’s win in the Future of work strategy category at Benefits Canada‘s 2023 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Fidelity Canada wins award for focusing on flexibility amid return-to-office rollout 2. CPP maximum pensionable earnings increasing to $68,500 […]