The union representing 60 employees at Maple Leaf Foods in Port Perry, Ont., has ratified a four-year collective agreement that includes pension and benefits gains. Vision coverage will increase from $280 to $315 in the first year and coverage for paramedical services will increase from $380 to $410 in the first year and to $420 […]
The union representing more than 1,300 employees at General Motors’ assembly plant in Ingersoll, Ont. has ratified a two-year collective agreement that includes pension and benefits gains. On Aug. 3, 2025, employees hired on or after Sept. 17, 2013, and currently participating in the defined contribution pension plan will be enrolled in the Colleges of […]
Brianne Collins, age 29, has worked as a senior copywriter at a large Toronto-based advertising agency for just over a year. Collins’ agency supports employee financial wellness in several ways, including a group registered retirement savings plan, financial advice and Financial Literacy Month webinars with sessions covering various financial topics. “In busy day-to-day work, it’s […]
The union representing more than 1,600 faculty, librarians, archivists and post-doctoral researchers at York University has ratified a three-year collective agreement that includes multiple benefits gains. The agreement includes an increase in coverage for eyeglasses from $850 to $935 every 24 months, as well as an increase for paramedical services from $3,000 to $3,200. In […]
The Ontario Teachers’ Pension Plan is appointing Mabel Wong as its chief financial officer, effective immediately. She officially enters the role after serving as acting CFO following the departure of Tim Deacon in April. Her responsibilities include financial management and reporting, valuation, risk analytics, financial operations and strategic finance initiatives. Read: Tim Deacon leaving Ontario Teachers’ for Sun Life […]
Capital accumulation plan members continued to see an uptick in their plan outcome for the second quarter of 2024, as gross income replacement ratios remained at multi-year highs, according to a new report by Eckler Ltd. The consultancy’s latest CAP income tracker found a typical male member retiring at the end of June 2024 achieved […]
Working grandparents who are providing financial support to children and/or grandchildren are risking their own plans for retirement, says Craig Bannon, director of financial planning centre of expertise at the Royal Bank of Canada. “[They might need to] delay their retirement to extend their earning years or continue to work on a part-time basis in […]
The federal government’s move to introduce legislation extending pension eligibility to frontline public safety and law enforcement workers after 25 years of service could help manage room for new hires and ensure stable plan maturity, says James Fu, partner and national leader of pensions and benefits law at Borden Ladner Gervais LLP. Hundreds of frontline workers […]
Retirement plan members who engage with their plan digitally have an average retirement account balance 230 per cent higher than those who weren’t engaged ($123,800 versus $51,800), according to a new report by Sun Life Financial Inc. The report, which analyzed data from 1.45 million Sun Life group retirement plan members, found employees who were were digitally engaged are also more […]
The federal government recently announced plans to introduce legislation in the fall that will expand pension eligibility to frontline public safety and law enforcement workers in Canada. The legislation is welcomed by the Public Service Alliance of Canada and the Customs and Immigration Union after they’ve advocated for more than a decade for equitable retirement […]