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Canada’s gender pension gap is growing as Canadian women received an average of 18 per cent less retirement income than men in 2020, according to a report by Ontario’s pay equity office. It found the gap is more pronounced among women in visible minority groups (37 per cent), among sources of private retirement income (28 per […]

Ontario DB pension solvency up again in third quarter: FSRA

A fifth (19 per cent) of U.S. employees say they’ve adjusted their retirement strategy and are taking a more conservative savings approach amid economic uncertainty, according to a new report by Fidelity Investments Inc. It found the total savings rate for the second quarter of 2022 continued the positive momentum achieved in the first quarter, […]

  • By: Staff
  • August 19, 2022 August 21, 2022
  • 15:00

Sun Life Financial Inc. is selling its U.K. pension and annuities business. The company has entered an agreement to sell SLF of Canada U.K. Ltd. to U.K.-based long-term savings and retirement business Phoenix Group Holdings for a closing price of $385 million. Sun Life will retain its economic interest in Sun Life U.K.’s payout annuities […]

  • By: Staff
  • August 5, 2022 August 5, 2022
  • 09:00
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The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019, according to a new report from Statistics Canada. It found more than 4.4 million Canadians were covered by a defined benefit pension plan in 2020, up 1.7 per cent from 2019, noting the majority (72 […]

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

Roughly 2,000 Unifor members at eight Ontario casinos have voted to strike if new pension and benefits agreements can’t be negotiated by midnight on July 22. The union is also seeking to increase in the amount of stable jobs by converting part-time or casual positions into full-time jobs, according to a press release. Read: Pensions, retirement security […]

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

Pension and retirement plan members in Saskatchewan can now designate beneficiaries through electronic means. The provincial government recently passed a series of amendments regarding the electronic handling of legal matters. Bill 56 specifically allows individuals to name beneficiaries electronically for certain types of plans including an employee pension, retirement, welfare or profit-sharing fund or plan, […]

  • By: Staff
  • May 27, 2022 May 27, 2022
  • 15:00
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The union representing employees at a Hitachi Construction Truck Manufacturing Ltd. plant in Guelph, Ont. has ratified an agreement that includes pension and benefits gains. Unifor Local 1917 Hitachi unit members voted 95 per cent in favour of the three-year collective agreement, which includes a $0.25 contribution increase to the defined benefit pension plan, from […]

  • By: Staff
  • May 24, 2022 June 22, 2022
  • 09:00

Contract food services and custodial workers at Canada’s colleges and universities have less access to pensions and paid leave than their in-house colleagues, according to a new report by the Canadian Union of Public Employees. The report, which analyzed employment data from publicly funded post-secondary institutions, found only 23 per cent of contract food services employers […]

  • By: Staff
  • May 13, 2022 May 13, 2022
  • 09:00

A story on the Toronto-Dominion Bank’s enhancement to its benefits offerings in 2022 with expanded family planning coverage took the top spot over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. TD expanding fertility treatment coverage, bereavement policy 2. N.S. Pension Services Corp. appoints new CIO 3. 82% of Canadian workers think […]

  • By: Staff
  • January 21, 2022 January 21, 2022
  • 09:00

Diversity, equity and inclusion is top of mind for many plan sponsors these days. And, while issues around retirement and pensions likely aren’t the key focus for employers looking to tackle DEI issues, they should be. This March, the Organisation for Economic Co-operation and Development released a study that found the pension gender gap, or the difference […]