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Keyword: Plan design

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A majority (72 per cent) of plan sponsors believe their retirement savings plan is meeting its goals this year, up from roughly 66 per cent in 2020, according to a new survey by Fidelity Investments Inc. While 68 per cent said their employees are saving enough for retirement — up from 59 per cent in […]

  • By: Staff
  • July 29, 2021 July 29, 2021
  • 09:00
Alberta’s LAPP ending coordination option due to pension member confusion

Alberta’s Local Authorities Pension Plan is cancelling its coordination option, citing regret and confusion from plan members who mistakenly accessed the feature without fully understanding the financial implications. According to a statement by the LAPP, coordination will be discontinued for members who start their pension on or after Jan. 1, 2021. It noted the option’s […]

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Nova Scotia’s Public Service Superannuation Plan reported a 98.5 per cent funded status as of Dec. 31, 2019 and said it will halt cost-of-living adjustments for retirees for the next five years. According to the plan’s 2020 funded health review, its funding policy prohibits indexing when the PSSP’s funded status is below 100 per cent. […]

  • July 1, 2020 January 20, 2021
  • 07:42
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The Ontario Municipal Employees Retirement System sponsors corporation board is considering two plan design changes: the introduction of shared-risk indexing and the expansion of pension coverage to non full-time workers. On the shared-risk indexing front, the sponsors corporation board is looking at potentially reducing future inflation increases on benefits earned after Dec. 31, 2022. As […]

  • By: Staff
  • April 22, 2020 December 13, 2020
  • 11:47
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\Over the course of the last 15 years we have seen an increase in the number of frozen corporate defined benefit plans in Canada. Frozen plans have limited the future benefit accruals in the plan, either through closing membership to new employees or, in some cases, freezing future service accruals to existing members. This fundamental […]

  • April 1, 2019 January 10, 2021
  • 08:32
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In the fourth industrial revolution, technology is changing at a fast pace with a rolling effect on various industries. It’s also changing how people work, spend their money and save, said Jean-Philippe Provost, senior partner and wealth business leader at Mercer Canada. At the consultancy’s annual retirement outlook event on Thursday, Provost walked through current practices in the Canadian retirement […]