retirees – Benefits Canada.com

3M freezing U.S. DB pension plans for non-union employees by end of 2028

Sadie Janes — Wed, 10 Jan 2024 20:00:11 +0000

3M will freeze its U.S. defined benefit pension plans for non-union U.S. employees, effective Dec. 31, 2028, and move plan members to a 401(k) plan structure. Eligible employees will continue to accrue benefits under the pension plans until the freeze date, according to a press release, which noted this decision applies to both 3M and 3M Health Care. Former […]

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2023 DC Investment Forum: Silver linings for retirement savings, investment trends and younger generations

Jennifer Paterson — Mon, 06 Nov 2023 12:59:49 +0000

Defined contribution pension plan members are currently in a different place, especially the younger generations, who are likely feeling as though their financial priorities don’t line up with workplace pensions the way they did for previous generations. “What I’m getting at here is the idea that retirement saving isn’t the undeniable consensus top priority it […]

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Survey finds longevity literacy tied to regular retirement planning, saving

Sadie Janes — Wed, 23 Aug 2023 19:00:07 +0000

Nearly three-quarters (72 per cent) of U.S. employees with strong longevity literacy are saving for retirement on a regular basis, compared to 58 per cent with weak longevity literacy, according to a new survey by the Teachers Insurance and Annuity Association of America Institute and the Global Financial Literacy Excellence Center at the George Washington University […]

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Survey finds U.S. pension plan sponsors increasingly interested in keeping retiree assets in plan

Jennifer Paterson — Thu, 13 Apr 2023 13:00:46 +0000

More than 54 per cent of 401(k) plan sponsors say they prefer to keep their retired members’ assets in their plan, a notable increase from 26 per cent in 2019, according to a new survey by Cerulli Associates. Looking specifically at pension plans intermediated by institutional investment consultants, 35 per cent of respondents said they […]

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Pension super-priority bill passes in House of Commons

lbailey — Mon, 28 Nov 2022 14:00:28 +0000

A bill intended to provide defined benefit pension plan members with super-priority in the event of a plan sponsor’s insolvency passed in the House of Commons last week, furthering division among stakeholders on whether the legislation will cause more harm than good in the long term. The Association of Canadian Pension Management, the Canadian Chamber of […]

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Survey finds Canadian employees delaying retirement due to rising cost of living

Sadie Janes — Thu, 17 Nov 2022 14:00:00 +0000

Nearly two-thirds (62 per cent) of Canadian pre-retirees say the rising cost of living is preventing them from retiring when they’d like to, up from 56 per cent in 2021, according to a new survey by Fidelity Canada. The survey, which polled more than 1,900 Canadians aged 45 and older, found 55 per cent said […]

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A third of Canadian employees retiring sooner than planned: survey

Sadie Janes — Wed, 11 May 2022 13:00:30 +0000

A third (33 per cent) of recently retired Canadians said they retired sooner than they planned and 30 per cent of pre-retirees intend to change their retirement date because of the coronavirus pandemic, according to a new survey by RBC Insurance. It found Canadians are still largely relying on traditional retirement savings tools, such as […]

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Corby, Hiram Walker entering $176-million group annuity buy-in

mschmit — Mon, 07 Dec 2020 12:20:48 +0000

Corby Spirit and Wine Ltd. and Hiram Walker & Sons Ltd. are de-risking with a $176-million group annuity buy-in amidst volatile markets caused by the coronavirus pandemic. The deal covers 750 retirees and beneficiaries and there will be no change for plan members, who will continue to be paid from the plan as before the […]

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Global Decumulation Strategies

mschmit — Tue, 18 Apr 2017 04:48:24 +0000

How are different countries tackling decumulation?

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Union optimistic U.S. Steel agreement could lead to ‘good final deal’ for retirees

mschmit — Thu, 22 Sep 2016 05:25:35 +0000

The union representing workers at U.S. Steel Canada Inc. is cautiously optimistic a proposed acquisition of the company by a U.S.-based holding company will lead to a “good final deal” for retirees at the struggling steelmaker. “We have been in discussions for quite some time with the province and various potential buyers about a restructuring […]

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