retirement income – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Ford Canada transferring $923 million in pension liabilities via group annuity buyout https://www.benefitscanada.com/pensions/defined-benefit-pensions/ford-canada-transferring-923-million-in-pension-liabilities-via-group-annuity-buyout/ Thu, 22 Feb 2024 14:00:04 +0000 https://www.benefitscanada.com/?p=152217 Ford of Canada is is transferring the longevity risk for $923 million in pension plan liabilities through a group annuity buyout. RBC Insurance, Sun Life Assurance Co. of Canada and Desjardins Group will assume responsibility for making pension payments to 2,700 of the plan’s members, who retired on or prior to June 1, 2021. Read: GM Canada […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-72/ Fri, 16 Feb 2024 14:00:05 +0000 https://www.benefitscanada.com/?p=152080 An article on the Canada Revenue Agency’s guidance for how employers must determine the province of employment for remote workers was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the week: 1. CRA clarifying how employers must determine province of employment for remote workers 2. Quebec’s amendment […]

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]]> FSRA’s Pension Awareness Day helping engage, educate employees on benefits of workplace pension plans https://www.benefitscanada.com/pensions/defined-benefit-pensions/fsras-pension-awareness-day-helping-engage-educate-employees-on-benefits-of-workplace-pension-plans/ Wed, 14 Feb 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=151914 For its second annual Pension Awareness Day on Feb. 15, the Financial Services Regulatory Authority of Ontario is holding information sessions for its employees to learn more about their pension plan. Even people who actually have an employer-sponsored pension plan aren’t aware of the value of those benefits, says Andrew Fung, executive vice-president of pensions […]

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]]> What are the issues for savings when mental health becomes a burden in retirement? https://www.benefitscanada.com/archives_/benefits-canada-archive/what-are-the-issues-for-savings-when-mental-health-becomes-a-burden-in-retirement/ Fri, 09 Feb 2024 13:56:03 +0000 https://www.benefitscanada.com/?p=151405 Since decreased cognition can impact retirees’ ability to make sound decisions, the Canadian Union of Public Employees urges its members to discuss financial matters with their families long before exiting the workforce. “If we wait until we’re in distress, we either make very bad decisions or we don’t make any decisions at all, which can […]

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]]> Just 22% of Albertans support CPP withdrawal, creation of provincial pension plan: survey https://www.benefitscanada.com/pensions/governance-law/just-22-of-albertans-support-cpp-withdrawal-creation-of-provincial-pension-plan-survey/ Tue, 30 Jan 2024 14:00:38 +0000 https://www.benefitscanada.com/?p=151281 Just a fifth (22 per cent) of Albertans say they support the province’s plan to leave the Canada Pension Plan in favour of a provincial plan, down from 27 per cent last October, according to a new survey by Leger Marketing Inc. The survey, which polled more than 1,000 Albertans, found while 40 per cent […]

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]]> Ontario civil servants noting flaws in Alberta’s CPP portion calculations: report https://www.benefitscanada.com/pensions/governance-law/ontario-civil-servants-noting-flaws-in-albertas-cpp-portion-calculations-report/ Thu, 25 Jan 2024 14:00:09 +0000 https://www.benefitscanada.com/?p=151094 Ontario civil servants are questioning the methodology used in a report that determined how much money Alberta could extract from the Canada Pension Plan if the province were to leave the CPP and launch its own plan, according to reporting by the Edmonton Journal. In a series of briefs, the Ontario Ministry of Finance outlined several inconsistencies […]

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]]> PIAC asking B.C. to refrain from limiting entities that can offer variable life benefits https://www.benefitscanada.com/pensions/governance-law/piac-asking-bc-to-refrain-from-limiting-entities-that-can-offer-variable-life-benefits/ Wed, 24 Jan 2024 14:00:03 +0000 https://www.benefitscanada.com/?p=151019 The Pension Investments Association of Canada is calling on the British Columbia government to refrain from setting limits on the type of entities that can offer variable life benefits. In an open letter, the association said a competitive landscape that includes a broad scope of service providers, including registered pension plans, would be beneficial for retirees, noting […]

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]]> 45% of U.S. DC plan sponsors considering adding emergency savings options in 2024: survey https://www.benefitscanada.com/news/45-of-u-s-dc-plan-sponsors-considering-adding-emergency-savings-options-in-2024-survey/ Tue, 23 Jan 2024 20:00:08 +0000 https://www.benefitscanada.com/?p=151009 More than two-fifths (45 per cent) of U.S. defined contribution pension plan sponsors say they’re considering implementing emergency savings features, according to a survey from MFS Investment Management. The survey, which polled 1,000 DC plan members and more than 140 plan sponsors, found nearly a quarter (23 per cent) of plan sponsors said they’d take […]

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]]> Half of Canadian retirees receiving less than $50K per year from employer-sponsored pension plan: survey https://www.benefitscanada.com/pensions/retirement/half-of-canadian-retirees-receiving-less-than-50k-per-year-from-employer-sponsored-pension-plan-survey/ Tue, 16 Jan 2024 20:00:48 +0000 https://www.benefitscanada.com/?p=150635 More than half (53 per cent) of Canadian retirees say they’re receiving, or will receive, less than $50,000 in annual retirement income from their employer-sponsored pension plan, according to a survey by the Ontario Securities Commission. It found just 19 per cent of retirees with employer-sponsored pension plans said they expect to receive between $50,000 […]

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]]> Expert panel: Risk management, target-benefit framework among themes shaping pension industry in 2024 https://www.benefitscanada.com/expertpanel_/susan-g-seller/expert-panel-risk-management-target-benefit-framework-among-themes-shaping-pension-industry-in-2024/ Tue, 16 Jan 2024 14:00:02 +0000 https://www.benefitscanada.com/?p=150589 While it’s impossible to predict exactly how pension case law will evolve in future, one can offer an educated guess at some legislative developments and other issues that may confront pension plan sponsors and administrators in the coming year. Risk management Plan sponsors can expect a continued focus on risk management as a key part […]

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