AGA Benefit Solutions is acquiring Vancouver-based Aptus Benefits Inc., a group benefits and retirement consultancy with expertise in collectively bargained plans and executive disability programs. Private equity firm Novacap will finance the acquisition, which is expected to expand AGA Benefit Solutions’ reach into Western Canada, according to a press release. Read: AGA Benefit Solutions acquiring J&D Benefits […]
Married women are more likely to say they’re confident they’ll have enough money to live comfortably throughout their retirement years than both divorced and single, never-married women, according to a new survey by the U.S.-based Employee Benefit Research Institute. It found married women (80 per cent) are more likely to have a workplace retirement savings […]
On Thursday, employees at a Trader Joe’s supermarket in Massachusetts became the latest workers at a major company to approve a labour union. The store is the first Trader Joe’s with an employees’ union. The union vote, counted by National Labor Relations Board agents in front of witnesses from management and employees, passed 45-31 with […]
While old-age security has permanently increased by 10 per cent for seniors aged 75 and older, employees can maximize this benefit, along with their Canada Pension Plan benefit, by delaying retirement as long as possible, says Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University. “People need […]
Just 0.9 per cent of 35 million U.S. defined contribution pension plan members ceased making contributions during the first quarter of 2022, according to a report by the Investment Company Institute. While this percentage was slightly higher than in the first quarter of 2021 (0.8 per cent), it was a substantial drop from 2020 (1.4 […]
While U.S. employees say it takes $1.1 million in savings, on average, to retire comfortably, 56 per cent expect to have less than $500,000 saved, according to a new survey by Schroders. It found 36 per cent of respondents expect to save less than $250,000 and only 24 per cent expect to save $1 million […]
Roughly two-fifths (37 per cent) of U.S. employers are increasing the quality of their existing benefits offerings to help with employee retention and attraction efforts, according to a survey by Principal Financial Services Inc. The survey, which polled 500 employers and 200 employees, found the top three enhanced benefits are short- and long-term disability insurance, […]
Pension coverage in the public sector is high, with the vast majority of public sector employees covered by a defined benefit pension plan. However, the story is very different in the private sector as pension coverage is much lower and is trending downwards. Only 22 per cent of private sector employees participated in a registered […]
Almost two-thirds (61 per cent) of U.S. employees aged 25 to 35 have changed jobs in the last two years or are planning to make a move by 2024, according to a new survey by Fidelity Investments Inc. The survey, which polled 1,500 employees, found while salary was the most important factor to employees who […]
An article on how employers can support workers as a record number of Canadians prepare to retire was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How employers can support workers as record number of Canadians near retirement 2. Best Buy adopting remote working-first approach […]