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The vast majority (89 per cent) of U.S. employees say they’d be more likely to continue working for an employer that offered a retirement plan, according to a new survey by Vestwell Holdings Inc. The survey, which polled more than 1,200 workers, found a similar percentage (89 per cent) expressed some level of interest in […]

  • By: Staff
  • February 21, 2024 February 21, 2024
  • 15:00
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The average rate of contribution by U.S. Black and Hispanic workers to employer-sponsored retirement plans is roughly 40 per cent lower than that of white workers, according to a new working paper by the Massachusetts Institute of Technology’s Sloan School of Management. The paper examined responses from more than 12 million respondents aged 24 to […]

  • By: Staff
  • February 21, 2024 February 20, 2024
  • 09:00
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While Canadians, on average, believe they need $1.7 million in retirement, this amount varies among different generations of employees, according to a new survey by the Bank of Montreal. The survey, which polled roughly 1,500 Canadians, found millennials believe they need the most money to retire ($2.1 million), followed by generation Z ($1.6 million), generation […]

  • By: Staff
  • February 16, 2024 February 16, 2024
  • 15:00
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Fewer than four in 10 Black Americans say they’ve saved or are saving enough for retirement according to a new survey by LIMRA. The survey, which polled 3,000 employees, also found Black Americans were less likely than the general population to have invested in a workplace retirement account (37 per cent compared to 46 per […]

  • By: Staff
  • February 16, 2024 February 15, 2024
  • 09:00
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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 […]

  • By: Staff
  • February 16, 2024 February 15, 2024
  • 09:00
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Retirement benefits paid out by the Ontario Municipal Employees Retirement System accounted for 9.3 per cent of retirement income in Ontario in 2023, according to a new report by the Canadian Centre for Economic Analysis. The report analyzed data related to the OMERS’ pension payments, operations and assets. It found members’ retirement income alone supported […]

  • By: Blake Wolfe
  • February 15, 2024 February 14, 2024
  • 09:00

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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Slightly more than a third (35 per cent) of working Canadians aged 50 and older say they can afford to retire when they want, according to a new report by the Toronto Metropolitan University’s National Institute on Ageing. The survey, which polled more than 5,800 Canadians aged 50 and older, found two-fifths (39 per cent) said […]

  • By: Staff
  • February 9, 2024 February 8, 2024
  • 09:00

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 […]

While Blair Richards understands why the industry is moving away from defined benefit pension plans, he worries about what may be lost in the process. When Richards — the chief investment officer at the Halifax Port ILA/HEA pension plan — joined the institutional investor 40 years ago, DB plans were an attractive hiring and retention […]