The House overwhelmingly approved a bill Thursday to promote retirement security by making it easier for small businesses and other companies to offer retirement plans. The bipartisan bill, approved 417-3, also makes it easier for workers to transfer retirement plans when they change jobs and allows part-time workers to save for retirement. The measures also […]
I was lucky enough to know my great-grandmother. I remember her living to the age of 94 — “incredible,” my family would say. But not as incredible as my great-grandfather. Though I never knew him, he lived to the age of 101. Growing up in the 1980s, I recall that someone living to age 100 […]
An outsourced chief investment officer provides external expertise that can ease the minds of plan sponsors overwhelmed by pension management decisions. While the services have traditionally been used by defined benefit plans, do they translate to defined contribution plan management? John Jenner, vice-president of finance at Electrozad: Although today’s world is geographically the same size […]
Though more than half of Canadian capital accumulation plan members feel financially prepared for retirement, there’s a distinct difference across generations. Given their proximity to retirement, it’s no surprise baby boomers (69 per cent) are the age cohort most likely to agree they feel prepared, compared to 59 per cent of generation X and 41 […]
More than a fifth (21 per cent) of younger Canadian baby boomers haven’t saved for retirement, according to a survey by Franklin Templeton Investments Canada. The survey, which defined young boomers as those between the age of 55 and 64, found 17 per cent of this cohort in the United States are facing a similar situation. […]
A third of employees don’t expect to ever reach full retirement, according to a new survey by Aon. The survey, which polled 1,000 Canadians at all stages of their careers, found more employees are postponing retirement due to financial concerns. The majority of participants said they don’t expect to fully retire all at once, with only 34 per cent […]
Employees of Community Food Centres Canada will join the OPTrust Select defined benefit pension plan after more than 90 per cent voted in favour of the move. CFCC, which operates nine food centres across the country to reduce food insecurity for Canadians, was named one of the plan’s seven inaugural members on April 26. OPTrust […]
When the World Economic Forum met this year in Davos, Switzerland, it chose a very timely topic: the fourth industrial revolution that’s about to be wrought by automation. Like every revolution, it will have winners and losers. Artificial intelligence will massively increase productivity and create jobs that don’t even exist today. But at the same time, it will […]
While the process has been slow to date, it’s clear the migration to defined contribution pension plans will continue in Canada. Defined benefit assets comprised about 47 per cent of total financial wealth in 2007, compared to assets in DC plans and other group retirement savings accounts, which made up about 38 per cent, said Colin Ripsman, president […]
Retirement is a time in every employee’s life that evokes a number of emotions: anticipation, excitement, fear, stress, anxiety and relief, among others. The positive emotions are amplified when planning has taken place to remove the stress, fear and anxiety, so it’s important that people considering retirement aren’t leaving preparation to the last minute, especially not the month or […]