Sun Life Assurance Co. of Canada is introducing what it says is a “great bridge to decumulation” by launching new target-date funds that focus defined contribution pension plan members on their goal for retirement income. The funds, which will be available for group savings plans in 2018, will require plan members to set a retirement income target […]
When it comes to investing for retirement, do plan members benefit more from having target-date funds that come with a standard formula or funds that may change investment strategies over time depending on the portfolio’s performance? A recent paper published by the Social Science Research Network suggested that target-date funds may not be the most […]
“Indexing has its place, but an open-ended commitment at taxpayers’ expense is totally out of the question, particularly when the private sector cannot afford to include such open-ended liabilities as a business expense.” That was the conclusion of a Benefits Canada story entitled “The new elite: those with indexed pensions.” Read: Chronicling the Canadian pension […]
As part of its celebration of its 40th anniversary, Benefits Canada followed up on research undertaken five years ago into plan sponsors’ attitudes towards their pension and benefits plans. How do the results today compare to the 2012 findings? It’s no surprise that, according to Benefits Canada’s research, plan sponsors find costs the biggest challenge […]
Public sector pensioners don’t necessarily live longer than private sector ones, a new study by Club Vita Canada Inc. has found. In its inaugural longevity study, the analytics provider and Eckler Ltd. subsidiary found that male private sector pensioners are actually living slightly longer than those in the public sector. It warned that by focusing on […]
Over the next decade, employers will have to create workplace programs that recognize employees’ careers beyond retirement, speakers on a panel at an event in Toronto suggested on Wednesday. “Stats Canada still ends [the definition of] working-age Canadian at age 64, and yet we know that people are working well beyond that age,” said Lisa […]
The average retirement savings of women in the United States is one-third lower than the savings of their male counterparts, according to a new study by Prudential Retirement. The paper notes a combination of behavioural patterns and external pressures putting women at a disadvantage in terms of planning for and saving toward retirement, including the […]
Labour market participation has fallen to a 17-year low as fewer working-aged Canadians are participating in the workforce, a new study from Statistics Canada has revealed. According to the federal agency, the labour market participation rate fell to 65.7 per cent in 2016 from 67.4 per cent in 2007. While the population aged 15 and […]
It’s never easy telling employees their pension benefits are getting worse, whether that’s because of a merger, a sale or simply a cost-savings measure. But when it happens, employers should consider several tactics to minimize both employee distress and the possibility of a lawsuit. “They need to be aware of potential constructive dismissal [litigation] that could occur if […]
The Royal Canadian Mounted Police pension plan doesn’t discriminate against women, a federal judge has ruled. Allison Pilgrim, Joanne Fraser and Colleen Fox all joined the RCMP in the 1980s. When job-sharing became available in 1997, they each took advantage of the program to care for their young children. But they didn’t realize that job-sharing officers couldn’t buy […]