France’s new Prime Minister François Bayrou announced this week the renegotiation of a contested plan raising the retirement age from 62 to 64, in a crucial move to seek more stability for his minority government. In his first address to lawmakers at the National Assembly, Bayrou vowed to seek “a new path of reform, without […]
In 2022, U.S. retiree spending — driven by private and public sector defined benefit pension payouts — generated US$1.5 trillion in total economic output and supported 7.1 million jobs, according to a new report by the National Institute on Retirement Security. It found in addition to the impact on employment and economic activity, DB pension […]
Promoting employee financial awareness and retirement readiness amid the rising cost of living is a priority for the Canadian Public Pension Leadership Council in 2025, says Cheldon Angus, co-chair of the CPPLC and chief executive officer of the Winnipeg Civic Employees’ Benefits Program. “More and more these days, employers are prioritizing their financial literacy education for […]
While Prime Minister Justin Trudeau’s resignation is fuelling uncertainty among Canadians regarding the direction of the country, financial markets have been surprisingly resilient in reaction to the news, says Francis Gingras Roy, a senior financial advisor at Manulife Wealth Inc. He notes when Trudeau announced his resignation last Monday, the TSX ended the day pretty flat. […]
Eligible members of the Victoria University General Pension Plan, along with Trent University’s Contributory Pension Plan for Employees represented by OPSEU Local 365 and the Trent University Staff Plan are joining the University Pension Plan, effective this month. “We are thrilled to welcome eligible members of the Trent Staff and Victoria University plans as UPP’s […]
Variable payment life annuities and the impact of gender identity on actuarial standards are among the issues the Canadian Institute of Actuaries is monitoring in 2025, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. A CIA task force on VPLAs will present its findings early this year, […]
An article on declining mental health among Canadian workers was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Canadian workers’ mental health on the decline, driven by financial anxiety: survey 2. Why employers should have a policy addressing political discourse […]
The Financial Services Regulatory Authority of Ontario is closely monitoring administrative risk and pension plan sponsors’ geopolitical concerns in 2025, says Andrew Fung, the organization’s executive vice-president of pensions. He cites increasing non-investment management risks like fraud, identity theft, data breach, cybersecurity and the use of artificial intelligence as emerging risks that plan sponsors will […]
The mental health of Canadian workers has dropped below levels last seen at the start of the coronavirus pandemic, driven by a steep decline in financial wellness, according to Telus Health’s latest mental-health index. The survey, which polled more than 3,000 employees, found workers’ average mental-health score dropped from 64.4 in September to 61.3 in […]
An article on the federal government’s decision to transfer a $1.9 billion public pension surplus to general revenue was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Feds’ decision to transfer $1.9BN public pension surplus to general revenue within its […]