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 […]
Among the 36 per cent of Canadian employers that say they’ve made changes to their initial 2024 salary budgets, more than half (56 per cent) decreased their budget, according to a new survey by Normandin Beaudry. The survey, which polled more than 400 employers, found the average Canadian salary increase budget for 2024 remained steady […]
Legislation that mandates the transfer of five New Brunswick public sector defined benefit pension plans to a shared-risk model goes into effect today. The Pension Plan Sustainability and Transfer Act, which received royal assent in December, will impact more than 7,800 active members enrolled in five plans serving school board and nursing home employees and […]
Just a fifth (22 per cent) of Albertans say they support the province’s plan to leave the Canada Pension Plan in favour of a provincial plan, down from 27 per cent last October, according to a new survey by Leger Marketing Inc. The survey, which polled more than 1,000 Albertans, found while 40 per cent […]
While the vast majority (91 per cent) of Canadian workers say they’re saving for retirement, just 69 per cent are confident they’re saving enough, according to a survey by LIMRA. The survey, which polled more than 1,500 retirees and employees aged 40 to 85 years old with at least $100,000 in household investable assets, found fewer […]
The impacts of climate change and federal super-priority legislation on Canadian pension plans are among the issues that the Canadian Institute of Actuaries is monitoring in 2024, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. While climate change is a consideration across all of the CIA’s practice […]
Ontario civil servants are questioning the methodology used in a report that determined how much money Alberta could extract from the Canada Pension Plan if the province were to leave the CPP and launch its own plan, according to reporting by the Edmonton Journal. In a series of briefs, the Ontario Ministry of Finance outlined several inconsistencies […]
More than two-fifths (45 per cent) of U.S. defined contribution pension plan sponsors say they’re considering implementing emergency savings features, according to a survey from MFS Investment Management. The survey, which polled 1,000 DC plan members and more than 140 plan sponsors, found nearly a quarter (23 per cent) of plan sponsors said they’d take […]
An article on how the federal government should ensure its new Canadian Dental Care Plan doesn’t displace existing employer-sponsored dental coverage was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Tax credit could ensure national dental-care plan doesn’t displace employer-sponsored coverage: expert […]