An article on how Ontario’s proposed pay transparency legislation will impact employers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How Ontario pay transparency legislation will impact employers 2. Expert panel: How interest rates impact DB pension plans 3. How employers can shift younger workers’ ‘soft saving’ […]
Discouraged with the state of the current economy, more and more younger workers are abandoning saving for retirement and focusing on ‘soft saving.’ Soft saving is when employees, many of whom started their careers later than previous generations, decide to take a more laid-back approach to saving for the future, rather than adopt the FIRE concept — […]
The pension indexation rate for federal public sector pensions will be 4.8 per cent in 2024, according to the National Association of Federal Retirees. The rate, which is set by the Treasury Board Secretariat in accordance with the Public Service Superannuation Act and the Supplementary Retirement Benefits Act, is a decrease from last year’s indexation […]
Just 14 per cent of near-retirees say they can retire with confidence and only five per cent say they’ve sought financial advice from their employer, according to a new survey by Deloitte. A third (31 per cent) of near-retirees said they’ll need to rely on the Canada Pension Plan or Quebec Pension Plan to sustain their […]
Alberta Premier Danielle Smith won’t say what happened to her government’s promise to hold face-to-face meetings with citizens in December on quitting the Canada Pension Plan. However, thousands of citizens got their say or tuned in to five recent telephone town hall consultations, she said during a house question period last week, noting nearly 100,000 […]
The Association of Canadian Pension Management is urging the federal government to reverse its position on the cessation of real return bonds and open a stakeholder consultation on the matter. In an open letter, the ACPM said the real return bonds are an important tool in building a balanced portfolio that manages inflation risk. In […]
When Desjardins Insurance launched a study to redefine employee health and well-being, an unexpected finding came through loud and clear: Canadian employers and insurers should be paying much closer attention to millennial plan members. Millennials are a cohort of people born between 1980 and 1996. Since 2016, the generation has comprised the largest segment of […]
Former federal finance minister Bill Morneau is standing up for the Canadian Pension Plan, calling it a uniquely successful investment organization that won’t be easily recreated by the Alberta provincial government if it’s successful in its attempt to leave the federal plan. Speaking at the Portfolio Management Association of Canada’s national conference last week, he […]
The average U.S. 401(k) balance decreased to $107,700 in the third quarter of 2023, down four per cent from Q2, but up by 11 per cent from a year ago, according to a new report by Fidelity Investments. Reflecting a combination of employee and employer 401(k) contributions, the total savings rate for the third quarter […]
Two-thirds (65 per cent) of U.S. employees rank flexible work options as the No. 1 component of compensation beyond salary, down from 71 per cent in 2022, according to a new report by the Conference Board Inc. The survey, which polled more than 1,500 workers, found employees in hybrid (68 per cent) and fully remote […]