Every day, it seems the news includes a story or two about the economy and whether or not a recession is coming. At the same time, with interest rates, inflation and day-to-day costs rising, employees may already be feeling anxious about their ability to meet their financial obligations. Some employees will be feeling concerned about […]
Capital accumulation plan member outcomes saw modest increases in the third quarter, due to high annuity rates that shielded members from modest investment market declines, according to a new report by Eckler Ltd. It found a typical male member retiring at the end of September achieved a gross income replacement ratio of 60.3 per cent […]
An article on the strike by Ontario education workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CUPE’s Ontario education workers striking for extended benefits, wage increases 2. Stellantis, Unifor agreement includes pension and retirement gains 3. Sounding Board: How employers can better support employees […]
Canadian women are retiring with 78 per cent of the wealth accumulated by Canadian men, slightly better than the global average of 74 per cent, according to a new report by WTW. In North America, it found pay gaps and delayed career progression are the primary drivers of the wealth disparity between men and women, […]
More than two-thirds (68 per cent) of U.S. employers say they’re increasing salaries and enhancing employee benefits in 2023 amid a tough labour market, according to a new survey by the International Foundation of Employee Benefit Plans. It found employers are planning to increase wages by an average of 3.9 per cent next year, while […]
While the majority (80 per cent) of U.S. retirement plan sponsors rate their record keeper as excellent or very good, they’re also seeking more support for plan members’ financial wellness, according to a new survey by Greenwich Associates. The survey, which polled 145 U.S. retirement plan sponsors and 15 U.S. consultants, found among plan sponsors, […]
The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]
The union representing employees at automobile manufacturing company Stellantis’ assembly plants in Windsor, Ont. and Brampton, Ont. has ratified a three-year collective agreement that includes pension and retiree benefits improvements. The agreement will add $1 per hour to the current company pension contribution. Employees earning the current maximum wage rate will see the pension contribution converted […]
An article on Telus Communications Inc.’s win in Benefits Canada‘s 2022 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Telus wins award for supporting employees’ holistic well-being 2. Survey finds nearly all young employees globally experiencing burnout 3. Half of employees say employer hasn’t communicated […]
Western University is marking Financial Literacy Month with a series of webinars and consultations addressing employees’ financial questions. The webinars cover topics such as retirement, estate planning, investments and the connection between health and wealth. While the university has covered the health-wealth connection in previous years, the topic is of perennial interest to employees and is […]