Jan. 1 felt like Groundhog Day for all employees and employers paying into the Canada Pension Plan. Like last year, contributions went up again by more than originally planned. The reason again lies with the unique impacts of the coronavirus pandemic on the labour market. The increase is part of a multi-year plan approved by provinces and […]
It’s no secret there’s a looming retirement savings gap among Indigenous and racialized Canadian seniors and their white counterparts. Indeed, a June 2021 study by the Canadian Centre for Policy Alternatives found data from the 2016 census showed white seniors’ income from private pension sources — such as registered pension plans and registered retirement savings […]
Among 2021’s most popular pension stories on BenefitsCanada.com, Benefits Canada and the Canadian Institutional Investment Network’s rankings of the top 100 defined benefit plans and top 50 defined contribution plans were nearly the bookends to the top 10. 2021 Top 100 Pension Funds Report: DB plans shining bright amid pandemic clouds CPP maximum pensionable earnings rising […]
Women are 10 per cent more likely than men to say their financial health is the same or worse than last year, according to a new survey by Origin Financial. The survey, which polled 1,000 full-time employees in the U.S., also found 62 per cent of male respondents said they’re confident or very confident in […]
The National Association of Federal Retirees and the United Way Centraide North East Ontario/Nord-est de l’Ontario are the latest employers to join the Colleges of Applied Arts and Technology pension plan’s DBplus. The National Association of Federal Retirees, which represents nearly 18,000 members from a variety of pension plans, joined DBplus as of Oct. 22. “It […]
The union representing employees at a Loblaw Co. Ltd. distribution centre in Ajax, Ont. has ratified a new four-year contract that will increase employer contributions to a group registered retirement savings plan. For workers with five or more years of service, the employer’s RRSP contribution match will increase to five per cent from 3.5 per […]
A story on the federal government’s economic and fiscal update took the top spot over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. Federal government extending pandemic aid for employers, employees 2. Ontario recommending introduction of new portable benefits program 3. Toronto’s Juno College planning to move to 100% employee-ownership […]
At the 2021 Defined Contribution Plan Summit, which was hosted virtually on Oct. 6, delegates heard about several pressing issues facing DC plan sponsors and members, including an ageing demographic, decumulation, education around investment options and required legislative updates. Here’s what you missed: CPP/QPP delay a simple solution to improving retirement readiness Using DC investments […]
Managing and drawing down retirement savings is an “impossible task” with contributing factors including the trend away from workplace pension plans, historically low interest rates and high life expectancies. In the keynote address at Benefits Canada‘s 2021 DC Plan Summit, Bonnie-Jeanne MacDonald (pictured), director of financial security research at Ryerson University’s National Institute on Ageing, […]
While it’s easy to get into the weeds of inflation in the current economic environment, the fundamental question for DC plan sponsors and their members is its impact on a traditional 60/40 multi-asset class investment portfolio. “In normal times, that diversification benefit that we know and love in a multi-asset class portfolio, where stocks do […]