Almost half (40 per cent) of American workers said the coronavirus pandemic’s made them more concerned about planning for retirement, according to a survey by the Indexed Annuity Readiness Council. The survey, which polled more than 2,000 adults in the U.S., also found 30 per cent of American workers said their plans to retire at […]
People Corporation Inc. is acquiring British-Columbia-based group benefits, retirement and insurance consulting company Burton Financial Ltd. Burton’s principals, Sean and Darla Trimble, will continue to run the operations as part of People Corp. and its team of employees will continue to provide service and solutions to its plan sponsor clients. Read: People Corp. acquiring B.C.-based benefits […]
Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]
The coronavirus pandemic is financially impacting generation Z, millennials, generation X and baby boomers differently. Canadians from the millennial (22 per cent) and gen-X (25 per cent) cohorts were slightly more than two-times more likely than baby boomers (10 per cent) to have said the pandemic significantly set them back financially, according to a new […]
A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data. The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build […]
While a recent dispute between the Canadian National Railway Co. and the surviving same-sex partner of a deceased plan member will likely inspire other plan sponsors to ensure pension benefits are correctly distributed, the amount of new claimants coming forward will likely be relatively small, says Jill Wagman, managing principal at Eckler Ltd. “It may […]
U.S. President Joe Biden’s administration is suing to block the merger of two of the world’s largest insurance brokers, asserting the deal could eliminate competition, raise prices and hamper innovation for American businesses, employers and unions that use the companies’ services. On Wednesday, the U.S. Department of Justice announced the antitrust suit filed in federal […]
Indigenous and racialized seniors have less retirement security and higher poverty rates than white seniors in Canada, according to a new report by the Canadian Centre for Policy Alternatives. Based on data from the 2016 census, the report found Indigenous seniors have an average income of $32,200 and a poverty rate of 21.5 per cent, […]
Nova Scotia is allowing residents to apply directly to their financial institution to access their retirement savings when facing financial challenges. Under amendments to provincial pension legislation effective July 1, a person may be approved to access part of a locked-in retirement account or life income fund if they expect less than $41,067 in income […]
Aon is selling its U.S. retirement business to Aquiline Capital Partners and its retiree health exchange business to Alight Solutions for a total of US$1.4 billion. The sales are intended to address questions raised by the U.S. Department of Justice ahead of the pending merger of Aon and Willis Towers Watson, according to a press […]