While pension plan sponsors and the government have roles to play when it comes to retirement, it’s increasingly up to individual employees to ensure they have a solid retirement plan, said Jack Mintz, the president’s fellow at the University of Calgary’s school of public policy. During a virtual roundtable hosted by the Association of Canadian Pension […]
Many Canadians are seeing the impact of the ongoing coronavirus pandemic on their retirement plans and ability to save, according to a new survey by the Canadian Imperial Bank of Commerce. In the survey, 40 per cent of respondents expressed concerns about the pandemic’s effects on their savings, with 23 per cent unable to contribute […]
Canada’s retirement income system scored ninth place for the second year in a row, securing a “B” rating in spite of uncertainty in the markets as a result of the coronavirus pandemic. The annual global pension index by Mercer and the CFA Institute noted the pandemic’s effects on the global pension fund markets aren’t only widespread […]
With federal and provincial regulators introducing relief measures this year to support pension plans amid the financial upheaval resulting from the coronavirus crisis, the Financial Services Regulatory Authority of Ontario saw a lot of action from plan sponsors registered in the province. “In terms of whether plans are taking advantage of the relief — they are in […]
Looking back at all of the pension legislation stories we’ve written up during the coronavirus pandemic, I’ve noticed federal and provincial governments definitely favoured defined benefit plans over defined contribution plans in their various temporary regulations. In the first month of the pandemic, the feds halted solvency special payments for federally regulated DB plans until […]
Certain politicians have suggested Alberta withdraw from the Canada Pension Plan and go it alone. Would the province benefit from a solitary system or is the idea short-sighted? Niels Veldhuis, economist and president of the Fraser Institute In June, Alberta’s Fair Deal panel recommended the development of a comprehensive plan to withdraw the province from […]
Defined contribution pensions are taking a bumpy ride in the coronavirus pandemic, with plan sponsors and their members facing volatile stock markets, financial uncertainty and interruptions to business as usual. Whether related to plan design, investment options, decumulation or overall financial well-being and education, what issues are taking the spotlight this year and what changes […]
The Local Authorities Pension Plan is in an interesting situation. Historically, the president of the Alberta Treasury Board and the minister of finance was the plan’s legal trustee and administrator, but in 2019, the LAPP became independent of government, with its own sponsor board and corporation, which now acts as the plan’s trustee and administrator. […]
When the Canadian Life and Health Insurance Association rolled out its proposed compensation disclosure guideline in January 2018, it quickly inflamed tensions with group benefits and retirement advisors. The guideline, G19, stipulated that all of the CLHIA’s insurer members begin disclosing to plan sponsors the fees, commissions and bonuses they paid to advisors. Facing backlash […]
Coughlan Home’s manager of human resources talks employee assistance programs, ‘quiet rooms’ and showing appreciation. Q. What top challenges do you face in your role? A. Throughout my 15 years in human resources, I’ve found the biggest challenge was encouraging younger generations to begin planning for their retirement. I try to provide scenarios that will […]