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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 […]

  • By: Kim Siddall
  • November 16, 2022 November 15, 2022
  • 09:00
Editorial

The uniting theme at the 2022 Defined Contribution Plan Summit was financial wellness, a chief concern for any employer that offers a pension plan to its workforce. In particular, with inflation reaching its highest level in four decades and people facing several competing financial priorities, including simple day-to-day expenses, plan sponsors are bringing flexibility to […]

Two-thirds (66 per cent) of employees are willing to take a job with a lower salary and a pension plan than one with a higher salary and no pension, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 1,700 Canadian adults, found while employees close to retirement age […]

  • By: Staff
  • June 24, 2022 June 24, 2022
  • 09:00
NL’s College of Physicians and Surgeons latest employer to join DBplus pension

Pension and retirement plan members in Newfoundland and Labrador can now designate beneficiaries through electronic means. The amendment allows individuals to name beneficiaries electronically for certain types of plans, including a workplace pension, retirement, welfare or profit-sharing fund or plan, a registered retirement income fund, a registered retirement savings plan or a tax-free savings account. […]

  • By: Staff
  • June 10, 2022 June 10, 2022
  • 15:00

Dillon Consulting Ltd. is supporting employees’ financial well-being through a student debt repayment program. The program allows employees to repay student debt by using employer contributions to the company’s deferred profit-sharing plan that match employee contributions to the group registered retirement savings plan, says Tanya Cross, a partner at Dillon Consulting. Read: Indigo to pilot Great-West […]

Contract food services and custodial workers at Canada’s colleges and universities have less access to pensions and paid leave than their in-house colleagues, according to a new report by the Canadian Union of Public Employees. The report, which analyzed employment data from publicly funded post-secondary institutions, found only 23 per cent of contract food services employers […]

  • By: Staff
  • May 13, 2022 May 13, 2022
  • 09:00
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While Canadians nearing retirement age have seen a doubling in the median value of both their assets and net worth since 1999, the prospect of a comfortable retirement remains out of reach for many employees, according to a new report by the C.D. Howe Institute. It found a quarter of Canadians aged 45 to 64 […]

  • By: Staff
  • May 11, 2022 May 11, 2022
  • 15:00

A third (33 per cent) of recently retired Canadians said they retired sooner than they planned and 30 per cent of pre-retirees intend to change their retirement date because of the coronavirus pandemic, according to a new survey by RBC Insurance. It found Canadians are still largely relying on traditional retirement savings tools, such as […]

  • By: Staff
  • May 11, 2022 May 10, 2022
  • 09:00

In 2020, more than 6.2 million Canadians put aside a total of $50.1 billion for their retirement by making contributions to their registered retirement savings plan, according to new data from Statistics Canada. Compared with a year earlier, contributions increased 13 per cent in 2020, while the number of contributors increased 4.9 per cent. In current dollars, the median RRSP contribution […]

  • By: Staff
  • April 4, 2022 April 4, 2022
  • 09:00
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In the fall of 2021, 39-year-old Krista Lehman quit her job as a program assistant at a Vancouver post-secondary institution to take a mental-health break and pursue other career options. When it came to her defined benefit pension plan, her employer’s human resources department provided her with a package that offered her the choice of […]