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Editorial: Looking back — and ahead — in an unprecedented year

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

Pension and retirement plan members in Saskatchewan can now designate beneficiaries through electronic means. The provincial government recently passed a series of amendments regarding the electronic handling of legal matters. Bill 56 specifically allows individuals to name beneficiaries electronically for certain types of plans including an employee pension, retirement, welfare or profit-sharing fund or plan, […]

  • By: Staff
  • May 27, 2022 May 27, 2022
  • 15:00
Copyright_Wisawa Chinnacotra_123RF

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

More than a third (36 per cent) of Canadians aged 18 to 25 have already begun planning and saving for retirement, according to a survey by online real estate investment marketplace Fundscraper Capital Inc. “It’s well documented that generation Z and younger millennials have had it much harder than previous generations when it comes to career […]

  • By: Staff
  • March 4, 2022 March 3, 2022
  • 09:00

Despite the financial challenges experienced by Canadians over the course of the coronavirus pandemic, 40 per cent said they’ve continued to save for retirement, according to a new survey by life insurance provider PolicyMe Corp. More than half (54 per cent) of survey respondents said they’re adding to their emergency funds, while 48 per cent […]

  • By: Staff
  • January 17, 2022 January 18, 2022
  • 15:00

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 […]

As the coronavirus pandemic sent the global economy into a tailspin, many Canadians grew increasingly concerned about whether they’d amassed enough savings to weather the financial storm. “We’ve heard the narrative that Canadians are saving like they’ve never saved before,” says Elizabeth Mulholland, chief executive officer of Prosper Canada. “The reality is, when you look […]