TFSA – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Employer matching key to supporting young workers’ retirement readiness: report https://www.benefitscanada.com/pensions/retirement/employer-matching-key-to-supporting-young-workers-retirement-readiness-report/ Thu, 11 Apr 2024 13:00:24 +0000 https://www.benefitscanada.com/?p=154158 Employer-sponsored retirement plans that offer matching contributions can help younger workers retire earlier and with more money, according to a new report by Mercer Canada. The report based its findings on a sample worker aged 30 earning $70,000 and with $30,000 of personal debt, using five per cent of their income to either pay down […]

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]]> Q&A with PepsiCo Canada’s Jaye Calder https://www.benefitscanada.com/archives_/benefits-canada-archive/qa-with-pepsico-canadas-jaye-calder/ Fri, 13 Oct 2023 12:53:01 +0000 https://www.benefitscanada.com/?p=145012 The food and beverage company’s manager of pension, benefits and wellness discusses fostering an inclusive and supportive work environment, the importance of flexible benefits and the soothing silence of swimming. Q: What top challenges do you face in your role?  A: In the realm of total rewards, simplification versus personalization is the challenge I experience […]

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]]> Changes to tax rules can improve Canadians’ retirement security: report https://www.benefitscanada.com/pensions/governance-law/changes-to-tax-rules-can-improve-canadians-retirement-security-report/ Fri, 23 Jun 2023 13:00:17 +0000 https://www.benefitscanada.com/?p=140231 Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]

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]]> Half of Canadians planning to contribute to RRSPs despite cost-of-living challenges: survey https://www.benefitscanada.com/pensions/retirement/half-of-canadians-planning-to-contribute-to-rrsps-despite-cost-of-living-challenges-survey/ Wed, 22 Feb 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=134221 Half (51 per cent) of Canadians are planning to contribute to their registered retirement savings plans this year — a substantial increase since last year (18 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,600 adults, found half (51 per cent) said cost of living is […]

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]]> 2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year? https://www.benefitscanada.com/archives_/benefits-canada-archive/2022-cap-suppliers-report-whats-on-cap-sponsors-wish-lists-for-the-coming-year/ Fri, 16 Dec 2022 13:57:05 +0000 https://www.benefitscanada.com/?p=131173 With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]

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]]> Is the concept of financial independence and early retirement truly feasible? https://www.benefitscanada.com/pensions/retirement/is-the-concept-of-financial-independence-and-early-retirement-truly-feasible/ Fri, 18 Nov 2022 14:01:18 +0000 https://www.benefitscanada.com/?p=129982 The FIRE concept — financial independence and retiring early — is gaining traction among younger workers, but as appealing as early retirement may be, it isn’t very realistic given the current economic conditions, according to experts. Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University, notes the population […]

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]]> Editorial: Employers embracing innovation, flexibility in DC plan design https://www.benefitscanada.com/archives_/benefits-canada-archive/editorial-employers-embracing-innovation-flexibility-in-dc-plan-design/ Fri, 12 Aug 2022 13:00:29 +0000 https://www.benefitscanada.com/?p=125240 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 […]

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]]> 75% of Canadian employees believe there’s an emerging retirement crisis: survey https://www.benefitscanada.com/pensions/retirement/75-of-canadian-employees-believe-theres-an-emerging-retirement-crisis-survey/ Fri, 24 Jun 2022 13:00:18 +0000 https://www.benefitscanada.com/?p=123369 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 […]

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]]> NL permitting electronic naming of beneficiaries for pensions, retirement plans https://www.benefitscanada.com/pensions/governance-law/nl-permitting-electronic-naming-of-beneficiaries-for-pensions-retirement-plans/ Fri, 10 Jun 2022 19:00:50 +0000 https://www.benefitscanada.com/?p=122571 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. […]

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]]> Saskatchewan permitting electronic naming of beneficiaries for pensions, retirement plans https://www.benefitscanada.com/pensions/governance-law/saskatchewan-permitting-electronic-naming-of-beneficiaries-for-pensions-retirement-plans/ Fri, 27 May 2022 19:00:46 +0000 https://www.benefitscanada.com/?p=121937 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, […]

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