Capital accumulation plans – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 14 Aug 2024 00:32:26 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 How employers can support working grandparents’ financial wellness, retirement readiness https://www.benefitscanada.com/benefits/health-wellness/survey-finds-working-retired-canadian-grandparents-risking-financial-future-to-support-family/ Fri, 09 Aug 2024 13:00:03 +0000 https://www.benefitscanada.com/?p=159070 Working grandparents who are providing financial support to children and/or grandchildren are risking their own plans for retirement, says Craig Bannon, director of financial planning centre of expertise at the Royal Bank of Canada. “[They might need to] delay their retirement to extend their earning years or continue to work on a part-time basis in […]

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]]> Head to head: Is it time to retire the term ‘retirement?’ https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-is-it-time-to-retire-the-term-retirement/ Fri, 09 Aug 2024 12:59:04 +0000 https://www.benefitscanada.com/?p=158571 One actuary says social and technological factors are changing the concept of retirement, while another notes the fundamentals remain the same. Michel St-Germain, retired actuary, fellow and past president of the Canadian Institute of Actuaries Yogi Berra once said: “The future ain’t what it used to be.” Millennials will be retiring in 25 years, but not […]

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]]> 2024 Consultants Report: Is there an inherent conflict of interest when consulting firms consolidate? https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-consultants-report-is-there-an-inherent-conflict-of-interest-when-consulting-firms-consolidate/ Fri, 09 Aug 2024 12:57:10 +0000 https://www.benefitscanada.com/?p=158602 The consolidation of firms within the pension and benefits industries could pose a threat because there’s less choice available in terms of service-providers, says Susan G. Seller, a pension and benefits lawyer at Bennett Jones LLP. “I think the evolution of the services they offer . . . poses a particular challenge for employers to […]

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]]> What can the Canadian pension industry learn from U.S. CAP litigation? https://www.benefitscanada.com/archives_/benefits-canada-archive/what-can-the-canadian-pension-industry-learn-from-u-s-cap-litigation/ Fri, 09 Aug 2024 12:53:28 +0000 https://www.benefitscanada.com/?p=158574 While lawsuits against Canadian capital accumulation plans are virtually non-existent, U.S. pension litigation holds several lessons for plan sponsors that are based north of the 49th Parallel, says Mitch Frazer, a pension lawyer and managing partner at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo. “We don’t have these lawsuits occurring [in Canada], but it does […]

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]]> Ontario’s proposed amendment to succession law could create confusion around pension matters: ACPM https://www.benefitscanada.com/pensions/governance-law/ontarios-proposed-amendments-to-succession-law-could-create-confusion-around-pension-matters-acpm/ Wed, 07 Aug 2024 19:00:00 +0000 https://www.benefitscanada.com/?p=158470 The Association of Canadian Pension Management is urging the Ontario government to ensure its proposed amendment to the Succession Law Reform Act doesn’t introduce unintended confusion or ambiguities that would make it challenging for pension plan sponsors, administrators and trustees to carry out their duties. In an open letter, the ACPM said the language of the […]

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]]> What should employers know about Quebec’s pension legislation? https://www.benefitscanada.com/pensions/governance-law/what-should-employers-know-about-quebecs-pension-legislation/ Fri, 02 Aug 2024 13:00:48 +0000 https://www.benefitscanada.com/?p=158693 Businesses that are planning to establish themselves in Quebec by way of expansion or acquisition should be aware of some unique aspects of the province’s pension and benefits laws. Employers are required to make a voluntary retirement savings plan available to their employees. In addition, provincial legislation prohibits ‘orphan’ or ‘grandfathering’ clauses that distinguish pension […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-93/ Fri, 02 Aug 2024 13:00:13 +0000 https://www.benefitscanada.com/?p=158692 An article detailing how Canada’s exemplary pension regulatory system is helping to safeguard plans from mismanagement was the most-read story on BenefitsCanada.com this week. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Culture of compliance prevents mismanagement, conflict at Canadian pension funds: expert 2. OPB making key appointments […]

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]]> LCBO, OPSEU agreement includes multiple benefits gains https://www.benefitscanada.com/benefits/health-benefits/lcbo-opseu-agreement-includes-multiple-benefits-gains/ Tue, 30 Jul 2024 13:00:51 +0000 https://www.benefitscanada.com/?p=158478 The union representing employees of the Liquor Control Board of Ontario has ratified a three-year collective agreement that includes multiple benefits gains, ending a two-week strike. The agreement includes increases in coverage for mental-health services for up to 90 per cent of the total cost of the prescribed plan of treatment, to a combined annual […]

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]]> Demand for in-plan annuity options growing among U.S. workers, employers: report https://www.benefitscanada.com/pensions/retirement/demand-for-in-plan-annuity-options-growing-among-u-s-workers-employers-report/ Mon, 29 Jul 2024 19:00:40 +0000 https://www.benefitscanada.com/?p=158505 Seven in 10 U.S. workers between the ages of 40 and 80 with at least $100,000 in investable assets say they’d be “very” or “somewhat” likely to select an in-plan annuity option if it were available within their employer-sponsored retirement savings plan, according to a new report by LIMRA. It also found younger plan participants […]

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]]> 51% of U.S. women entering peak retirement years have less than $100k saved: survey https://www.benefitscanada.com/pensions/retirement/51-of-u-s-women-entering-peak-retirement-years-have-less-than-100k-saved-survey/ Thu, 25 Jul 2024 19:00:16 +0000 https://www.benefitscanada.com/?p=158361 Half (51 per cent) of women in the U.S. aged 65 who are entering their peak retirement years have less than $100,000 saved, with the percentage rising (67 per cent) among single women, according to a new survey by Artemis Strategy Group on behalf of non-profit the Alliance for Lifetime Income. The survey, which polled more than 2,500 consumers between […]

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