Retirement – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 29 Nov 2024 20:31:34 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Canadian pension income adding $24.5BN to federal coffers in 2025: report https://www.benefitscanada.com/canadian-investment-review/db-investments/canadian-pension-income-adding-24-5bn-to-federal-coffers-in-2025-report/ Fri, 29 Nov 2024 14:00:43 +0000 https://www.benefitscanada.com/?p=163372 Workplace pension income will add $24.5 billion to federal coffers and $16.8 billion to the provinces in 2025, according to a new report by the Canadian Centre for Policy Alternatives. It found pension income for seniors across Canada is adding $16.9 billion in additional income tax revenue and $2.3 billion in commodity tax revenue, while […]

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]]> UAP supporting financial wellness with retirement toolkit https://www.benefitscanada.com/benefits/health-wellness/uap-supporting-financial-wellness-with-retirement-toolkit/ Fri, 29 Nov 2024 14:00:20 +0000 https://www.benefitscanada.com/?p=163378 UAP Inc. is supporting employees’ financial wellness and retirement readiness with a new retirement toolkit. The toolkit, which launched this week, explains the company’s retirement savings plans and additional post-employment income sources such as Canada and Quebec Pension Plan benefits, as well as information on adjusting to life in retirement. It also includes resources for […]

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]]> Employer-sponsored pension plans supporting increased employee productivity: survey https://www.benefitscanada.com/pensions/retirement/employer-sponsored-pension-plans-supporting-increased-employee-productivity-survey/ Thu, 28 Nov 2024 20:00:06 +0000 https://www.benefitscanada.com/?p=163374 While nine in 10 (85 per cent) employers that reported decreased employee productivity over the past year cited burnout as a major problem, investing in retirement benefits appears to have a positive impact on these issues, according to a new survey by the Angus Reid Group on behalf of the Healthcare of Ontario Pension Plan. […]

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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-108/ Fri, 15 Nov 2024 14:00:24 +0000 https://www.benefitscanada.com/?p=162852 An article on incoming changes to Nova Scotia’s provincial Pension Benefits Act was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Nova Scotia to allow unlocking of pension benefits 2. Alberta government fires AIMCo CEO, board, citing rising costs and poor […]

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]]> Head to head: Are employers’ financial literacy initiatives translating into reality? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-are-employers-financial-literacy-initiatives-translating-into-reality/ Fri, 15 Nov 2024 13:59:53 +0000 https://www.benefitscanada.com/?p=162361 One expert suggests employers bridge their knowledge gap by finding ways to turn education into action, while another says companies’ commitments to ongoing financial literacy is helping to do just that. Roland Chiwetelu (pictured right), associate director of financial wellness, Eckler Ltd. One expert suggests employers bridge their knowledge gap by finding ways to turn […]

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]]> How Meridian’s financial wellness offerings benefit employees, organization as a whole https://www.benefitscanada.com/archives_/benefits-canada-archive/how-meridians-financial-wellness-offerings-benefit-employees-organization-as-a-whole/ Fri, 15 Nov 2024 13:58:33 +0000 https://www.benefitscanada.com/?p=162701 As a financial institution that provides banking and wealth management services to customers, Meridian Credit Union ensures it also offers employees a comprehensive suite of services to support their financial wellness. This includes a defined contribution pension in which staff contribute a mandatory three per cent of annual earnings, with the employer contributing between three […]

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]]> How Mexico’s reformed pension system is improving workers’ retirement security https://www.benefitscanada.com/archives_/benefits-canada-archive/how-mexicos-reformed-pension-system-is-improving-workers-retirement-security/ Fri, 15 Nov 2024 13:54:28 +0000 https://www.benefitscanada.com/?p=162686 Earlier this year, Mexico’s senate approved the creation of a new pension fund to help provide more retirement security for low-income citizens. The reform aims to ensure pensioners receive 100 per cent of their last monthly salary up to roughly 16,777 Mexican pesos (US$975), which is the average monthly wage for workers affiliated with the […]

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]]> How CAPSA’s fee transparency guidance is impacting plan sponsors https://www.benefitscanada.com/pensions/governance-law/how-capsas-fee-transparency-guidance-is-impacting-plan-sponsors/ Thu, 14 Nov 2024 14:00:09 +0000 https://www.benefitscanada.com/?p=162798 The Canadian Association of Pension Supervisory Authorities’ new plan sponsor guidelines surrounding investment fee transparency are a good first step, but require further development to make them more effective, says one expert. “[CAP sponsors are] still trying to understand what this [guidance] means,” says Joseph Bevilacqua, associate partner in Aon’s wealth solutions practice. “Fees can be […]

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]]> Ellement merging with George & Bell Consulting https://www.benefitscanada.com/news/bencan/ellement-merging-with-george-bell-consulting/ Wed, 13 Nov 2024 20:00:57 +0000 https://www.benefitscanada.com/?p=162661 Winnipeg-based Ellement Consulting Group is merging with Vancouver-based George & Bell Consulting Inc. The combined firm, which will operate under the Ellement banner effective Jan. 1, 2025, will consist of 220 employees servicing 250 plan sponsor clients throughout Canada, advising on $3 billion of annual health and welfare payments and premiums and $120 billion of […]

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]]> Nova Scotia to allow unlocking of pension benefits https://www.benefitscanada.com/pensions/governance-law/nova-scotia-to-allow-unlocking-of-pension-benefits/ Mon, 11 Nov 2024 14:00:20 +0000 https://www.benefitscanada.com/?p=162526 The Nova Scotia government is updating the provincial Pension Benefits Act to allow the unlocking of pension benefits. Effective April 1, 2025, plan members aged 55 and older will have a one-time ability to unlock up to 50 per cent of their locked-in funds when transferring to a life income fund. Read: Quebec’s amendment to […]

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