Pressure mounts on pension industry to manage longevity risk.
By the end of January, there will be enough new retirees to fill the Air Canada Centre, Jean-Philippe Provost, senior partner and wealth business leader at Mercer, said at an event in Toronto today. Currently, 5,000 Canadian workers retire each week, a number expected to jump to 8,000 by 2020. While retirees can expect to live, on average, […]
As Canada’s population ages and concerns about retirement income adequacy mount, employers will need to not only reassess their pension and benefits programs but also look at how they can manage changing workforce demographics. The number of older Canadians in the job market continues to increase, according to a recent Statistics Canada labour force survey. […]
When it comes to the cost of health benefits in 2017 and beyond, it’s no surprise industry experts are projecting increases across the board, from five to eight per cent for dental plans and up to 20 per cent for long-term disability coverage. So what are the trends for the coming year for the various […]
Panel discussion on the challenges and benefits of annuities.
In December, a Mercer report found the median solvency ratio for Canadian pension plans increased from 85 per cent at the end of the third quarter of 2016 to 93 per cent at the end of the fourth quarter. Have your say: Do you believe pension solvency rates will continue to improve this year? Similarly, in […]
The Ontario Teachers’ Pension Plan has re-appointed Bill Chinery and John Murray to its board for two-year terms commencing Jan. 1, 2017, as well as re-appointing Jean Turmel to another two-year term as the board’s chair. Murray has 35 years of experience as a global macro-economist and was the deputy governor of the Bank of […]
While Canada’s retirement industry is in a state of flux as the country prepares for an enhanced Canada Pension Plan, the market for capital accumulation plans remains a relatively unshakeable and consistent piece of the country’s retirement savings puzzle. In fact, throughout — and despite — the debates over issues such as the CPP and […]
One-quarter (25 per cent) of employers feel their employees have a poor overall understanding of their defined contribution pension or group registered retirement savings plan, according to Benefits Canada’s 2016 CAP Member Survey. The finding is a very slight improvement on the 2014 survey, when 27 per cent of respondents felt the same way. However, […]
Employers and employees have very different views on who bears the responsibility for ensuring employees retire successfully, according to Benefits Canada’s 2016 CAP Member Survey. The survey found a vast majority (96 per cent) of employer respondents believe it’s their employees’ responsibility to take an active role in their capital accumulation plans to ensure they […]