With the provision of defined benefit pensions on the decline and the subsequent growth in defined contribution plans, Canada’s retirement savings landscape is in a significant state of flux. But one of the underlying implications of the move to defined contribution pensions is the consequent shift of responsibility. While the defined benefit plan member traditionally […]
With the wave of robotics and artificial intelligence anticipated to wash over the workplace, keeping pace with it all could require the attention of a dedicated, high-level individual. Given the breadth of the expected changes, some people are touting the idea of having a chief automation officer to oversee the burgeoning area of artificial intelligence. […]
With the third phase of the Client Relationship Model, Phase 2 (CRM2) rules around fee disclosure in Canada now in effect and new regulatory actions in countries such as Britain, Australia and the United States dealing with compensation in the financial services industry, what’s the landscape for transparency around workplace investments in this country? It’s […]
When it started hiring employees for its Canadian office a few years ago, global media intelligence company Meltwater sought outside assistance for its search for a competitive benefits package that offered 100 per cent drug and dental coverage, life and disability insurance, a registered retirement savings plan and other health benefits. Since Meltwater’s Canadian workforce […]
Group registered retirement savings plans were in the hot seat when the Ontario government declared they wouldn’t be comparable for the purposes of the Ontario Retirement Pension Plan. But now that Ontario is backing away from the ORPP after the June agreement to enhance the Canada Pension Plan, what’s the impact on group RRSPs? The […]
Median solvency ratio drops on UK vote: Mercer
The solvency ratio of a typical Canadian pension plan has fallen by almost three per cent since the majority of Britain voted to leave the European Union last week, according to the Mercer Pension Health Index. The median solvency ratio of the pension plans of Mercer clients stood at 82 per cent on June 27, […]
Ottawa has reached an agreement in principle with most of the provinces to expand the Canada Pension Plan for the first time in nearly 20 years. “It’s an exciting time for retirement. The finance minister and provinces were able to come in together to provide a national solution for Canadians,” says Jean-Philippe Provost, leader of Mercer’s […]
While some employers have responded to employee requests for more workplace flexibility by offering unlimited vacation time, professional services firm KPMG has taken a different tactic. It allows its staff to buy extra vacation time. Canadian employees at KPMG get three to five weeks of vacation a year, depending on years of service. But those […]
This year is shaping up to be a watershed year for solvency funding reform, with funding ratios on the decline and a growing clamour to revise the rules by which sponsors must keep their defined benefit pension plans in the black. While a temporary spike in Canadian 10-year bond yields had arrested and reversed a […]