annuities – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Mon, 15 Jul 2024 20:34:28 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 Global Investment Conference: A look at evolving retirement trends https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2024-global-investment-conference-a-look-at-evolving-retirement-trends/ Mon, 10 Jun 2024 11:49:40 +0000 https://www.benefitscanada.com/?p=156217 During a panel discussion at the Canadian Investment Review’s 2024 Global Investment Conference in April, three pension plan sponsors shared their perspective on plan design and the changing patterns for employees close to retirement. Nearly a decade ago, Via Rail Canada Inc. began allowing payments of lump sums to individuals up to age 65 to […]

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]]> Competitive pension risk transfer costs increase from 100.3% to 100.9% in April: report https://www.benefitscanada.com/canadian-investment-review/db-investments/competitive-pension-risk-transfer-costs-increase-from-100-3-to-100-9-in-april-report/ Tue, 28 May 2024 13:00:36 +0000 https://www.benefitscanada.com/?p=156100 The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 100.3 per cent of a plan’s accounting liabilities in March to 100.9 per cent in April, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and annuity purchase composite […]

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]]> CAP member outcomes increasing in Q1 2024: report https://www.benefitscanada.com/pensions/cap/cap-member-outcomes-increasing-in-q1-2024-report/ Thu, 16 May 2024 19:00:56 +0000 https://www.benefitscanada.com/?p=155663 Capital accumulation plan members saw a slight uptick in their plan outcome in the first quarter of 2024, as annuity rates rebounded to levels comparable to those from the third quarter of 2023 and gross income replacement ratios remained at multi-year highs, according to a new report by Eckler Ltd. The consultancy’s latest CAP income […]

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]]> A look at the SPP’s evolving investment, decumulation options https://www.benefitscanada.com/events/conference-coverage/a-look-at-the-spps-evolving-investment-decumulation-options/ Fri, 10 May 2024 11:53:05 +0000 https://www.benefitscanada.com/?p=154815 From its roots as a retirement plan for Saskatchewan farmers, the Saskatchewan Pension Plan has grown over the past four decades to accommodate Canadians from all provinces and walks of life, said Shannan Corey, the plan’s executive director, during a session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. “It’s really meant to […]

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]]> 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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]]> Expert panel: How DC plan members can hedge longevity risk for more effective decumulation https://www.benefitscanada.com/pensions/cap/expert-panel-how-dc-plan-members-can-hedge-longevity-risk-for-more-effective-decumulation/ Tue, 05 Mar 2024 14:00:59 +0000 https://www.benefitscanada.com/?p=152555 Retiring baby boomers are in an era of decumulation anxiety, as they convert their pension assets into income that they fear won’t hold up over the entirety of their retirement. The decumulation problem is complex for defined contribution pension plan sponsors because it involves transferring lump sum pension assets to retirees who may lack investment […]

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]]> Fewer than 40% of Black Americans say they’ve saved enough for retirement: survey https://www.benefitscanada.com/pensions/retirement/fewer-than-40-of-black-americans-say-theyve-saved-enough-for-retirement-survey/ Fri, 16 Feb 2024 14:00:38 +0000 https://www.benefitscanada.com/?p=152051 Fewer than four in 10 Black Americans say they’ve saved or are saving enough for retirement according to a new survey by LIMRA. The survey, which polled 3,000 employees, also found Black Americans were less likely than the general population to have invested in a workplace retirement account (37 per cent compared to 46 per […]

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]]> Competitive pension risk transfer costs declined from 101.8% to 100.5% in December: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/competitive-pension-risk-transfer-costs-declined-from-101-8-to-100-5-in-december-report/ Thu, 15 Feb 2024 14:00:06 +0000 https://www.benefitscanada.com/?p=151954 The estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 101.8 per cent of a plan’s accounting liabilities in November to 100.5 per cent of those liabilities in December, according to Milliman Inc.’s latest pension buyout index. The index uses the FTSE above median AA curve and […]

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]]> What are the issues for savings when mental health becomes a burden in retirement? https://www.benefitscanada.com/archives_/benefits-canada-archive/what-are-the-issues-for-savings-when-mental-health-becomes-a-burden-in-retirement/ Fri, 09 Feb 2024 13:56:03 +0000 https://www.benefitscanada.com/?p=151405 Since decreased cognition can impact retirees’ ability to make sound decisions, the Canadian Union of Public Employees urges its members to discuss financial matters with their families long before exiting the workforce. “If we wait until we’re in distress, we either make very bad decisions or we don’t make any decisions at all, which can […]

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]]> FSRA’s proposed guidance on retroactive adverse amendments inconsistent with case law, Pension Benefits Act: ACPM https://www.benefitscanada.com/pensions/governance-law/fsras-proposed-guidance-on-retroactive-adverse-amendments-inconsistent-with-case-law-pensions-benefits-act-acpm/ Mon, 05 Feb 2024 14:00:12 +0000 https://www.benefitscanada.com/?p=151552 The Financial Services Regulatory Authority of Ontario’s revised proposed guidance on retroactive adverse amendments for pension plan administrators is inconsistent with existing case law, the wording of the Pension Benefits Act and the principles of statutory interpretation, said the Association of Canadian Pension Management, in an open letter. The FSRA’s proposed guidelines aim to provide greater […]

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