auto features – Benefits Canada.com

Majority of U.S. 401(k) plan sponsors making changes by end of year: survey

bwolfe — Wed, 30 Aug 2023 19:00:48 +0000

The majority (95 per cent) of U.S. 401(k) plan sponsors say they intend to change their plan design by the end of the year, according to a new survey by Fidelity Institutional. The survey, which polled more than 1,300 employers, found a quarter said they plan to increase their matching contribution (26 per cent) and […]

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2023 CAP Member Survey: How CAPs are evolving to address changing financial priorities

Jennifer Paterson — Fri, 11 Aug 2023 12:55:33 +0000

With Canadians’ financial priorities shifting alongside a turbulent economic climate, including inflation levels not seen in decades and a never-ending rise in the cost of living, it isn’t surprising capital accumulation plan members’ commitment to retirement savings is taking a hit. Benefits Canada’s 2023 CAP Member Survey found just 41 per cent of respondents rated […]

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2023 Top 100 Pension Funds Report: How to improve retirement outcomes across diverse plan member groups

Jennifer Paterson — Fri, 23 Jun 2023 12:56:55 +0000

At the beginning of April, the OPSEU Pension Trust made a change to a definition in its plan text that will have meaningful implications for plan members with disabled children who need to continue to rely on their parents into adulthood. The organization expanded the definition of a child eligible for survivor benefits to include […]

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Top 5 HR, benefits, pension and investment stories of the week

bwolfe — Fri, 11 Nov 2022 14:00:35 +0000

An article on the strike by Ontario education workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CUPE’s Ontario education workers striking for extended benefits, wage increases 2. Stellantis, Unifor agreement includes pension and retirement gains 3. Sounding Board: How employers can better support employees […]

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CIA supporting going-concern plus regime, auto features in Alberta’s private sector pensions

bwolfe — Mon, 07 Nov 2022 14:00:53 +0000

The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]

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Report finds employer contributions play a significant role in 401(k) plans

bwolfe — Tue, 11 Oct 2022 19:00:37 +0000

The vast majority (87 per cent) of 401(k) retirement plans — covering more than 90 per cent of 401(k) plan members — offer employer contributions, according to a report by BrightScope Inc. and the Investment Company Institute. The report, which analyzed 64,000 large private sector 401(k) plans, found employer contributions represented 31 per cent of […]

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2022 CAP Member Survey: Perceptions of CAPs against a changing economic landscape

Jennifer Paterson — Fri, 16 Sep 2022 12:56:32 +0000

After a tough couple of years, Canadians continue to face several challenges against an increasingly turbulent economic landscape. While most coronavirus restrictions were lifted in late spring 2022, the seventh wave of the pandemic arrived in July alongside rising inflation, which is compounding prices from the gas pump to the grocery store. Though the 2022 […]

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Two years later: Canada’s DB, DC pension plans weathering the pandemic

bwolfe — Mon, 07 Mar 2022 14:00:50 +0000

Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]

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CLHIA’s Ontario budget submission highlights drug access, inflexible pension plans

mschmit — Mon, 26 Oct 2020 11:15:14 +0000

In its 2020 budget submission to the Ontario government, the Canadian Life and Health Insurance Association is highlighting a lack of access to affordable prescription drugs and inflexible pension plans. With respect to prescription drugs, the CLHIA noted it supports the federal Patented Medicine Prices Review Board reforms, which were introduced on Friday. “It is crucial that the […]

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2020 Top 50 DC Plans Report: Member behaviour under microscope amid pandemic

mschmit — Fri, 16 Oct 2020 04:56:06 +0000

Defined contribution pensions are taking a bumpy ride in the coronavirus pandemic, with plan sponsors and their members facing volatile stock markets, financial uncertainty and interruptions to business as usual. Whether related to plan design, investment options, decumulation or overall financial well-being and education, what issues are taking the spotlight this year and what changes […]

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