automatic enrolment – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 22:24:05 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 What can Canadian DC plans learn from U.S. pension legislation? https://www.benefitscanada.com/events/conference-coverage/what-can-canadian-dc-plans-learn-from-u-s-pension-legislation/ Fri, 10 May 2024 11:52:09 +0000 https://www.benefitscanada.com/?p=154823 Features such as automatic enrolment in 401(k) savings plans are helping U.S. employees become retirement ready, said Mark Iwry, a non-resident senior fellow at the Brookings Institution and a former senior advisor to the U.S. Secretary of the Treasury for national retirement and health policy, during a session at Benefits Canada’s 2024 Defined Contribution Plan […]

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]]> More than £50 billion in U.K. pension benefits at risk of being lost, misplaced: study https://www.benefitscanada.com/pensions/retirement/more-than-50-billion-in-u-k-pension-benefits-at-risk-of-being-lost-misplaced-study/ Mon, 25 Mar 2024 19:00:11 +0000 https://www.benefitscanada.com/?p=153577 More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]

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]]> 43% of U.S. DC pension plan sponsors offering auto-escalation: survey https://www.benefitscanada.com/pensions/cap/43-of-u-s-dc-pension-plan-sponsors-offering-auto-escalation-survey/ Tue, 15 Aug 2023 19:00:01 +0000 https://www.benefitscanada.com/?p=142227 More than two-fifths (43 per cent) of U.S. defined contribution pension plan sponsors say their plan offers automatic escalation, up from 21 per cent in 2013, according to a new survey by J.P. Morgan Asset Management. The survey, which polled more than 700 employers, found nearly two-thirds (61 per cent) said they take a proactive […]

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]]> Fewer Black, Latino employees participating in U.S. workplace retirement plans: report https://www.benefitscanada.com/pensions/retirement/fewer-black-latino-employees-participating-in-u-s-workplace-retirement-plans-report/ Mon, 01 May 2023 13:00:44 +0000 https://www.benefitscanada.com/?p=137133 Just 53 per cent of Black employees and 45 per cent of Latino employees are participating in a U.S. workplace retirement plan, compared to 66 per cent of white employees and 62 per cent of Asian employees, according to a new survey by Voya Financial Inc. The survey, which analyzed data from U.S. workplace retirement plans […]

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]]> Report finds higher member participation in 401(k) plans with auto-enrolment https://www.benefitscanada.com/pensions/cap/report-finds-higher-member-participation-in-401k-plans-with-auto-enrolment/ Wed, 26 Apr 2023 19:00:17 +0000 https://www.benefitscanada.com/?p=137043 U.S. 401(k) plans that feature automatic enrolment continue to yield higher plan member participation rates (86 per cent) than plans without auto-enrolment (37 per cent), according to a new report by T. Rowe Price Group Inc. The report, which analyzed the firm’s 2022 client data, found the adoption of auto-enrolment by 401(k) plan sponsors rose […]

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]]> Survey finds half of U.S. workers want an employer-sponsored retirement plan that offers emergency savings features https://www.benefitscanada.com/pensions/retirement/54-of-u-s-workers-want-an-employer-sponsored-retirement-plan-that-offers-emergency-savings-features-survey/ Mon, 24 Apr 2023 13:00:10 +0000 https://www.benefitscanada.com/?p=136873 More than half (54 per cent) of employees without a workplace retirement savings plan — including 77 per cent of millennials — say they’d participate in an employer-sponsored plan if it offered emergency savings features, according to a new survey by Natixis Investment Managers. The survey, which polled more than 700 U.S. employees, also found nearly three-quarters […]

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]]> 76% of U.S. DC pension plan sponsors offering auto-enrolment: survey https://www.benefitscanada.com/pensions/cap/76-of-u-s-dc-pension-plan-sponsors-offering-auto-enrolment-survey/ Fri, 31 Mar 2023 13:00:38 +0000 https://www.benefitscanada.com/?p=135871 Three-quarters (76 per cent) of U.S. defined contribution pension plan sponsors say their plan offers automatic enrolment, according to a new survey by investment consulting firm Callan. The survey, which polled roughly 100 DC plan sponsors, found the vast majority used auto-enrolment for new hires, while far fewer offered this feature for current employees. Half […]

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]]> A look at the landscape for automatic features in Canadian pension plans https://www.benefitscanada.com/archives_/benefits-canada-archive/a-look-at-the-landscape-for-automatic-features-in-canadian-pension-plans/ Fri, 18 Nov 2022 13:55:12 +0000 https://www.benefitscanada.com/?p=129512 Matching employer contributions in capital accumulation plans are as close to free money as employees can legally get. “You’re not changing your risk — because the money goes to the same fund it would otherwise — and you’re getting two-times the return,” says Eric Monteiro, senior vice-president of group retirement services at Sun Life Financial […]

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]]> Majority of low to moderate income workers would invest in long-term savings plans with incentives: survey https://www.benefitscanada.com/pensions/cap/majority-of-low-to-moderate-income-workers-would-invest-in-long-term-savings-plans-with-incentives-survey/ Tue, 23 Aug 2022 13:00:12 +0000 https://www.benefitscanada.com/?p=125890 The vast majority (90 per cent) of low to moderate income workers say they’d open a long-term savings account if they were offered incentives, according to a new survey by the Defined Contribution Institutional Investment Association and non-profit organization Commonwealth. The survey, which polled nearly 1,000 employees living on low to moderate incomes, found most respondents […]

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]]> Alberta seeking feedback on private sector pension legislation https://www.benefitscanada.com/pensions/governance-law/alberta-seeking-feedback-on-private-sector-pension-legislation/ Thu, 09 Jun 2022 13:00:08 +0000 https://www.benefitscanada.com/?p=122434 The Alberta government is gathering feedback from stakeholders to help inform potential legislative and policy updates for private sector pension laws. The consultation will focus on the Employment Pension Plans Act and the Employment Pension Plans Regulation, according to a press release, which noted Alberta’s private sector pension legislation hasn’t been significantly updated since 2014. […]

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