CAP market – Benefits Canada.com

Will coronavirus push changes to CAP landscape forward?

mschmit — Fri, 27 Mar 2020 06:00:44 +0000

With the federal government easing the withdrawal requirements for registered retirement income funds in a bid to alleviate the harm to retirees’ portfolios caused by the coronavirus-spurred market crash, the industry is suggesting similar measures for other retirement arrangements. “Canadians who are about to turn money into income will be faced with the decision of […]

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Retirement system must reflect Canadians working longer: report

mschmit — Tue, 24 Mar 2020 05:30:51 +0000

While some may still dream of an early retirement, the world where freedom 55 seemed like a genuine possibility is no longer the world we live in today. However, in some ways, the retirement systems established by Canada’s government don’t reflect the current reality — in order to achieve a financially healthy retirement, Canadians will need to […]

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Replacement income for CAPs hits lowest levels since 2011: report

mschmit — Mon, 22 Apr 2019 11:30:25 +0000

The fourth quarter of 2018 saw the largest decline since 2011 in a retiring member’s ability to create a secure retirement income, according to a report by Eckler Ltd. At the end of 2018, replacement income for women fell to 55 per cent and for men to 56 per cent. The fourth-quarter decline is a result of steep […]

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CAPSA updates guidelines on DC plan payout, responsibilities and advice

mschmit — Thu, 07 Mar 2019 04:30:50 +0000

The Canadian Association of Pension Supervisory Authorities has published an updated version of its guideline No. 8 for defined contribution plans, focusing on three main areas: the payout phase, plan sponsor/administrator responsibilities and advice. Introduced in March 2014, Guideline No. 8 aims to spell out the rights and responsibilities of DC plan administrators, providers and members. It […]

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Portable non-employer retirement benefits could fill gap in pension savings: report

mschmit — Fri, 15 Feb 2019 06:30:41 +0000

Portable non-employer retirement benefits could be a useful tool in addressing the underperformance of the U.S. retirement system as a whole, according to a new report by Common Wealth and the Aspen Institute Financial Security Program. These programs, which would be tied to employment but not to a specific employer, could be sponsored by a number […]

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Pension stakeholders call on feds to remove barriers to longevity risk pooling

mschmit — Mon, 15 Oct 2018 05:20:57 +0000

Seven major pension stakeholders are urging the federal government to make longevity risk-pooling arrangements available to Canadians. The group includes the Association of Canadian Pension Management, the Canadian Life and Health Insurance Association, the Canadian Institute of Actuaries, the Canadian Association of Retired Persons, Common Wealth, the National Institute of Aging and the Pension Investment Association […]

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Retirement program for non-profit sector seeking feedback on plan design

mschmit — Thu, 23 Aug 2018 11:00:04 +0000

The Common Good Retirement Initiative is seeking feedback on the design of a collective retirement plan for Canadian employees in the non-profit and charitable sector. The initiative, which was announced at the end of May 2018 by retirement firm Common Wealth, was initially described as nationally portable, affordable and flexible. Common Wealth intends to have 50 employers committed to the […]

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Use caution when changing benefits to account for CPP enhancements, report warns

mschmit — Mon, 23 Jul 2018 12:15:34 +0000

As the average income replacement rate for capital accumulation plans continues to trend downwards, can employers mitigate this movement with the Canada Pension Plan’s incoming enhancements? According to a new report by Eckler Ltd., CAP replacement rates fell to a new low at March 31, 2018, settling at 58 per cent for men and 56 per cent for women. These […]

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A look at three trends in pension plan design

mschmit — Tue, 03 Jul 2018 04:30:22 +0000

Plan sponsors often say they’re quite happy with their retirement savings plans. But is that position good enough to ensure an organization’s plan is competitive and benefits its plan members? Some of the trends across Canada, as evident from employee requests, reflect the changing needs of the workplace. They include: Group RRSPs or TFSAs with a […]

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Canada’s DC industry thriving despite constant need to tinker

mschmit — Wed, 18 Apr 2018 06:30:05 +0000

While Canada’s defined contribution pension industry faces many challenges, the continuous improvement of offerings from service providers is one of the things that’s working, according to Western University’s Louise Koza. “I think what’s working is we have some very good service providers that are continuously improving their technology, their services, their education and their administration,” said Koza, the […]

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