Pension and retirement plan members in Newfoundland and Labrador can now designate beneficiaries through electronic means. The amendment allows individuals to name beneficiaries electronically for certain types of plans, including a workplace pension, retirement, welfare or profit-sharing fund or plan, a registered retirement income fund, a registered retirement savings plan or a tax-free savings account. […]
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. […]
The Saskatchewan Pension Plan is allocating parts of its balanced fund to Ninepoint Partners and Fengate Asset Management in a bid to further diversify its portfolio. Ninepoint has received a private debt allocation of 10 per cent of the SPP’s balanced fund and Fengate will take on a 10 per cent infrastructure allocation, according to a press […]
While there’s broad interest in environmental, social and governance factors, the majority of U.S. defined contribution pension plan consultants said their plan sponsor clients are looking for further clarity on the Department of Labor’s proposed guidelines before incorporating ESG into their investment options, according to a new survey by the Schaus Group and T. Rowe […]
Retirees with defined benefit pension plans are less likely to draw down their savings to cover their spending than those with a defined contribution plan, according to a new report by the University of Michigan. It found while most employees born between 1920 and 1940 had access to a DB plan, this percentage dropped dramatically […]
Scotiabank is supporting its employees’ financial well-being with a week of information sessions in June. Ayman Alvi, director of global benefits at Scotiabank, says the sessions taking place the week of June 20 will focus on all aspects of financial well-being, including the bank’s pension plan and other financial benefits available to employees. “These events have […]
Pension and retirement plan members in Saskatchewan can now designate beneficiaries through electronic means. The provincial government recently passed a series of amendments regarding the electronic handling of legal matters. Bill 56 specifically allows individuals to name beneficiaries electronically for certain types of plans including an employee pension, retirement, welfare or profit-sharing fund or plan, […]
An article on how employers can create health benefits and retirement plans for gig 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. Expert panel: How employers can design health benefits, retirement plans for gig workers 2. Hitachi, Unifor agreement includes DB, DC pension […]
The union representing employees at a Hitachi Construction Truck Manufacturing Ltd. plant in Guelph, Ont. has ratified an agreement that includes pension and benefits gains. Unifor Local 1917 Hitachi unit members voted 95 per cent in favour of the three-year collective agreement, which includes a $0.25 contribution increase to the defined benefit pension plan, from […]
Whether they’re delivering takeout, chauffeuring passengers, or fixing leaky sinks, most gig workers in Canada don’t get benefits. Classified as independent contractors rather than employees, they’re excluded from employer contributions to Canada Pension Plan and Employment Insurance, they may not be protected under worker’s compensation and they can’t participate in tax-advantaged benefits programs like registered […]