While a majority (87 per cent) of U.S. employees believe it’s a good idea to review their workplace retirement savings plan during their company’s open enrolment period, just 44 per cent say they’ll review how much they contribute to their plan, according to a new survey released by Corebridge Financial Inc. The survey, which polled […]
The food and beverage company’s manager of pension, benefits and wellness discusses fostering an inclusive and supportive work environment, the importance of flexible benefits and the soothing silence of swimming. Q: What top challenges do you face in your role? A: In the realm of total rewards, simplification versus personalization is the challenge I experience […]
Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]
U.S. workers forecast they’ll need an average $4,940 monthly income to enjoy a comfortable retirement, according to a new survey by Schroders. The survey, which polled roughly 2,000 employees, found a third (32 per cent) believe they’ll need to replace between 50 per cent and 74 per cent of their final paycheque with other sources […]
With the Muslim population steadily growing in Canada, employers that offer defined contribution pension plans can avoid unintentionally creating a pension gap by providing these members with access to retirement savings solutions that align with their faith. Under Shariah law, Muslims can’t hold investments that would bring social or environmental harm, such as shares in […]
Predictions of the demise of defined benefit pension plans are premature. The reality is DB is still alive and well in the public sector, with a growing number of multi-employer plans making the promise of financial certainty in retirement provided by DB pensions available to private sector employers of all sizes. What’s under threat is […]
Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]
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 […]
Equitable Bank’s 2022 Workplace Benefits Awards win is empowering employees to ask for more financial wellness benefits and to recognize the full range of resources available to them, says Madison Dickson, the bank’s human resources coordinator. “The win enhanced our employee experience because more employees feel comfortable coming up to [our team] and saying, ‘I […]
Just a third (34 per cent) of U.S. small- and medium-sized employers say they offer retirement benefits, according to a new survey by Fidelity Investments. The survey, which polled more than 500 SMEs, found that, among respondents that don’t offer a retirement plan, half (48 per cent) said they can’t afford to, while a fifth […]