Capital accumulation plan members who retired in 2024 saw the highest CAP outcomes since the start of the coronavirus pandemic, according to a new report by Eckler Ltd. The consultancy’s latest CAP income tracker found a typical male member retiring at the end of December 2024 achieved a gross income replacement ratio of 66.5 per […]
In 2025, the Association of Canadian Pension Management is focusing on flexible pension plan models amid a backdrop of multiple elections taking place across Canada. Korinne Collins, chief executive officer at the ACPM, says flexibility is needed around decumulation strategies for defined contribution plans and the potential for different income tax treatments for workers looking […]
More than eight in 10 (84 per cent) U.S.-based employer-sponsored retirement plans have at least one likely Employee Retirement Income Security Act red flag from a regulatory and/or fiduciary perspective, according to a new report by consultancy Abernathy Daley 401k Consultants. The report, which analyzed filings for more than 760,000 plans, found 43 per cent […]
The union representing roughly 435 employees at Ivaco Rolling Mills in eastern Ontario has ratified two five-year collective agreements that include pension and benefits gains. The agreements include pension improvements to the defined contribution pension plan, with pension contributions beginning earlier upon completion of probation and employer matches of up to four per cent for […]
In response to proposed legislation that would introduce the option of variable life benefits in Ontario, the Association of Canadian Pension Management is recommending against regulating plan sponsors to disclose an expected rate of return on contributions made to a variable life benefits fund. In an open letter to the provincial Ministry of Finance, the […]
Two-thirds (67 per cent) of employers say there’s currently a shortage of skilled workers in their industry and 58 per cent anticipate a skilled labour shortage over the next five to 10 years, according to Benefits Canada’s 2024 Future of Work Survey. To reverse this trend, nearly three-quarters (72 per cent) of employers cited improving […]
Calgary-based Acera Insurance Services Ltd. is expanding its group benefits division to Saskatchewan through a partnership with Saskatoon-based group benefits and retirement consultancy BMA Group. The deal closed in December and BMA will eventually transition to become Acera Benefits, according to a press release. This transaction marked Acera Insurance’s ninth partnership deal in 2024 and […]
An article on the impact of U.S. President-elect Donald Trump’s tariff threats and Prime Minister Justin Trudeau’s resignation on financial markets was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Financial markets resilient in wake of Trump tariffs threat, […]
Promoting employee financial awareness and retirement readiness amid the rising cost of living is a priority for the Canadian Public Pension Leadership Council in 2025, says Cheldon Angus, co-chair of the CPPLC and chief executive officer of the Winnipeg Civic Employees’ Benefits Program. “More and more these days, employers are prioritizing their financial literacy education for […]
While Prime Minister Justin Trudeau’s resignation is fuelling uncertainty among Canadians regarding the direction of the country, financial markets have been surprisingly resilient in reaction to the news, says Francis Gingras Roy, a senior financial advisor at Manulife Wealth Inc. He notes when Trudeau announced his resignation last Monday, the TSX ended the day pretty flat. […]