capital accumulation plans – Benefits Canada.com

How Meridian’s financial wellness offerings benefit employees, organization as a whole

Sadie Janes — Fri, 15 Nov 2024 13:58:33 +0000

As a financial institution that provides banking and wealth management services to customers, Meridian Credit Union ensures it also offers employees a comprehensive suite of services to support their financial wellness. This includes a defined contribution pension in which staff contribute a mandatory three per cent of annual earnings, with the employer contributing between three […]

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38% of U.S. institutional investors incorporating ESG into investment decisions: survey

bwolfe — Thu, 14 Nov 2024 16:00:29 +0000

Roughly two-fifths (38 per cent) of U.S. institutional investors say they incorporate environmental, social and governance factors into investment decisions, according to a new survey by Callan. The survey — which polled roughly 90 institutional investors, including public and corporate defined benefit and defined contribution pension plans, as well as endowments and foundations — found […]

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How CAPSA’s fee transparency guidance is impacting plan sponsors

bwolfe — Thu, 14 Nov 2024 14:00:09 +0000

The Canadian Association of Pension Supervisory Authorities’ new plan sponsor guidelines surrounding investment fee transparency are a good first step, but require further development to make them more effective, says one expert. “[CAP sponsors are] still trying to understand what this [guidance] means,” says Joseph Bevilacqua, associate partner in Aon’s wealth solutions practice. “Fees can be […]

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2024 DC Investment Forum: Young Canadians’ retirement savings at mercy of housing market, government inaction

bwolfe — Wed, 06 Nov 2024 12:59:47 +0000

Young Canadian employees are facing a series of headwinds stemming from rising housing costs and decades of inaction by the federal government to support retirement savings, said Paul Kershaw, founder of not-for-profit organization Generation Squeeze and a policy professor at the University of British Columbia, during the keynote session at Benefits Canada’s 2024 Defined Contribution […]

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2024 DC Investment Forum: Panel: How employers are supporting plan members’ investment decisions amid rising cost of living

bwolfe — Wed, 06 Nov 2024 12:51:23 +0000

The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]

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CAP member outcomes continue to rise in Q3 2024: report

bwolfe — Mon, 04 Nov 2024 20:00:35 +0000

Despite declining annuity rates, Canadian capital accumulation plan members retiring at the end of September experienced some of the best outcomes in more than 13 years, 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 September 2024 achieved a gross […]

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Ontario to consult on variable life benefits, finalizes target-benefit framework

bwolfe — Thu, 31 Oct 2024 13:00:45 +0000

In its fall economic statement on Wednesday, the Ontario government said it plans to consult with pension industry stakeholders on the possibility of offering variable life benefits to employees in the province. In 2021, the federal government made amendments to the federal Income Tax Act to permit Canadian jurisdictions to regulate this new pension option, […]

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CAA Club Group wins award for holistic, data-driven wellness approach

bwolfe — Thu, 31 Oct 2024 13:00:44 +0000

CAA Club Group’s holistic and data-driven approach to employee well-being led to a win in the Health/Wellness Program category for employers with more than 1,000 employees at Benefits Canada’s 2024 Workplace Benefits Awards on Oct. 18. This is the second year in a row that CAA has won the award. “We know that we do […]

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Air Canada, ALPA agreement includes multiple benefits gains

Sadie Janes — Thu, 24 Oct 2024 19:00:22 +0000

The union representing more than 5,200 Air Canada pilots has ratified a four-year collective agreement that includes multiple benefits gains, avoiding a possible strike. The agreement includes physiotherapy coverage of up to $5,000 a year per plan member and lifetime coverage for fertility drugs up to $10,000. Employees will also have a choice between $500 […]

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CAAT pension plan’s optional savings account allowing members to consolidate retirement savings

bwolfe — Thu, 24 Oct 2024 13:00:59 +0000

A new retirement savings vehicle could benefit members of the Colleges of Applied Arts and Technology’s pension plan by streamlining investment choice and maximizing their personal retirement savings, says Jason Vary, president of Actuarial Solutions Inc. This month, the CAAT pension plan launched an optional savings account that allows plan members to transfer in their […]

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