Despite President Joe Biden’s new student loan forgiveness program, nearly two-thirds (60 per cent) of U.S. employers that currently offer a student loan repayment program won’t be changing their policy, according to a survey by the International Foundation of Employee Benefit Plans. The survey, which polled more than 300 U.S. employers, found the majority (74 […]
The second quarter of 2022 proved difficult for Bâtirente’s diversified funds, according to the organization’s investment strategy manager. “As was the case in the first quarter, Bâtirente’s diversified funds experienced a difficult second quarter performance . . . [with losses correlating with] their risk profile,” said Jean-François Dumais, in a press release. The five diversified […]
An article on the Royal Bank of Canada’s plans for returning employees to the office was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. RBC employees returning to in-office working to foster creativity, collaboration 2. CPPIB backing of grain exporter provides Russia propaganda victory: expert […]
Capital accumulation plan member outcomes saw a modest decline in the second quarter of 2022, as rising interest rates and the corresponding rise in annuity rates helped offset the falling investment markets, according to Eckler Ltd.’s latest CAP income tracker. It found a typical male member retiring at the end of June 2022 achieved a […]
In a panel discussion during Benefits Canada‘s 2022 DC Plan Summit, three defined contribution pension plan sponsors shared how their plans are evolving to ensure retirement savings are flexible, maximize employee engagement and cater to members’ divergent financial needs. During the coronavirus pandemic, Niagara Casinos laid off 96 per cent of employees and its casinos […]
With the 2015 merger of Kraft Foods and H.J. Heinz Co., Kraft Heinz Canada was left with a “mixed bag” of savings and retirement programs. It’s goal for a new streamlined program was a mandatory base plan and a voluntary component with 100 per cent employee participation. “It was important for us to come together […]
Providing tools to help defined contribution pension plan members make solid financial decisions rather than making the decisions for them was the impetus for Canadian Forest Products Inc.’s multi-year financial wellness program, according to Lisa Weber, the company’s pension and benefits advisor, during a session at Benefits Canada‘s 2022 DC Plan Summit. Since Canfor closed […]
With the increased focus on integrating environmental, social and governance factors into pension plans, a new approach by BlackRock Inc. could have a significant impact on many Canadian defined contribution pension plans, group registered retirement savings plans and other types of workplace capital accumulation plans. The money manager recently announced it will be adopting an ESG approach […]
An article on Stelco Inc.’s $1.3 billion annuity buy-in for one of its defined benefit pension plans was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Stelco entering $1.3BN annuity buy-in for DB pension 2. KPMG allowing employees to work remotely from another province, country […]
A quarter of single seniors live below the poverty line in Canada and the problem is getting worse, with employer-sponsored pension plans not accessible to 40 per cent of low-income employees. It’s especially severe among personal support workers, 80 per cent of whom don’t have a workplace pension. The situation is beyond unconscionable, says Tyler […]