What’s in a name? A pension by any other name would smell as sweet — or would it? I started writing this month’s Pension Feature as an exercise to sift through some of the terms used by the pension industry to describe the different types of plans, but also to answer the question: Does the […]
More than 54 per cent of 401(k) plan sponsors say they prefer to keep their retired members’ assets in their plan, a notable increase from 26 per cent in 2019, according to a new survey by Cerulli Associates. Looking specifically at pension plans intermediated by institutional investment consultants, 35 per cent of respondents said they […]
Three-quarters (76 per cent) of U.S. defined contribution pension plan sponsors say their plan offers automatic enrolment, according to a new survey by investment consulting firm Callan. The survey, which polled roughly 100 DC plan sponsors, found the vast majority used auto-enrolment for new hires, while far fewer offered this feature for current employees. Half […]
The Pension Investment Association of Canada is praising the Canadian Association of Pension Supervisory Authorities for addressing the regulatory inconsistencies facing Canada’s defined contribution pension plan sponsors in its draft strategic plan for 2023-2026. “We commend CAPSA for its achievements in engaging with stakeholders to consider evolving regulatory risks and [capital accumulation plan] guideline development,” […]
Traditionally, Chinese workers have relied on two pillars of income in retirement — the basic state pension and employer-sponsored plans open to employees in certain sectors. However, in late 2022, the Chinese government poured some concrete into the mould of a third pillar, unveiling the details of a previously announced private pension scheme. Under the […]
The Association of Canadian Pension Management is encouraging the Canadian Association of Pension Supervisory Authorities to prioritize decumulation in its draft 2023-2026 strategic plan. In an open letter to the CAPSA, the ACPM recommended the strategic plan address all potential decumulation income sources beyond defined contribution pension assets, noting that, while a focus on these […]
Demand for international pensions and savings vehicles is continuing to grow as employers try to optimize their benefits packages for different groups within their global workforce, according to a new survey by WTW. Its 15th annual international pension plan survey, which covered more than 1,000 international pension and savings plans sponsored by 955 organizations, found […]
Defined contribution pension plan providers and advisors say plan sponsors should offer and support in-plan decumulation options, according to a new survey by PIMCO Canada Corp. The survey, which polled 12 DC plan providers and advisors, found more than half (53 per cent) of respondents said their plan sponsor clients haven’t considered implementing in-plan decumulation options, […]
Private sector pension plans could realize higher rates of return and produce lifetime income if they followed a model similar to their public sector counterparts, said Keith Ambachtsheer, executive in residence at the University of Toronto’s Rotman School of Management and a senior fellow at the National Institute on Ageing at Toronto Metropolitan University, during a […]
The Financial Services Regulatory Authority of Ontario is promoting retirement planning with its inaugural Pension Awareness Day on Feb. 16. Through the event, the FSRA is aiming to spark conversations about retirement savings and inspire employees to take full advantage of employer-sponsored pension plans, says Caroline Blouin, executive vice-president of pensions at the FSRA, noting […]