Technology plays an increasingly important role as defined contribution pension plan sponsors seek to deploy decumulation support and retirement advice at scale, said Jean-Michel Lavoie, vice-president of strategy and market development for group retirement services at Sun Life Financial Inc. (pictured right), during a session at Benefits Canada’s 2024 DC Plan Summit in February. The […]
Three-quarters (74 per cent) of U.S. defined contribution pension plan sponsors say they’ll review plan fees throughout 2024, according to a new survey by investment consulting firm Callan. The survey, which polled more than 130 DC plan sponsors, found that half of respondents said they’re likely to move to lower-cost investment vehicles in 2024, up […]
In anticipation of 25 per cent to 35 per cent growth in Canada by the end of 2024, restaurant chain Chipotle Mexican Grill Inc. is making staff development a key part of its attraction and retention strategy. This focus on employee development has contributed to an internal promotion rate of 87 per cent and has led […]
In its 2024 budget on Tuesday, the federal government announced a new working group dedicated to encouraging increased domestic investments by Canadian institutional investors. Former Bank of Canada governor Stephen Poloz is being tasked to lead an organization that will identify priority investment opportunities in the country for the more than $3 trillion held by […]
Employer-sponsored retirement plans that offer matching contributions can help younger workers retire earlier and with more money, according to a new report by Mercer Canada. The report based its findings on a sample worker aged 30 earning $70,000 and with $30,000 of personal debt, using five per cent of their income to either pay down […]
Nearly half (47 per cent) of U.S. millennials are moderately confident in their ability to accumulate enough retirement savings, according to a new survey by software company Iralogix Inc. The survey, which polled more than 500 workers between the ages of 28 and 43, found 29 per cent said they have no confidence in their […]
More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]
Employees of Candu Energy Inc., Canadian Nuclear Laboratories and Global First Power are joining the Colleges of Applied Arts and Technology’s DBplus pension plan. Unionized members of Candu and CNL were previously in a defined contribution pension plan, while employees of Global First Power were enrolled in a group registered retirement savings plan, according to […]
Clear and flexible regulations that reflect the nature and diversity of target-benefit plans would allow these plans to thrive, according to a new report from the C.D. Howe Institute. The report analyzed data collected from 29 target-benefit plans registered in British Columbia, which was the first province to implement these plans. Read: Report finds disconnect […]
Canadian employees who rent or who have mortgage payments are managing economic pressures — like high interest rates and the rising cost of living — by putting off saving for retirement, according to a new survey by Co‑operators Financial Services Ltd. The survey, which polled 1,500 Canadian employees, found 77 per cent of renters said they […]