COLA – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Mon, 04 Nov 2024 20:00:35 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 GreenShield, Unifor agreement includes pension, benefits gains https://www.benefitscanada.com/benefits/health-benefits/greenshield-unifor-agreement-includes-pension-benefits-gains/ Fri, 03 May 2024 13:00:16 +0000 https://www.benefitscanada.com/?p=155133 The union representing more than 600 employees at GreenShield Canada in Toronto and Windsor, Ont. has ratified a three-year collective agreement that includes pension and benefits gains, ending a strike that began on March 1. The agreement includes a $1.50 increase to the defined benefit pension plan for each year, bringing employees from a $71 […]

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]]> Stellantis, Unifor agreement includes transition to CAAT DBplus pension plan https://www.benefitscanada.com/pensions/defined-benefit-pensions/stellantis-unifor-agreement-includes-transition-to-caat-dbplus-pension-plan/ Tue, 14 Nov 2023 14:00:31 +0000 https://www.benefitscanada.com/?p=147022 The union representing 8,200 Stellantis employees has ratified a three-year collective agreement that includes pension gains. On Jan. 1, 2025, employees hired on or after Sept. 19, 2016 and currently participating in the company’s defined contribution pension plan will be enrolled in the Colleges of Applied Arts and Technology’s DBplus pension plan. For plan members […]

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]]> Metro, Unifor agreement includes pension, benefits gains https://www.benefitscanada.com/benefits/health-benefits/metro-unifor-agreement-includes-pension-benefits-gains/ Thu, 07 Sep 2023 13:00:11 +0000 https://www.benefitscanada.com/?p=143028 The union representing 3,700 frontline grocery workers at 27 Metro Inc. stores across the Greater Toronto Area has ratified a collective agreement that includes pension and benefits gains. The agreement was reached following a month-long strike by workers at the 27 stores. It includes an enhanced future service pension credit for full-time workers, increasing by $2 to […]

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]]> CUPE, Memorial University agreement includes fertility treatment clause, gender transition policy https://www.benefitscanada.com/benefits/health-benefits/cupe-memorial-university-agreement-includes-fertility-treatment-clause-gender-transition-policy/ Mon, 31 Jul 2023 13:00:50 +0000 https://www.benefitscanada.com/?p=141438 The Canadian Union of Public Employees Local 4554 at Memorial University and the university’s students’ union are ratifying a new four-year collective agreement that includes improvements to employees’ benefits and pay. The agreement includes a new fertility treatment clause that provides time off and financial support for employees seeking treatment, since there’s a lack of fertility […]

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]]> More than half of U.S. women don’t feel financially secure: survey https://www.benefitscanada.com/pensions/retirement/more-than-half-of-u-s-women-dont-feel-financially-secure-survey/ Mon, 29 May 2023 13:00:35 +0000 https://www.benefitscanada.com/?p=138918 More than half of U.S. women say they aren’t financially secure, a percentage that increases to 77 per cent among low-income women, according to a survey by Public Opinion Strategies and Lake Research Partners on behalf of the National Council on Aging and the Women’s Institute for a Secure Retirement. The survey, which polled more […]

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]]> Workplace pension plans rarely providing adequate retirement income for U.S. public employees: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/workplace-pension-plans-rarely-providing-adequate-retirement-income-for-u-s-public-employees-report/ Tue, 13 Dec 2022 14:00:01 +0000 https://www.benefitscanada.com/?p=131123 Workplace pension plans alone aren’t providing adequate retirement income for U.S. government employees, according to a new report by the National Institute on Retirement Security and Aon. It found U.S. state and local employees in a typical public defined benefit pension plan need to save roughly four to six per cent of their salary on their […]

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]]> DC plan members nearing retirement need employers’ help to achieve financial security: report https://www.benefitscanada.com/news/bencan/dc-plan-members-nearing-retirement-need-employers-help-to-achieve-financial-security-report/ Wed, 07 Dec 2022 14:00:14 +0000 https://www.benefitscanada.com/?p=130811 Defined contribution pension plan members nearing retirement may need their employers’ help to achieve financial security during an era of low interest rates and increased inflation, according to a new report by the U.S.-based Defined Contribution Institutional Investment Association. It found target-date funds are the dominant investment strategy in most DC plans, used by 80 […]

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]]> Stellantis, Unifor agreement includes pension and retirement gains https://www.benefitscanada.com/news/bencan/stellantis-unifor-agreement-includes-pension-and-retirement-gains/ Mon, 07 Nov 2022 14:00:34 +0000 https://www.benefitscanada.com/?p=129358 The union representing employees at automobile manufacturing company Stellantis’ assembly plants in Windsor, Ont. and Brampton, Ont. has ratified a three-year collective agreement that includes pension and retiree benefits improvements. The agreement will add $1 per hour to the current company pension contribution. Employees earning the current maximum wage rate will see the pension contribution converted […]

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]]> New Brunswick PSPP announces 5.24% COLA, 0.32% below CPI https://www.benefitscanada.com/pensions/defined-benefit-pensions/nbpspp-announces-5-24-cola-0-32-below-cpi/ Thu, 08 Sep 2022 17:00:38 +0000 https://www.benefitscanada.com/?p=126505 Members of the New Brunswick Public Service Pension Plan are receiving a cost-of-living adjustment that doesn’t cover increases in the cost of living in Canada. According to a press release, the $6.6 billion hybrid pension plan’s board of trustees voted to award its 40,000 members with a 5.24 per cent COLA, set to begin on […]

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]]> Nova Scotia’s PSSP reports 98.5% funded status, halts indexing for five years https://www.benefitscanada.com/canadian-investment-review/db-investments/nova-scotias-pssp-reports-98-5-funded-status-halts-indexing-for-five-years/ https://www.benefitscanada.com/canadian-investment-review/db-investments/nova-scotias-pssp-reports-98-5-funded-status-halts-indexing-for-five-years/#respond Wed, 01 Jul 2020 03:42:05 +0000 https://cumulus.benefitscanada.com/uncategorized/nova-scotias-pssp-reports-98-5-funded-status-halts-indexing-for-five-years/ Nova Scotia’s Public Service Superannuation Plan reported a 98.5 per cent funded status as of Dec. 31, 2019 and said it will halt cost-of-living adjustments for retirees for the next five years. According to the plan’s 2020 funded health review, its funding policy prohibits indexing when the PSSP’s funded status is below 100 per cent. […]

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