consumer price index – Benefits Canada.com

Federal public sector pension indexation rate set at 4.8% for 2024

bmcgovern — Thu, 30 Nov 2023 16:00:12 +0000

The pension indexation rate for federal public sector pensions will be 4.8 per cent in 2024, according to the National Association of Federal Retirees. The rate, which is set by the Treasury Board Secretariat in accordance with the Public Service Superannuation Act and the Supplementary Retirement Benefits Act, is a decrease from last year’s indexation […]

The post Federal public sector pension indexation rate set at 4.8% for 2024 appeared first on Benefits Canada.com.

Canadians believe they need $1.7 million in savings to retire: survey

lbailey — Wed, 08 Feb 2023 14:00:07 +0000

Canadians say they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, when Canadians estimated they’d need a nest egg of $1.4 million, according to a new survey by BMO Financial Group. The estimate is the largest since the bank first began surveying Canadians about their retirement expectations […]

The post Canadians believe they need $1.7 million in savings to retire: survey appeared first on Benefits Canada.com.

Curbing inflation may take up to 18 months: expert

Gideon Scanlon — Thu, 20 Oct 2022 16:00:23 +0000

It may take up to 18 months for central banks policies to curb inflation to around two per cent on an annual basis, says Julianna Spiropoulos, partner and head of investment strategy, investment and risk at LifeWorks Inc. “Around the world, there’s concern about persistent inflation. . . . Central banks need to get inflation […]

The post Curbing inflation may take up to 18 months: expert appeared first on Benefits Canada.com.

Remote working moderating wage growth, potentially easing inflation: report

lbailey — Wed, 06 Jul 2022 13:00:22 +0000

The shift to remote working is tamping down wage growth by two per cent over two years, shrinking — by more than half — employees’ expectations of real-wage catchup amid rising inflation, according to a report by the Becker Friedman Institute at the University of Chicago. It found while U.S. consumer prices rose 8.6 per cent […]

The post Remote working moderating wage growth, potentially easing inflation: report appeared first on Benefits Canada.com.

Canadian pension plans well positioned as inflation hits 31-year high: report

Gideon Scanlon — Thu, 19 May 2022 12:00:02 +0000

Canada’s pension plans are well positioned to succeed in a high inflation environment though stagflation remains a significant threat, according to a new report from Fitch Ratings. “The maturing nature of participant bases increases pension funds’ reliance on investment returns, as contributions and income from active members may be outpaced by benefits paid to a […]

The post Canadian pension plans well positioned as inflation hits 31-year high: report appeared first on Benefits Canada.com.

Wall Street stocks rise after three days of losses

Gideon Scanlon — Wed, 22 Dec 2021 14:00:11 +0000

Wall Street stocks are rising after three days of losses brought on by worries over the spread of the omicron variant and lingering concerns about rising inflation. On Tuesday, the S&P 500 index rose 1.5 per cent as of 1:10 p.m. Eastern. The Nasdaq rose 1.7 per cent. Both indexes were boosted by solid gains […]

The post Wall Street stocks rise after three days of losses appeared first on Benefits Canada.com.

How employers can tweak benefits offerings amid rising inflation

lbailey — Thu, 09 Sep 2021 13:00:33 +0000

With the price of consumer goods, from hot dogs to houses, rising steadily in Canada, some employers are thinking outside the benefits box to help ease the cost of living burden for employees and provide support beyond raising wages. According to Statistics Canada’s latest consumer pricing report, the inflation rate rose 3.7 per cent on […]

The post How employers can tweak benefits offerings amid rising inflation appeared first on Benefits Canada.com.

Bank of Canada looks for broader input in updating inflation target framework

mschmit — Tue, 25 Aug 2020 04:48:01 +0000

The Bank of Canada is turning to the public for input on its inflation-rate target that underlies any changes to the central bank’s trend-setting interest rate. The bank had already planned on a much broader consultation than what it did for previous reviews long before the coronavirus pandemic struck Canada and forced a sharp decline […]

The post Bank of Canada looks for broader input in updating inflation target framework appeared first on Benefits Canada.com.

Statistics Canada analysis suggests small hit to inflation from pandemic

mschmit — Tue, 14 Jul 2020 04:10:10 +0000

Statistics Canada says Canadians’ buying patterns changed so much during the coronavirus pandemic that its measure of consumer inflation went a little wobbly. The agency previously reported that year-over-year inflation declined by 0.2 per cent in April, then took a further drop of 0.4 per cent in May as lockdowns put a damper on consumer […]

The post Statistics Canada analysis suggests small hit to inflation from pandemic appeared first on Benefits Canada.com.

Unifor decries Co-op’s ‘final offer’ on pension, files unfair labour practices complaint

mschmit — Mon, 30 Mar 2020 11:00:53 +0000

Recommendations from two provincially appointed special mediators have failed to quell the labour dispute between Federated Co-operatives Ltd. and the union representing its refinery employees. On Sunday, Unifor Local 594 said it filed an unfair labour practice complaint with the Saskatchewan Labour Board in early March, alleging that Co-op undertook a “concerted campaign of psychological attacks on union […]

The post Unifor decries Co-op’s ‘final offer’ on pension, files unfair labour practices complaint appeared first on Benefits Canada.com.