The proposed financial sustainability provisions of the enhanced Canada Pension Plan destabilize Canadians’ understanding and expectation of the CPP, and create challenges around communicating the benefit to contributors and beneficiaries, according to the Canadian Labour Congress. “Given the significance of these changes, in our view, the manner in which the regulations have been developed and communicated […]
The Canada Pension Plan Investment Board saw a net return of 0.6 per cent for the second fiscal quarter of 2019. With a total net assets of $368.3 billion as of Sept. 30, 2018, the fund added $1.7 billion during the quarter. “While returns were relatively flat in the second quarter, our teams performed well against our […]
The Canada Revenue Agency has announced that the maximum pensionable earnings under the Canada Pension Plan for 2019 will be $57,400, up from $55,900 in 2018. Contributors who earn more than $57,400 won’t be permitted to make additional contributions to the CPP. The basic exemption amount for 2019 remains $3,500. The registered retirement savings plan […]
How the benefit shrinks with age and what that means for retirement security
Improving the mental health of employees ranks ahead of physical health and wellness as a top priority for human resources leaders for 2019, according to a new survey by Morneau Shepell Ltd. The survey, which polled nearly 400 Canadian organizations, found 48 per cent of HR leaders view improving the mental health of their workforce as a top priority, narrowing passing […]
The Canada Pension Plan fund returned a modest 1.8 per cent in the first quarter of fiscal 2019. It ended the quarter, on June 30, 2018, with net assets of $366.6 billion, compared to $356.1 billion at the end of fiscal 2018. The $10.5 billion increase in assets for the quarter consisted of $6.6 billion […]
How do the following sound as headlines for the cover of Benefits Canada? Are they likely to make the cut any time soon? • “My boss is 89” • “Remember when we went to the doctor’s office?” • “On-the-job diagnosis” • “Machines don’t need benefits” • “Artificial benefits” • “Shareholders elect first AI CEO (actuary’s […]
Federal officials overseeing billions in benefit payments to millions of Canadians are hoping artificial intelligence can resolve ongoing snags in the system. The government is looking to “push the boundaries” of what artificial intelligence can do to improve a variety of services, including the pace of benefit decisions to Canadians applying for disability pensions, say […]
The majority of small business owners in Ontario want the government to scrap or delay the Canada Pension Plan enhancements, according to a new survey by the Canadian Federation of Independent Business. Its survey, which polled 2,065 business owners in the province, found 52 per cent would like to see the government delay the enhancements until a review […]
As the average income replacement rate for capital accumulation plans continues to trend downwards, can employers mitigate this movement with the Canada Pension Plan’s incoming enhancements? According to a new report by Eckler Ltd., CAP replacement rates fell to a new low at March 31, 2018, settling at 58 per cent for men and 56 per cent for women. These […]