Sometimes, the best way to explore the unknown is by following in the footsteps of someone who’s been there first. When it comes to in-plan decumulation options from a defined contribution pension, whether the plan was grandfathered into existing legislation or is registered in a province that allows the option, many employers — and their […]
In 2016, when Aon’s Calum Mackenzie departed the U.K. for Canada, he left behind a pension industry still reeling from the introduction, a year earlier, of an annual charge cap on defined contribution plan investment funds. But when Mackenzie, now the consultancy’s Canadian head of investment, recently caught up with a former colleague on the […]
Once again, we’re experiencing volatile markets. During these times, it’s common to hear the following statements: It isn’t time to panic. This has happened before. Make sure the pension plan’s asset mix is correct. While these messages may be good advice for individual investors, defined contribution plan sponsors should be considering how to help their employees. Here are […]
Back in 1709, the poet Alexander Pope wrote that a little learning is a dangerous thing and a new study of defined contribution pension plan members finds this proverb still holds true today. The Invesco study, which compiled responses from 110 U.S. plan sponsors and more than 2,000 DC plan members, found that, while some DC plan members were […]
The League Against Cruel Sports is now acknowledging it dismissed an ethical vegan employee after he raised concerns over the organization’s pension plan. The employee, Jordi Casamitjana, told Benefits Canada in 2018 he was upset when he discovered the defined contribution pension provided by his employer meant his contributions were being invested in companies that were misaligned with his ethical […]
Freedom 55? It’s looking more like Freedom 70 for some Canadians, but there are strategies that working baby boomers, generation Xers and millennials can employ now to lower their retirement age, according to a new annual report by Mercer. The report found millennials often opt to invest conservatively in low-risk, short-term investments such as money market […]
As millennials enter their prime working years many are actively saving for their retirements, according to a new report by Wells Fargo Institutional Retirement and Trust. The report, which looked at four million eligible participants in about 1,900 defined contribution pension plans, found 61 per cent of millennial workers (age 27 to 39) were participating in a DC plan. In […]
Unionized workers at Saint John Airport are joining the Colleges of Applied Arts and Technology pension plan’s DBplus. According to the Public Service Alliance of Canada, the New Brunswick-based airport workers were previously in a defined contribution plan, but returning to a DB plan was a “core demand” for the 25-member bargaining unit. “The message we’re sending […]
Should I stay or should I go? That’s the question employees are asking regarding their retirement, but they’re getting mixed answers from their employers. In a survey by MetLife Inc., half (55 per cent) of U.S. employers said they’d prefer older workers to retire to make room for the advancement of younger employees. The other 45 […]
Since my last two editorials have targeted issues around pension plan design and retirement readiness, I’m balancing things out this month by turning my attention to benefits. Fortunately, I have strong opinions on the topic of this month’s cover story. Since I joined Benefits Canada four years ago, I’ve noticed that paramedical benefits — and […]