Canadian defined contribution plans offer a range of investment choices, from a single balanced fund, in some cases, to more than 25 options. Douglas Anderson, corporate services officer at the College of Physicians and Surgeons of Ontario: As a member of the College of Physicians and Surgeons of Ontario’s pension committee, I believe in offering […]
The first major reform to the U.S. retirement system in a decade, the Setting Every Community Up for Retirement Enhancement Act, contains provisions that could be useful guides for Canadian legislators and regulators. Signed into law by President Donald Trump in December, the act, known as SECURE, is primarily aimed at addressing Americans’ difficulty in […]
In the U.S., target-date funds in workplace retirement plans have grown from $5 billion in 2000 to $734 billion in 2018, with many benefits for plan members. A new working paper by Olivia Mitchell, a professor at the University of Pennsylvania’s Wharton School, and Stephen Utkus, principal and director of the Vanguard Center for Investor […]
The Canada Pension Plan enhancements are a strong start but the country needs to do more to help people prepare for retirement, according to a new report from Ryerson University’s National Institute on Ageing. The paper — authored by Keith Ambachtsheer, director emeritus of the International Centre for Pension Management, and Michael Nicin, executive director of […]
For the first time, defined contribution plan assets are exceeding defined benefit holdings across the world’s six largest pension markets, according to new report by Willis Towers Watson’s Thinking Ahead Institute. The report also found DC plan assets have grown at a faster rate (8.4 per cent per annum) than DB plans (4.8 per cent per annum) […]
The Canadian Life and Health Insurance Association is asking the federal government to develop a strategy for access to high-cost drugs and to make flexible annuity options available for a variety of retirement savings vehicles. In its 2020 budget submission to Finance Minister Bill Morneau, the association called for the federal government to work with provincial and territorial governments and […]
The Canadian Life and Health Insurance Association is highlighting new retirement savings options and access to cheaper drugs in its priorities for the Quebec and Newfoundland and Labrador provincial budgets. In its submission to Newfoundland’s finance minister, the CLHIA called for the government to make pooled registered pension plans available in the province. Citing Statistics Canada data that […]
Unifor is calling out the Federated Co-operatives Ltd. for delaying bargaining after hitting an impasse in a pension dispute. Currently, the Co-op employees’ defined benefit pension is fully funded by the employer. The conflict started in mid-December when the Co-op proposed that employees begin paying 11 per cent of contributions, among other concessions. Unifor members have been blockading […]
The Co-operative Superannuation Society Pension Plan is making a deal with the Co-operators Group Ltd. on a longevity insurance agreement to protect its annuity offering. “CSS is very proud to have been providing an in-plan annuity option to our members for close to 50 years,” said Martin McInnis, executive director of CSS, in a press […]
Willis Towers Watson is appointing Ofelia Isabel as its new market leader for Toronto. In her new role, Isabel will be responsible for the company’s brand in the Greater Toronto Area, delivering client solutions and managing business operations and talent development. “We’re very pleased to appoint Ofelia to this leadership role as we continue to […]