early retirement – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Extending ‘25-and-out’ legislation could stabilize public sector pension plans’ maturity issues: expert https://www.benefitscanada.com/pensions/retirement/extending-25-and-out-legislation-could-stabilize-public-sector-pension-plans-maturity-issues-expert/ Thu, 01 Aug 2024 13:00:14 +0000 https://www.benefitscanada.com/?p=158594 The federal government’s move to introduce legislation extending pension eligibility to frontline public safety and law enforcement workers after 25 years of service could help manage room for new hires and ensure stable plan maturity, says James Fu, partner and national leader of pensions and benefits law at Borden Ladner Gervais LLP. Hundreds of frontline workers […]

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]]> DB pension plans boosting recruitment, retention in public safety industry: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/db-pension-plans-boosting-recruitment-retention-in-public-safety-industry-report/ Wed, 24 Jul 2024 13:00:35 +0000 https://www.benefitscanada.com/?p=158313 More than half (52) per cent of new public safety employee hires are expected to retire from a defined benefit pension plan, according to a new report by the National Institute on Retirement Security. The report, which reviewed data from 28 U.S. police and fire pension plan sponsors, found that DB plans are an effective […]

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]]> 2024 Global Investment Conference: A look at evolving retirement trends https://www.benefitscanada.com/canadian-investment-review/post-event-coverage/2024-global-investment-conference-a-look-at-evolving-retirement-trends/ Mon, 10 Jun 2024 11:49:40 +0000 https://www.benefitscanada.com/?p=156217 During a panel discussion at the Canadian Investment Review’s 2024 Global Investment Conference in April, three pension plan sponsors shared their perspective on plan design and the changing patterns for employees close to retirement. Nearly a decade ago, Via Rail Canada Inc. began allowing payments of lump sums to individuals up to age 65 to […]

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]]> Survey finds 74% of Canadians aged 24 to 44 view conventional retirement approach as outdated https://www.benefitscanada.com/pensions/retirement/survey-finds-74-of-canadians-aged-24-to-44-view-conventional-retirement-approach-as-outdated/ Thu, 18 Apr 2024 19:00:12 +0000 https://www.benefitscanada.com/?p=154416 Three-quarters (74 per cent) of Canadians aged 24 to 44 say the conventional approach to retirement — halting work at age 65 to enjoy a life of leisure — is an outdated concept, according to a new survey by Leger on behalf of Wealthsimple. The survey, which polled more than 1,500 Canadians, found roughly 60 […]

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]]> Canadian Aviation Electronics, Unifor agreement includes retirement, benefits gains https://www.benefitscanada.com/news/bencan/canadian-aviation-electronics-unifor-agreement-includes-retirement-benefits-gains/ Fri, 14 Jul 2023 13:00:24 +0000 https://www.benefitscanada.com/?p=141056 The union representing employees at Montreal-based Canadian Aviation Electronics Ltd. has ratified a five-year agreement that includes retirement and benefits gains. The new agreement includes an early retirement program that allows employees to retire without penalty at the agreed upon time in the second and fourth year, starting at age 58 and meeting the factor […]

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]]> Is the concept of financial independence and early retirement truly feasible? https://www.benefitscanada.com/pensions/retirement/is-the-concept-of-financial-independence-and-early-retirement-truly-feasible/ Fri, 18 Nov 2022 14:01:18 +0000 https://www.benefitscanada.com/?p=129982 The FIRE concept — financial independence and retiring early — is gaining traction among younger workers, but as appealing as early retirement may be, it isn’t very realistic given the current economic conditions, according to experts. Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University, notes the population […]

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]]> A third of Canadian employees retiring sooner than planned: survey https://www.benefitscanada.com/pensions/retirement/a-third-of-canadian-employees-retiring-sooner-than-planned-survey/ Wed, 11 May 2022 13:00:30 +0000 https://www.benefitscanada.com/?p=121239 A third (33 per cent) of recently retired Canadians said they retired sooner than they planned and 30 per cent of pre-retirees intend to change their retirement date because of the coronavirus pandemic, according to a new survey by RBC Insurance. It found Canadians are still largely relying on traditional retirement savings tools, such as […]

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