More than a third (35 per cent) of Canadians said they expect to lose their job or the main source of self-employment income in the next four weeks due to the coronavirus pandemic, according to a survey by Statistics Canada. The survey, which polled more than 4,600 Canadians in all 10 provinces in late March and early April, found […]
During an educational two days in Montreal, the 2020 DC Plan Summit, on Feb. 5-7, featured a range of sessions diving into today’s top issues for plan sponsors, including financial education and wellness, post-retirement solutions, sustainability, plan design and technology. Is your pension communication message getting through? A look at the different paths to ESG […]
While the pension industry has historically thought about the sustainability of pension plans themselves, it’s now time to think about sustainability more broadly, said Kate Nazar, vice-president of strategy and market development for group retirement services at Sun Life Financial, during a panel at Benefits Canada‘s 2020 DC Plan Summit in Montreal in February. “We’re […]
As the world changes, so do the workforce and workplaces of today, demanding a new approach to how the industry is helping defined contribution plan members save for retirement. During a session at Benefits Canada‘s 2020 DC Plan Summit in Montreal in February, Maria-José Perea, vice-president, business solutions and marketing for group retirement savings at […]
When Gracie Inacay, former executive director and head of HR at Harris Associates, joined the firm, she took a good, long look at its defined contribution plan. In 1994, it had started as a profit-sharing plan. Once an employee had put in 1,000 hours and was employed at the end of the year, they received […]
People across Canada are stressed out about money. In fact, 41 per cent of Canadians say money is their No. 1 source of stress, according to Karrina Dusablon, vice-president of market development and strategic solutions at Canada Life, during a session at Benefits Canada‘s 2020 DC Plan Summit in Montreal in February. Overall well-being is […]
Wrapping up the 2020 DC Plan Summit with his customary flair, Zaheed Jiwani, principal and leader of the DC consulting group at Eckler Ltd., highlighted the pervasive themes through a selection of songs. With Joe Cocker’s “With a Little Help from My Friends,” he noted how the plan sponsor case studies shared real-life examples of […]
Anxiety is running high for many Canadians who are feeling the immediate financial impact of the coronavirus pandemic due to job losses, reduced work hours and significant declines in investment portfolios. But some may also feel unease if they can’t access money from specific funds within their defined contribution pension plan. “Right now, we’re aware […]
A new report by the C.D. Howe Institute is urging the federal government to suspend taxes on registered retirement savings plan withdrawals during the coronavirus pandemic. The report said the current financial assistance measures are an excellent start, but may still leave certain individuals and households with immediate cash-flow problems. Indeed, even for those to whom government assistance […]
With a few days under their belts to digest the federal government’s proposed wage subsidy benefits, some Canadian employers are starting to rehire workers who were put on furlough or laid off entirely. In a press release on Monday, Air Canada said it’s rehiring about 16,500 employees who will receive the 75 per cent wage subsidy, which aims to […]