The Quebec government’s removal of the maximum annual amount that can be paid to people aged 55 and older with a variable benefit account tied to a defined contribution pension plan or with a life income fund is part of a broader push to provide retirees with more flexibility to draw on their locked-in retirement savings […]
Since decreased cognition can impact retirees’ ability to make sound decisions, the Canadian Union of Public Employees urges its members to discuss financial matters with their families long before exiting the workforce. “If we wait until we’re in distress, we either make very bad decisions or we don’t make any decisions at all, which can […]
More than two-fifths (45 per cent) of U.S. defined contribution pension plan sponsors say they’re considering implementing emergency savings features, according to a survey from MFS Investment Management. The survey, which polled 1,000 DC plan members and more than 140 plan sponsors, found nearly a quarter (23 per cent) of plan sponsors said they’d take […]
The skyrocketing cost of living has created increased need for employees to receive additional financial well-being information to meet their retirement savings goals. It’s increasingly difficult for most Canadians to put aside any savings above their monthly expenses, thanks in large part to the squeeze from high inflation and the effects of increased interest rates […]
More than half (51 per cent) of U.S. workers say they’d like to see fully paid health-care premiums as a financial benefit from their company, according to a new survey by CNBC and SurveyMonkey. It found nearly two-fifths of respondents said they’d also like to see 401(k) matching (37 per cent) as well as health […]
The assets of Canada’s top 10 capital accumulation plan providers increased by 12.9 per cent over the previous year, from roughly $250,366 million at June 30, 2022 to $282,772 million at June 30, 2023, according to the latest report by the Canadian Institutional Investment Network. The CIIN, which is a companion site to Benefits Canada […]
A story on how plan sponsors and insurers are considering covering weight-loss drugs as part of a broader push towards more inclusive benefits was the most-read benefits story on BenefitsCanada.com this year. Here are the 10 most popular benefits news stories of the year: 1. How plan sponsors, insurers are considering coverage of weight-loss drugs amid rising […]
A survey on the retirement readiness of Canadian workers and a looming retirement crisis was the most-read pension story on BenefitsCanada.com this year. Here are the 10 most popular pension news stories of 2023: 1. Survey finds 44% of Canadian pre-retirees have less than $5,000 in savings 2. Ford, Unifor agreement includes significant DC pension improvements, transition to […]
Since this month’s editorial is my farewell (for just five months) as I prepare for the birth of my second child at the end of 2023, sitting down to write it prompted me to look back at my editorial three years ago when I was getting ready to become a parent for the first time. […]
Nearly all (92 per cent) Canadian employers say they plan to award a year-end bonus to their teams, according to a new survey by Robert Half Canada Inc. The survey, which polled more than 900 employers, found nearly half (45 per cent) said they’re awarding a larger bonus than last year, while two-fifths (39 per […]