Equitable Bank’s 2022 Workplace Benefits Awards win is empowering employees to ask for more financial wellness benefits and to recognize the full range of resources available to them, says Madison Dickson, the bank’s human resources coordinator. “The win enhanced our employee experience because more employees feel comfortable coming up to [our team] and saying, ‘I […]
At the 2023 Defined Contribution Plan Summit, which was hosted in Montebello, Que. on Feb. 21-23, delegates learned from employer case studies and expert thought leadership about innovative pension plan design, financial wellness programs, decumulation solutions and investment opportunities to support their DC plan members. Indeed, alongside high inflation and interest rates, members are facing […]
PepsiCo Canada’s enhanced defined contribution pension plan is supporting the retirement goals of a very diverse employee population. The company, which employs roughly 11,000 people across its food and beverage divisions, has a wide range of roles, from drivers and warehouse workers to sales employees. While the organization offers multiple pension plans, the majority of […]
Even though it sounds obvious, maximizing retirement income and making it last for life isn’t what drives most retirees when it comes to making decisions — which is contributing to the challenges around decumulation, said Fred Vettese, an author and pension expert, during Benefits Canada‘s 2023 Defined Contribution Plan Summit. “The hurdles we have to […]
Any new benefit introduced at Amazon has to align to its 16 leadership principles, which the organization lives and breathes every day. These include: learn and be curious, think big, inventing and simplifying, customer obsession and bias for action. “When we roll out a benefit, it has to fit into our leadership principles,” said Adam […]
The union representing 350 WestJet employees at Toronto’s Pearson International Airport has ratified a 2.5-year collective agreement that includes pension and benefits gains. The agreement enshrines the airline’s savings plan specifically for this group of workers. The plan permits contributions to either a cash savings plan, a group registered retirement savings plan or a group […]
An article on Bill C-228 receiving royal assent was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Controversial super-priority pension bill receives royal assent 2. PSAC, government tentative agreement includes new protections around remote work, wage increases 3. FHSA may work best in conjunction with group […]
The new first home savings account may work better in conjunction with a group registered retirement savings plan or group tax-free savings account rather than as a stand-alone product, says Eric Monteiro, senior vice-president of group retirement services at Sun Life Financial Inc. “The [FHSA] limit is kind of low — it’s a $40,000 lifetime maximum […]
The union representing 70 employees at Northern Transformer in Vaughan, Ont. has ratified a four-year collective agreement that includes pension and benefits gains. The agreement introduces a group registered retirement savings plan and a deferred profit-sharing plan in which the company will provide a matching contribution of three per cent of regular earnings, capped at […]
The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains. The company will now match all regular employees’ contributions to the group registered retirement savings plan to a maximum of four per cent of their basic annual earnings. The agreement also […]