While there’s more work to be done, election campaign promises made by Canada’s major federal political parties that address retirement challenges are a step in the right direction, says John McLaren, a group benefits and retirement consultant with Jones DesLauriers. Earlier this month, Conservative Party of Canada leader Pierre Pollievre pledged to allow working seniors […]
U.S. workers believe they’ll need an average of US$1.26 million in savings to retire comfortably, $200,000 less than the $1.46 million reported last year and nearly flat with 2022 and 2023 estimates., according to a new survey by Northwestern Mutual. The survey, which polled more than 4,600 workers, found among employees who have retirement savings, […]
As defined contribution plans mature, Canada is seeing the first wave of retirees that only have DC plans and plan sponsors are facing the challenges of this decumulation phase. Speaking during a session at Benefits Canada’s 2025 DC Plan Summit, Yashar Zarrabian, regional vice-president for Quebec at Sun Life Financial Inc., outlined three pillars to […]
Rather than a single defined contribution plan sponsor tackling the decumulation dilemma alone, decisions need to be reframed as a decumulation ecosystem, said Nicole Lomax, vice-president and portfolio manager in institutional asset allocation at TD Asset Management Inc. During a session at Benefits Canada’s 2025 DC Plan Summit, she outlined the five decumulation priorities based […]
The Canadian Institute of Actuaries is supporting employers with a new resource that focuses on the importance of early and proactive retirement planning. The resource covers several topics, such as how to build emergency funds while balancing short-term obligations with long-term goals, as well as developing sustainable retirement income strategies using personal savings, employer-sponsored retirement […]
Canadian spending per household trends show the country’s economy is experiencing a recession, said Stephen Poloz, former governor at the Bank of Canada and a special advisor at Osler, Hoskin & Harcourt LLP, during a session at the Canadian Investment Review’s 2024 Investment Innovation Conference. Consumer spending numbers have declined around two per cent for […]
Variable payment life annuities and the impact of gender identity on actuarial standards are among the issues the Canadian Institute of Actuaries is monitoring in 2025, says Simon Nelson, a principal at Eckler Ltd. and chair of the CIA’s pension practice committee. A CIA task force on VPLAs will present its findings early this year, […]
According to Statistics Canada, 80 per cent of Canadian public sector workers benefit from a respectable, life-long pension. However, for many private sector employees the quality of the pension plan available to them leaves much to be desired. The typical private sector pension is a defined contribution plan, which means employees bear the risk of […]
The rapid rise in the cost of living in 2022 and into 2023 underscored the need for target-date funds to not just protect against standard inflation, but inflation shocks as well. The problem that presents is the more inflation protection that’s added into a portfolio, the lower the returns, said Nick Nefouse, managing director, global […]
Longevity risk is still among the top concerns keeping defined benefit pension plan sponsors up at night. While a 62-year-old person that retired in 2002 had a life expectancy of 21.4 years, that has now increased to 26.2 years, said Darwin Bozek, president and chief executive officer of the Ontario Pension Board, during a panel discussion at […]
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