pension contributions – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 15 Nov 2024 20:19:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 Top 50 DC Plans Report: How are plan sponsors using AI to affect pension member experience, savings outcomes? https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-top-50-dc-plans-report-how-are-plan-sponsors-using-ai-to-affect-pension-member-experience-savings-outcomes/ Fri, 11 Oct 2024 12:58:51 +0000 https://www.benefitscanada.com/?p=160881 The Co-operative Superannuation Society Pension Plan is in the middle of a years-long digital transformation that’s aiming to improve member experience. In addition to introducing a modernized and secure member portal, the CSS (No. 2 on the 2024 Top 50 Defined Contribution Plans report) is planning to start leveraging artificial intelligence, says Tami Dove, the […]

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]]> How are Canadian DB pension plan sponsors making use of surplus funds amid positive funded status environment? https://www.benefitscanada.com/pensions/defined-benefit-pensions/how-are-canadian-db-pension-plan-sponsors-making-use-of-surplus-funds-amid-positive-funded-status-environment/ Thu, 26 Sep 2024 15:00:26 +0000 https://www.benefitscanada.com/?p=160541 With many Canadian defined benefit pension plans in a strong funded position, plan sponsors, particularly those with unionized workforces, are increasingly discussing the use of surplus funds, says Gavin Benjamin, a partner in the retirement and benefits solutions practice at Telus Health. The funded position of a typical Canadian defined benefit pension plan rose on […]

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]]> Saskatchewan arbitrator sides with Canadian Blood Services in pension contributions case https://www.benefitscanada.com/pensions/pension-communication/saskatchewan-arbitrator-sides-with-canadian-blood-services-in-pension-contributions-case/ Thu, 16 May 2024 13:00:09 +0000 https://www.benefitscanada.com/?p=155627 A Saskatchewan arbitrator has ruled that Canadian Blood Services doesn’t owe an employee eight years of retroactive pension contributions because it took the proper steps to fix its failure to provide her with enrolment forms within the appropriate time limits. “The decision recognizes that mistakes happen in administering pension plans and that administrators can take […]

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]]> Funded ratio of 100 largest U.S. corporate DB pension plans declines to 98.4% in fiscal 2023: report https://www.benefitscanada.com/canadian-investment-review/research-markets/funded-ratio-of-100-largest-u-s-corporate-db-pension-plans-declines-to-98-4-in-fiscal-2023-report/ Wed, 01 May 2024 13:00:08 +0000 https://www.benefitscanada.com/?p=155012 The funded ratio of U.S. corporate defined benefit pension plans declined to 98.5 per cent in fiscal 2023 from 99.4 per cent in 2022, according to a new report by Milliman Inc. The report, which reviews the financial disclosures of the 100 largest U.S. public corporate DB plans, found their average return on investments was […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-62/ Fri, 24 Nov 2023 14:00:15 +0000 https://www.benefitscanada.com/?p=147620 An article on the federal government’s 2023 fall economic statement was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Feds consider end of ‘30% rule’ for pensions, propose EI adoption benefit: fall economic statement 2. Former federal finance minister defends ‘sustainably successful’ CPP amid Alberta pension […]

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]]> ACPM reiterating support for automatic features in Ontario retirement savings plans https://www.benefitscanada.com/pensions/cap/acpm-reiterating-support-for-automatic-features-in-ontario-retirement-savings-plans/ Fri, 17 Nov 2023 14:00:56 +0000 https://www.benefitscanada.com/?p=147292 The Association of Canadian Pension Management is reiterating its support for fully enabling automatic features in retirement savings plans, including defined contribution pensions, group registered retirement savings plans and group tax-free savings accounts. In a letter to the Ontario government, the association said the province’s employers want to implement automatic features that reduce red tape […]

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]]> Contributions to B.C. pension plans increased by 10% in 2022: report https://www.benefitscanada.com/pensions/defined-benefit-pensions/contributions-to-b-c-pension-plans-increased-by-10-in-2022-report/ Fri, 17 Nov 2023 14:00:33 +0000 https://www.benefitscanada.com/?p=147306 Contributions to British Columbia-based defined benefit and defined contribution pension plans increased by 10 per cent in 2022, while contributions to target-benefit plans increased by 9.4 per cent, according to the B.C. Financial Services Authority’s annual pensions report. The report, which analyzed data from more than 600 pension plans, found overall plan membership increased by […]

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]]> Third of DC plan sponsors don’t expect employees to use financial wellness programs: survey https://www.benefitscanada.com/pensions/cap/third-of-dc-plan-sponsors-dont-expect-employees-to-use-financial-wellness-programs-survey/ Thu, 16 Nov 2023 14:00:18 +0000 https://www.benefitscanada.com/?p=147158 About a third (32 per cent) of defined contribution pension plan sponsors that currently don’t use a financial wellness program say it’s because they don’t expect employees to take advantage of it, according to a new survey by Cerulli Associates. However, the survey also found financial wellness programs have grown to become a key component of […]

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]]> Survey finds just 44% of U.S workers reviewing retirement plan contributions during enrolment period https://www.benefitscanada.com/pensions/retirement/just-44-of-u-s-workers-reviewing-retirement-plan-contributions-during-enrolment-period-survey/ Mon, 13 Nov 2023 14:00:08 +0000 https://www.benefitscanada.com/?p=146974 While a majority (87 per cent) of U.S. employees believe it’s a good idea to review their workplace retirement savings plan during their company’s open enrolment period, just 44 per cent say they’ll review how much they contribute to their plan, according to a new survey released by Corebridge Financial Inc. The survey, which polled […]

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]]> Survey finds 76% of U.S. employees concerned about ability to save for retirement https://www.benefitscanada.com/pensions/retirement/survey-finds-76-of-u-s-employees-concerned-about-ability-to-save-for-retirement/ Wed, 08 Nov 2023 20:00:54 +0000 https://www.benefitscanada.com/?p=146736 While more than three-quarters (79 per cent) of U.S. employees say they’re satisfied with their employer-sponsored pension plan, 76 per cent say they’re concerned about their capacity to save for retirement due to economic volatility, according to a new survey by Arthur J. Gallagher & Co. The survey, which polled more than 300 employees and […]

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