While there’s more work to be done before lifetime pension pools are widely implemented in North America, employers are increasingly aware of concepts such as variable payment life annuities, says Barbara Sanders, an associate professor at Simon Fraser University. “It seems that it’s being discussed fairly often. When in industry meetings, it’s certainly a very […]
The House of Commons Special Committee studying Canada-China relations is calling on the federal government to bar Canadian pension funds from investing in Chinese companies linked to human rights abuses or that pose a threat to national security. In a report released last month, the special committee noted the Canada Pension Plan Investment Board and […]
Middle-income earners will start seeing a larger portion of their paycheques going toward their Canada Pension Plan contributions as of Jan. 1. A broader pension revamp began in 2019, as both the Quebec Pension Plan and CPP began phasing in enhanced benefits intended to provide more financial support for Canadians after they retire. So far, individual contributions — and the employer’s […]
A story on how the federal government is considering ending Canada’s ’30 per cent rule’ was the most-read investment story on BenefitsCanada.com this year. Here are the 10 most popular investment news stories of 2023: 1. Feds consider end of ‘30% rule’ for pensions, propose EI adoption benefit: fall economic statement 2. Uptick in U.S. commercial office real estate […]
A recent development in the U.K. pension market to give British workers a ‘pot for life’ could reduce the quality of retirement plans that are already in place and create administrative challenges, says Adam Bexson, senior corporate pension consultant at Verlingue Ltd. Currently, plan members are automatically enrolled into a retirement plan chosen by their employer, […]
Citing the “complicated” nature of pensions and need for all provinces and territories to weigh in, Finance Minister Chrystia Freeland wouldn’t provide a specific timeline for determining how much Alberta would be entitled to if it leaves the Canada Pension Plan. Speaking after a meeting with her provincial and territorial counterparts, Freeland said officials reported back to […]
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 […]
An article on how employers can support employees with attention deficit hyperactivity disorder was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How employers can help employees with ADHD be engaged, productive 2. FSRA’s proposed rule could increase fairness in division of pension benefits during marriage […]
The Pension Investment Association of Canada is calling on the B.C. Financial Services Authority to reconsider implementing new standards for climate-related risks analysis guidelines, noting it would be extremely challenging for most pension plans to meet a potential new climate and transition risk review system. In an open letter, the PIAC recommended a principles-based approach to […]
U.S. public sector defined benefit pension plans that have switched to a defined contribution model have experienced negative cash flows and increased costs and employee turnover, according to a new report by the National Institute on Retirement Security. The report analyzed five public sector pension plans including those in Alaska, Michigan and West Virginia. It […]