The climate crisis puts the security of workers’ retirements at stake, said Patrick DeRochie, senior manager at Shift Action for Pension Wealth and Planet Health, during a session at the Canadian Investment Review‘s 2022 Risk Management Conference. Pension plan sponsors’ investment decisions and their ability to achieve adequate returns for their members depends on a […]
Scotiabank has promoted Ayman Alvi to vice-president of global pension and benefits. Alvi joined the bank in 2019 as director of global benefits. Previously, he was a senior manager and consulting actuary at KPMG in Canada, a manager at PricewaterhouseCoopers, an actuarial associate at Willis Towers Watson (now WTW) and a senior pension specialist at […]
Pension and retirement plan members in Newfoundland and Labrador can now designate beneficiaries through electronic means. The amendment allows individuals to name beneficiaries electronically for certain types of plans, including a workplace pension, retirement, welfare or profit-sharing fund or plan, a registered retirement income fund, a registered retirement savings plan or a tax-free savings account. […]
Pension and retirement plan members in Saskatchewan can now designate beneficiaries through electronic means. The provincial government recently passed a series of amendments regarding the electronic handling of legal matters. Bill 56 specifically allows individuals to name beneficiaries electronically for certain types of plans including an employee pension, retirement, welfare or profit-sharing fund or plan, […]
With a record number of Canadians nearing retirement, employers can support workers through retirement planning initiatives and education, says one expert. According to a report released last week by Statistics Canada, more than a fifth (22 per cent) of Canadian employees are aged 55 to 64. It also found more Canadians are aged 55 to 64 than young adults […]
A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data. The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build […]
The Royal Mail Group Ltd. will soon make history in the United Kingdom by becoming the first employer to sponsor an entirely new type of pension plan, called a collective defined contribution scheme. Under the U.K.’s Pension Schemes Act 2021, which received royal assent in February, collective DC pensions will essentially be a hybrid of […]
The Alberta Teachers’ Association says it’s taking legal action against a ministerial order enacted on several pension plans in the province in late December. In a press release, the association said its provincial executive council voted unanimously this week to file a lawsuit, acting on legal advice that identified an avenue for a challenge to […]
A rally on the stock market in the fourth quarter helped boost the strength of Canadian defined benefit pension plans to end the year, a report by Mercer Canada said Monday. The consulting firm said its pension health index, which represents the solvency ratio of a hypothetical defined benefit pension plan, rose to 114 per […]