As a financial institution that provides banking and wealth management services to customers, Meridian Credit Union ensures it also offers employees a comprehensive suite of services to support their financial wellness. This includes a defined contribution pension in which staff contribute a mandatory three per cent of annual earnings, with the employer contributing between three […]
Earlier this year, Mexico’s senate approved the creation of a new pension fund to help provide more retirement security for low-income citizens. The reform aims to ensure pensioners receive 100 per cent of their last monthly salary up to roughly 16,777 Mexican pesos (US$975), which is the average monthly wage for workers affiliated with the […]
The Ontario Municipal Employees’ Retirement System recently launched a new hub on its member website dedicated to retirement income sources. The new webpage is designed to support the OMERS’ members on their retirement savings and planning journey, emphasizing the importance of a secure and stable income foundation in retirement. This includes interactive tools to illustrate the […]
The union representing 60 employees at Maple Leaf Foods in Port Perry, Ont., has ratified a four-year collective agreement that includes pension and benefits gains. Vision coverage will increase from $280 to $315 in the first year and coverage for paramedical services will increase from $380 to $410 in the first year and to $420 […]
The union representing more than 1,300 employees at General Motors’ assembly plant in Ingersoll, Ont. has ratified a two-year collective agreement that includes pension and benefits gains. On Aug. 3, 2025, employees hired on or after Sept. 17, 2013, and currently participating in the defined contribution pension plan will be enrolled in the Colleges of […]
Brianne Collins, age 29, has worked as a senior copywriter at a large Toronto-based advertising agency for just over a year. Collins’ agency supports employee financial wellness in several ways, including a group registered retirement savings plan, financial advice and Financial Literacy Month webinars with sessions covering various financial topics. “In busy day-to-day work, it’s […]
The union representing more than 1,600 faculty, librarians, archivists and post-doctoral researchers at York University has ratified a three-year collective agreement that includes multiple benefits gains. The agreement includes an increase in coverage for eyeglasses from $850 to $935 every 24 months, as well as an increase for paramedical services from $3,000 to $3,200. In […]
The Ontario Teachers’ Pension Plan is appointing Mabel Wong as its chief financial officer, effective immediately. She officially enters the role after serving as acting CFO following the departure of Tim Deacon in April. Her responsibilities include financial management and reporting, valuation, risk analytics, financial operations and strategic finance initiatives. Read: Tim Deacon leaving Ontario Teachers’ for Sun Life […]
Capital accumulation plan members continued to see an uptick in their plan outcome for the second quarter of 2024, as gross income replacement ratios remained at multi-year highs, according to a new report by Eckler Ltd. The consultancy’s latest CAP income tracker found a typical male member retiring at the end of June 2024 achieved […]
Working grandparents who are providing financial support to children and/or grandchildren are risking their own plans for retirement, says Craig Bannon, director of financial planning centre of expertise at the Royal Bank of Canada. “[They might need to] delay their retirement to extend their earning years or continue to work on a part-time basis in […]