The majority (81 per cent) of U.S. public sector employees worry whether they’ll have enough money to last them through retirement, according to a new survey by MissionSquare Research Institute. The annual survey, conducted alongside the International Public Management Association for Human Resources and the National Association of State Personnel Executives, also found just 41 per […]
Workplace pension plans alone aren’t providing adequate retirement income for U.S. government employees, according to a new report by the National Institute on Retirement Security and Aon. It found U.S. state and local employees in a typical public defined benefit pension plan need to save roughly four to six per cent of their salary on their […]
The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019, according to a new report from Statistics Canada. It found more than 4.4 million Canadians were covered by a defined benefit pension plan in 2020, up 1.7 per cent from 2019, noting the majority (72 […]
An article on the potential future of pension plans in the private sector was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Expert panel: Are private sector employers heading toward a pension renaissance? 2. A third of Canadian employees retiring sooner than planned: survey 3. Mental-health […]
Pension coverage in the public sector is high, with the vast majority of public sector employees covered by a defined benefit pension plan. However, the story is very different in the private sector as pension coverage is much lower and is trending downwards. Only 22 per cent of private sector employees participated in a registered […]
Group responds to introduction of target-benefit pension plans.