Quebecers are more likely to start taking benefits from the Quebec Pension Plan at age 60 than other Canadians with their Canada Pension Plan benefits, according to a new study from the Institute for Research on Public Policy. While deferring benefits is financially advantageous for some, the study found it might be prudent for single people and […]
Despite the coronavirus pandemic’s severe and disproportionate impact on the health of aging adults, older Canadians say they’re coping far better than younger demographics, according to a new study by Edward D. Jones & Co. in partnership with Age Wave, a U.S.-based think tank focused on issues relating to aging populations. The study, which included […]
Canada Post Corp. employees and some retirees are receiving retroactive wage increases, as well as adjustments to their disability and life insurance and pensions, through two new collective agreements between the Canadian Union of Postal Workers and the crown corporation. The agreements between Canada Post and its rural and suburban and urban postal service workers — represented by two […]
The bargaining unit representing University of Ottawa support staff has voted down a so-called final offer from the university by 80 per cent. The unit, which is part of the Ontario Secondary School Teachers’ Federation, is objecting to proposed cuts to certain benefits in the offer, including cuts to the current retirement allowance and parental leave top-ups, as […]
With Canada’s population ageing and research and development looking to produce medications that are beneficial for this evolving demographic, drugs are becoming more expensive, according to Mitch Frazer, partner and chair of the pensions and employment practice at Torys LLP. In fact, among all the countries in the Organisation for Economic Co-operation and Development, Canada has the third […]
Employees at Eacom Timber Corp. have a new six-year collective agreement, which includes improvements to the pension and benefits plan. The lumber operation employs 160 people at its Timmins, Ont. mill and regional administrative centre, 110 of whom are members of the United Steelworkers Local 1-2010. Prior to the agreement, employees contributed a mandatory $120 […]
Many Canadians are interested in learning more about how to manage their money as they make the transition to retirement, according to a new survey by Mackenzie Investments. About half (47 per cent) of baby boomers said they want to know more about how to make the transition to retirement. This age group is slightly more […]
Support staff for the Prairie South School Division in Moose Jaw, Sask. have voted overwhelmingly in favour of job action, up to a full withdrawal of services, when the school year starts again. The staff, members of the Canadian Union of Public Employees 5512 chapter, object to their employer’s attempt to remove a long-service recognition benefit that provides employees with […]
Despite changing demographics and rising health-care costs, it’s uncommon for employers to include retirees in their pension and benefits governance. However, the University of Waterloo Retirees Association, which has been around for more than 30 years, not only connects retired employees with each other and the university, but also allows them to weigh in on […]
Portable non-employer retirement benefits could be a useful tool in addressing the underperformance of the U.S. retirement system as a whole, according to a new report by Common Wealth and the Aspen Institute Financial Security Program. These programs, which would be tied to employment but not to a specific employer, could be sponsored by a number […]