retirement savings plans – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 20:48:06 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Nova Scotia offers retirement fund top-ups to attract, retain physicians https://www.benefitscanada.com/pensions/retirement/nova-scotia-offers-retirement-fund-top-ups-to-attract-retain-physicians/ Thu, 17 Oct 2024 19:00:22 +0000 https://www.benefitscanada.com/?p=161429 The Nova Scotia government is offering to pay up to $15,000 a year into a new retirement benefits program for doctors in hopes the public money will keep more physicians in the province. Premier Tim Houston announced the new program Wednesday, saying the annual contributions will be available to Nova Scotia’s roughly 3,000 doctors at […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-93/ Fri, 02 Aug 2024 13:00:13 +0000 https://www.benefitscanada.com/?p=158692 An article detailing how Canada’s exemplary pension regulatory system is helping to safeguard plans from mismanagement was the most-read story on BenefitsCanada.com this week. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Culture of compliance prevents mismanagement, conflict at Canadian pension funds: expert 2. OPB making key appointments […]

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]]> Demand for in-plan annuity options growing among U.S. workers, employers: report https://www.benefitscanada.com/pensions/retirement/demand-for-in-plan-annuity-options-growing-among-u-s-workers-employers-report/ Mon, 29 Jul 2024 19:00:40 +0000 https://www.benefitscanada.com/?p=158505 Seven in 10 U.S. workers between the ages of 40 and 80 with at least $100,000 in investable assets say they’d be “very” or “somewhat” likely to select an in-plan annuity option if it were available within their employer-sponsored retirement savings plan, according to a new report by LIMRA. It also found younger plan participants […]

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]]> 49% of executive leaders say financial stress preventing frontline staff from doing best work: survey https://www.benefitscanada.com/benefits/health-wellness/49-of-executive-leaders-say-financial-stress-preventing-frontline-staff-from-doing-best-work-survey/ Mon, 15 Jul 2024 19:00:59 +0000 https://www.benefitscanada.com/?p=158117 Nearly half (49 per cent) of executive leaders say financial stress often or very often prevents their frontline workers from doing their best work, according to a new survey by Dayforce Inc. The survey, which polled more than 6,900 workers, managers and executives from companies with frontline workers across the globe, found 62 per cent of […]

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]]> 83% of U.S. workers concerned increasing cost of living, inflation will make it harder to save for retirement: survey https://www.benefitscanada.com/news/bencan/83-of-u-s-workers-concerned-increasing-cost-of-living-inflation-will-make-it-harder-to-save-for-retirement-survey/ Fri, 05 Jul 2024 13:00:19 +0000 https://www.benefitscanada.com/?p=157719 A majority (83 per cent) of U.S. workers say they’re concerned the increasing cost of living will make it harder to save for retirement and more than three-quarters (78 per cent) are concerned inflation will stay high, according to a new survey by the Employee Benefit Research Institute and Greenwald Research. The survey, which polled […]

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]]> 52% of U.S. private sector workers with employer-sponsored retirement plans say they contribute: survey https://www.benefitscanada.com/pensions/retirement/52-of-u-s-private-sector-workers-with-employer-sponsored-retirement-plans-say-they-contribute-survey/ Mon, 29 Apr 2024 19:00:05 +0000 https://www.benefitscanada.com/?p=154917 While more than two-thirds (69 per cent) of private sector workers in the U.S. have access to an employer-sponsored retirement savings plan, just half (52 per cent) of these employees says they choose to participate, according to a new survey by GOBankingRates.com. The survey, which polled 1,000 workers, found more than a quarter (28 per cent) […]

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]]> Black, Hispanic American workers’ contributions to employer-sponsored retirement plans 40% lower than white workers’: study https://www.benefitscanada.com/pensions/retirement/black-hispanic-american-workers-contributions-to-employer-sponsored-retirement-plans-40-lower-than-white-workers-study/ Wed, 21 Feb 2024 14:00:29 +0000 https://www.benefitscanada.com/?p=152150 The average rate of contribution by U.S. Black and Hispanic workers to employer-sponsored retirement plans is roughly 40 per cent lower than that of white workers, according to a new working paper by the Massachusetts Institute of Technology’s Sloan School of Management. The paper examined responses from more than 12 million respondents aged 24 to […]

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]]> FSRA’s Pension Awareness Day helping engage, educate employees on benefits of workplace pension plans https://www.benefitscanada.com/pensions/defined-benefit-pensions/fsras-pension-awareness-day-helping-engage-educate-employees-on-benefits-of-workplace-pension-plans/ Wed, 14 Feb 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=151914 For its second annual Pension Awareness Day on Feb. 15, the Financial Services Regulatory Authority of Ontario is holding information sessions for its employees to learn more about their pension plan. Even people who actually have an employer-sponsored pension plan aren’t aware of the value of those benefits, says Andrew Fung, executive vice-president of pensions […]

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]]> Quebec’s amendment to unlocking rule for VBAs, LIFs providing retirees 55+ with financial flexibility: expert https://www.benefitscanada.com/pensions/retirement/quebecs-amendment-to-unlocking-rule-for-vbas-lifs-providing-retirees-55-with-financial-flexibility-expert/ Fri, 09 Feb 2024 14:00:14 +0000 https://www.benefitscanada.com/?p=151714 The Quebec government’s removal of the maximum annual amount that can be paid to people aged 55 and older with a variable benefit account tied to a defined contribution pension plan or with a life income fund is part of a broader push to provide retirees with more flexibility to draw on their locked-in retirement savings […]

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]]> 37% of U.S. employers say attraction, retention is No. 1 reason to offer non-qualified retirement plans: survey https://www.benefitscanada.com/pensions/retirement/37-of-u-s-employers-say-attraction-retention-is-no-1-reason-to-offer-non-qualified-retirement-plans-survey/ Thu, 17 Aug 2023 13:00:04 +0000 https://www.benefitscanada.com/?p=142295 More than a third (37 per cent) of U.S. employers that offer a non-qualified retirement plan say attraction and retention of key talent is their No. 1 reason for offering these plans, according to a new survey by WTW. The survey, which polled around 400 employers representing more than 7.5 million employees, found more than […]

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