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 […]
Nearly two-thirds (61 per cent) of Canadians say they’re afraid of running out of money in retirement, according to a new survey by the Canada Pension Plan Investment Board. The survey, which polled more than 4,700 Canadian adults, found more than two-thirds (67 per cent) of employees aged 28 to 44 are afraid they’ll run […]
Half (51 per cent) of Canadian employees say they’re behind in their retirement savings and 34 per cent are worried about not having enough money saved when they retire, according to a new survey by Manulife Financial Corp. The survey, which polled more than 1,500 employees and more than 500 retirees, found generation X (35 […]
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 […]
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 […]
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 […]
The federal government’s move to introduce legislation extending pension eligibility to frontline public safety and law enforcement workers after 25 years of service could help manage room for new hires and ensure stable plan maturity, says James Fu, partner and national leader of pensions and benefits law at Borden Ladner Gervais LLP. Hundreds of frontline workers […]
Three times a year, the roughly 600 employees of Friesens Corp. gather in front of the printing house to accept envelopes, each one holding a cheque for the workers’ share of company profits. They all get a cut because they’re all owners. The company, based in the small town of Altona, Man., is set up […]
The federal government recently announced plans to introduce legislation in the fall that will expand pension eligibility to frontline public safety and law enforcement workers in Canada. The legislation is welcomed by the Public Service Alliance of Canada and the Customs and Immigration Union after they’ve advocated for more than a decade for equitable retirement […]
Six in 10 (59 per cent) Canadians with an employer-sponsored pension plan say they feel somewhat or very well prepared for retirement, compared to only 34 per cent of respondents without a workplace pension plan, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 2,000 Canadian employees, found fewer than […]