The Financial Services Regulatory Authority of Ontario has updated its guidance on the roles and responsibilities of pension plan administrators, adding three additional areas for administrators to enhance protection and stability for pension plan beneficiaries. The guidance, which took effect earlier this month, stated an administrator is responsible for all aspects of the administration of the […]
Online gig economy platform Taskrabbit Inc. is providing U.S. gig workers with retirement benefits through a new initiative. The program, in partnership with financial services firm Robinhood Markets Inc., provides workers with access to a match program for individual retirement account contributions. During the first year of enrolment, workers receive a two per cent match on […]
Nearly two-thirds (63 per cent) of Americans say they worry more about running out of money than death, up from 57 per cent in 2022, according to a new survey by the Allianz Life Insurance Co. of North America. The survey, which polled more than 1,000 employees with $150,000 investable assets, found generation X was […]
An article on the federal government’s financial sanctions against the Canada Life Assurance Co. following delayed benefits access for public employees was the most-read article on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Canada Life facing gov’t financial sanctions following delayed benefits access for public […]
PepsiCo Canada is baking flexibility into its retirement savings benefits to support employees’ financial security amid the rising cost of living. To help employees reach their retirement savings goal, the food and beverage company is matching employees’ bonuses up to 3.5 per cent, with the employer contribution automatically directed into their defined contribution pension plan. […]
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) […]
Only a third (31 per cent) of U.K. pension plan members say they have sufficient retirement savings, down slightly from 32 per cent in 2022, according to a survey by Trafalgar House. The survey, which polled 2,000 adults, found 48 per cent believe they’ve saved much less than they need, up from 45 per cent. […]
Three-quarters (74 per cent) of Canadians aged 24 to 44 say the conventional approach to retirement — halting work at age 65 to enjoy a life of leisure — is an outdated concept, according to a new survey by Leger on behalf of Wealthsimple. The survey, which polled more than 1,500 Canadians, found roughly 60 […]
RendA+, an innovative bond instrument in Brazil, is serving as a relatively safe asset for defined contribution pension plans and lowering retirement risk, especially for those without a workplace pension plan. At a 2019 retirement security conference held in Brazil, Arun Muralidhar, chairman and chief investment officer at AlphaEngine Global Investment Solutions, proposed the introduction […]
Just 14 per cent of near-retirees say they can retire with confidence and only five per cent say they’ve sought financial advice from their employer, according to a new survey by Deloitte. A third (31 per cent) of near-retirees said they’ll need to rely on the Canada Pension Plan or Quebec Pension Plan to sustain their […]