A new collective agreement for 6,500 health-care employees in Nova Scotia includes a new employee retention incentive and the option to take a payout from a long-service retirement allowance. The Nova Scotia Government and General Employees Union said mediator-arbitrator William Kaplan also awarded increased shift premiums for employees in the health-care bargaining unit at the Nova Scotia […]
While retirement income security is top of mind for many Canadians, British Columbia’s public sector pension plans are noteworthy models that can be emulated by sponsors seeking plan design solutions, particularly when it comes to governance. Some other Canadian jurisdictions have introduced, or are in the process of developing, pension governance models similar to British Columbia, but […]
Improving the mental health of employees ranks ahead of physical health and wellness as a top priority for human resources leaders for 2019, according to a new survey by Morneau Shepell Ltd. The survey, which polled nearly 400 Canadian organizations, found 48 per cent of HR leaders view improving the mental health of their workforce as a top priority, narrowing passing […]
Nearly two-thirds (61 per cent) of older workers in the United States said they’ve experienced age discrimination in the workplace, according to a survey by the American Association of Retired Persons. The survey, which polled 3,900 Americans who are aged 45 or older, also found 91 per cent of respondents reported age discrimination is very or somewhat common. It starts when employees are […]
Cashiers will often ask Canadian consumers if they’d like to donate to a charity as they pay for items at retail stores. But what about applying the concept to retirement savings? A pilot project in Mexico is taking voluntary contributions at the checkout counter to a whole new level by nudging people who are buying […]
The Canadian Association of Pension Supervisory Authorities’ latest consultation is seeking feedback on amendments to its guideline No. 8 for defined contribution pension plans, focusing on considerations around decumulation, such as communicating variable benefits, assumptions used in retirement projections and fee disclosure. When it comes to withdrawals from a variable benefits plan, according to the amended guideline, plan administrators […]
The vast majority (91.8 per cent) of British Columbia’s government employees were covered by a registered pension plan in 2017, compared to just 17.7 per cent of their counterparts in the province’s private sector, according to a new report by the Fraser Institute. Among those covered by a registered pension, 94 per cent of government […]
Many Canadians are challenged to overcome barriers to retirement planning, such as the perception that the process is too lengthy, complicated and overwhelming. But if these barriers can be effectively removed, the financial security of Canadians would be improved. As part of its seniors strategy, the Ontario Securities Commission studied and analyzed barriers to retirement planning […]
More than 80 per cent of eligible Siemens Canada employees are now shareholders in the company. The global industrial manufacturing firm recently distributed a total of 400 million euros from a profit-sharing pool to employees in 102 countries. In total, about 300,000 of the company’s 377,000 staff worldwide now hold Siemens’ shares. Read: How Canadian Tire connects retirement […]
The iA Financial Group is integrating its group savings and retirement plans into its mobile app. The added functionality aims to allow plan members to track their retirement savings and investment returns, including their progress on the path to retirement and whether or not their investment portfolio is still a good fit. Read: iA Financial rolls out new […]