Canada’s life and health insurers paid out a record $114 billion in health and retirement benefits last year, up $11 billion since before the coronavirus pandemic and up 60 per cent from a decade ago, according to the Canadian Life and Health Insurance Association’s annual fact book. “During a year when many households faced higher […]
Alberta’s opposition is launching its own survey on whether the province should leave the Canada Pension Plan, saying the government questionnaire is a “sham” and a “unicorn.” New Democratic Party finance critic Shannon Phillips says her party’s survey is to lay out a simple choice for Albertans, asking them whether they think leaving the CPP […]
More than 5,600 Ford of Canada workers have voted in favour of ratifying a three-year collective agreement that includes improvements to the defined contribution and defined benefit pension plans. The agreement “fundamentally transforms pension plans,” said Lana Payne, Unifor national president, in a press release. Under the agreement, the DB plan’s basic monthly benefit rate […]
A report commissioned by the Alberta government estimates the province would be entitled to more than half the assets of the Canada Pension Plan if it were to exit the national retirement savings program and go it alone. A third-party report compiled by consultant LifeWorks Inc. (now part of Telus Health) calculated that if Alberta gave the […]
Public defined benefit pension plans can play a critical role in delivering adequate retirement income for U.S. retirees, while providing a key buffer against economic hardship for women, the Black, Indigenous and people of colour communities and workers without a college degree, according to a new report by the National Institute on Retirement Security and […]
An article on the Canadian Association of Pension Supervisory Authorities’ new risk management guideline was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CAPSA’s risk management guideline adaptable to changes in cybersecurity, ESG: webinar 2. How hybrid workplaces and employees can navigate flu season 3. Canadian employers say competing […]
While Canada has had pay equity laws since the 1970s, gender pay gaps still exist, but new pay transparency legislation in British Columbia is aiming to make an impact. Paulette Senior, president and chief executive officer of the Canadian Women’s Foundation The pace of closing the gender pay gap is glacial. All kinds of reports […]
Working in the pension industry has always been aligned with Shannan Corey’s personal interests and values. Her father was an actuary so she was exposed to the pension industry from a very young age. After earning her mathematics degree at the University of Saskatchewan, she became an associate actuary, spending a few years in consulting […]
A third (34 per cent) of U.S. women say they don’t have access to an employer-sponsored retirement plan, while a fifth (22 per cent) say they’ve emptied their employer-sponsored retirement account to meet non-retirement expenses, according to a new survey by software company Iralogix Inc. The survey, which polled more than 200 women, found nearly […]
The Canadian Association of Pension Supervisory Authorities’ new risk management guideline allows for additional flexibility amid evolving issues such as cybersecurity and environmental, social and governance considerations, said David Bartucci, head of pension regulations and regulatory effectiveness at the Financial Services Regulatory Authority of Ontario and a member of the CAPSA’s risk management committee, during […]