The French government’s plans to reform the national pension system have been met by widespread protest. Elisabeth Borne, France’s prime minister, unveiled plans to raise the minimum age required to claim benefits from the Caisse Nationale d’Assurance Vieillesse from 62 to 64 by 2030. In addition, the government proposed that claimants will be required to […]
While many Alberta employers say they’d be disadvantaged if the province left the Canada Pension Plan, one expert says a provincial pension plan could benefit members by reducing contributions and increasing retirement savings. Last November, Alberta Premier Danielle Smith instructed the province’s finance minister to provide recommendations on the implementation of a provincial pension plan. According […]
Retiree spending of public and private sector pension benefits generated US$1.3 trillion in total economic output in the U.S. in 2020, supporting nearly 6.8 million jobs during the onset of the coronavirus pandemic, according to a new report by the National Institute on Retirement Security. It also found $612.6 billion in pension benefits were paid […]
An article on the the latest investments by Canadian institutional investment organizations was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ontario Teachers’ backing auto insurance merger, pension plans leap on new BMO equity 2. 75% of employers expecting hiring challenges in 2023: survey 3. Expert […]
Similar to 2022, the coming year will present both challenges and opportunities for defined benefit pension plan sponsors, with the rewards going to plan sponsors that are resilient, embrace change and are willing and able to act when opportunities arise. Several trends that will be top of mind in the year ahead are: Inflation The […]
For some Canadians, the term pension may still conjure images of a secure stash of money guaranteed to ensure a comfortable lifestyle in retirement. I should know — until joining Benefits Canada in 2020, I counted myself among this group. Defined benefit pension plans — the epitome of the image described above — still exist, but […]
Last October, Ontario’s pay equity office reported Canadian women received an average of 18 per cent less retirement income than men in 2020, which is three per cent higher than the gap observed in 1976, the earliest year for which data is available. How has progress moved backwards in the past 44 years, even though women are […]
Amid the lingering coronavirus pandemic, vaccination policies and paid sick leave were top of mind among Benefits Canada’s readers in 2022. However, stories about new employee benefits and compensation planning, as well as pension and retirement matters, also caught readers’ eyes. Here are Benefits Canada’s 10 most popular stories of the year: 1. Feds consider definition of ‘fully […]
The Canadian Coalition for Good Governance is joining the Colleges of Applied Arts and Technology pension plan’s DBplus arrangement. “Our participation in a [defined benefit] plan speaks to our beliefs and values as an organization and demonstrates our commitment to our employees,” said Catherine McCall, executive director of the CCGG, in a press release. “We […]
Arthur J. Gallagher & Co. is acquiring BCHR Holdings — also known as Buck — for US$660 million. Through the agreement, Gallagher will expand its retirement, benefits and human resources consulting services in Canada, the U.S. and the U.K., according to a press release, which noted Buck currently has 2,300 employees across these markets. Read: […]