The National Association of Federal Retirees and the United Way Centraide North East Ontario/Nord-est de l’Ontario are the latest employers to join the Colleges of Applied Arts and Technology pension plan’s DBplus. The National Association of Federal Retirees, which represents nearly 18,000 members from a variety of pension plans, joined DBplus as of Oct. 22. “It […]
The union representing employees at a Loblaw Co. Ltd. distribution centre in Ajax, Ont. has ratified a new four-year contract that will increase employer contributions to a group registered retirement savings plan. For workers with five or more years of service, the employer’s RRSP contribution match will increase to five per cent from 3.5 per […]
A story on the federal government’s economic and fiscal update took the top spot over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. Federal government extending pandemic aid for employers, employees 2. Ontario recommending introduction of new portable benefits program 3. Toronto’s Juno College planning to move to 100% employee-ownership […]
At the 2021 Defined Contribution Plan Summit, which was hosted virtually on Oct. 6, delegates heard about several pressing issues facing DC plan sponsors and members, including an ageing demographic, decumulation, education around investment options and required legislative updates. Here’s what you missed: CPP/QPP delay a simple solution to improving retirement readiness Using DC investments […]
Managing and drawing down retirement savings is an “impossible task” with contributing factors including the trend away from workplace pension plans, historically low interest rates and high life expectancies. In the keynote address at Benefits Canada‘s 2021 DC Plan Summit, Bonnie-Jeanne MacDonald (pictured), director of financial security research at Ryerson University’s National Institute on Ageing, […]
While it’s easy to get into the weeds of inflation in the current economic environment, the fundamental question for DC plan sponsors and their members is its impact on a traditional 60/40 multi-asset class investment portfolio. “In normal times, that diversification benefit that we know and love in a multi-asset class portfolio, where stocks do […]
Low financial literacy and the slow pace of legislative frameworks are among the challenges hindering Canadian DC plans from offering in-plan decumulation options, according to a panel discussion at the event. Speaking during a panel discussion at Benefits Canada‘s 2021 DC Plan Summit, Michael Dodd (pictured, far left), associate vice-president of pensions, treasury and shareholder […]
While target-date funds are highly prevalent in defined contribution pension plans’ investment portfolios, gaining space as the default of choice, areas of improvement exist in terms of educating plan members about the option. During Benefits Canada‘s 2021 DC Plan Summit, Jessica Sclafani (pictured), director and DC strategist in the investment solutions group at MFS Investment Management, […]
While the coronavirus pandemic has taken a heavy toll among the elderly, retirees have seen their pension payments and entitlements well protected in Canada and other member countries of the Organisation for Economic Co-operation and Development, according to a new report from the organization. The average retirement age in Canada is 63.9 years for men […]
The federal government is extending several coronavirus pandemic aid measures as the pandemic rages on. During the economic and fiscal update on Tuesday, the government announced it’s extending the simplified rules for deducting home office expenses and increasing the temporary flat rate from $400 to $500 annually. In 2020, the government set out a temporary flat-rate […]