CARP is highlighting the need for further protections for defined benefit pensions in its 2020 Ontario budget priorities. The submission noted CARP, formerly the Canadian Association of Retired Persons, supports the steps taken by the Financial Services Regulatory Authority of Ontario and the provincial government to bolster innovation in DB plan design, as well as reducing red […]
While more than half of Canadians agreed tax-free savings accounts (59 per cent) and registered retirement savings plans (57 per cent) are a crucial part of their savings strategy, 27 per cent admitted they don’t know the difference between the two options, according to a new survey by TD Canada Trust. “Many Canadians have both […]
The Co-operative Superannuation Society Pension Plan is making a deal with the Co-operators Group Ltd. on a longevity insurance agreement to protect its annuity offering. “CSS is very proud to have been providing an in-plan annuity option to our members for close to 50 years,” said Martin McInnis, executive director of CSS, in a press […]
Defined contribution pension plans in Ontario can now offer variable benefits to their plan members. The provincial government passed a series of regulations under the Pension Benefits Act to allow the accounts, bringing it in line with every other jurisdiction in Canada except for New Brunswick and Newfoundland and Labrador. “The important thing is that […]
Half (50 per cent) of pre-retirees said they plan to work in retirement but only 11 per cent of retirees reported they actually had returned to full- or part-time work, according to a new survey by Royal Bank of Canada. Its retirement myths and realities poll found pre-retiree respondents cited staying active mentally (64 per […]
A potential Alberta Pension Plan would expose Albertans to material underwriting risks and the potential for political involvement in decisions about the plan’s investment policy, according to a new report. The report — authored by Keith Ambachtscheer, founder of KPA Advisory Services Ltd. and adjunct professor at the University of Toronto’s Rotman School of Management — also estimated […]
Financial well-being benefits are on the rise in North America, according to a new survey by WorldatWork. Among the companies surveyed, 70 per cent said they currently offer financial well-being benefits, more than half said they intend to expand these benefits and 35 per cent said they’ve increased spending in this area. “Financial benefits play a critical […]
A new law expanding retirement plan options for small businesses may encourage more American companies to offer the benefits to their workers. The Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act, won final congressional approval in the Senate last month and was signed into law by President Donald Trump. One […]
French President Emmanuel Macron is preparing to launch a crucial week of negotiations with labour unions amid nationwide protests and transport strikes against the government’s plans to overhaul the pension system. French Finance Minister Bruno Le Maire told France Inter radio that “a compromise has never been so close,” as talks between the prime minister […]
The holiday season is a time to reflect on the events of 2019 and how they may affect trends in the year to come. I predict a couple of trends on the pension landscape in 2020: much needed progress on the expansion of decumulation options and the outsourcing of the chief investment officer function. Expansion of […]