Canadian boomers age 50 and up are concerned they haven’t saved enough for retirement, according to a new survey by the Royal Bank of Canada. It found the savings gap varies widely. Those with investable assets of more than $100,000 want to save, on average, $949,000 but are falling behind by $275,000, while those with investable assets of less […]
Support staff for the Prairie South School Division in Moose Jaw, Sask. have voted overwhelmingly in favour of job action, up to a full withdrawal of services, when the school year starts again. The staff, members of the Canadian Union of Public Employees 5512 chapter, object to their employer’s attempt to remove a long-service recognition benefit that provides employees with […]
Inflation must be taken into account when designing both plan sponsor and government retirement programs because, over time, it will undermine purchasing power. In terms of recruiting and retaining employees, workplace retirement plans are important, but they also represent a significant cost for employers. Inflation-adjusted government pension programs can help lower these costs. But plan sponsors and […]
Mercer and Wealthsimple Inc. are teaming up to create a digital saving and investing platform for Canadian employees. Mercer Invest Wise, which is a voluntary savings tool, is intended to be included in a total rewards package. Accessible online and as a mobile app, it allows employees to manage various savings and investment accounts, such as their […]
Population aging is taking place throughout the Americas, with the elderly expected to grow faster than the overall population between 2018 and 2025, according to a report by London-based analytics firm Global Data. The report found Canada already has more elderly people than children in its cities. And in the U.S., the same is expected over the […]
The union representing employees of Dominion Stores supermarkets in Newfoundland is accusing parent company, Loblaw Companies Ltd., of using an increasing number of part-time employees in order to eliminate full-time jobs. Loblaw offered voluntary buyout packages to its full-time staffers in Newfoundland in June, with the aim of eliminating 44 positions, as part of what […]
Nearly one-quarter of Americans said they never plan to retire, according to a poll from The Associated Press-NORC Center for Public Affairs Research that suggested a disconnect between individuals’ retirement plans and the realities of aging in the workforce. Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner […]
Hub International Ltd. is acquiring benefits and retirement consulting group BenefitLink Resource Group Edmonton Holdings Inc. The acquisition is part of Hub’s strategy to increase its offering of Canadian employee benefits and pensions services. The terms of the deal weren’t disclosed. “Businesses today need to proactively manage and navigate the ever-changing benefits and retirement landscape, which […]
Employers that provide financial wellness programs alongside traditional health and wellness offerings are likely to reap the benefits of a healthier workforce, according to new research by Prudential Financial Inc. The research surveyed 2,000 American employees who work at organizations that offer wellness benefits, such as gym memberships, fitness and diet advice and smoking cessation […]
Looking back over years of momentous corporate bankruptcies and their impact on defined benefit pension plan members, the current fervor around Sears Canada Inc. hardly seems to mark a new trend. Before Sears, and even before Stelco Inc., there was Nortel Networks Corp. In 2009, when the multinational telecommunications company filed for bankruptcy protection in […]