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How PepsiCo Canada’s savings program is helping employees achieve financial security at any stage in life

lbailey — Fri, 10 May 2024 12:58:17 +0000

PepsiCo Canada is baking flexibility into its retirement savings benefits to support employees’ financial security amid the rising cost of living. To help employees reach their retirement savings goal, the food and beverage company is matching employees’ bonuses up to 3.5 per cent, with the employer contribution automatically directed into their defined contribution pension plan. […]

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How can DC plan sponsors solve the decumulation problem?

bwolfe — Fri, 10 May 2024 11:50:07 +0000

During a panel discussion at Benefits Canada’s 2024 Defined Contribution Plan Summit in February, three defined contribution plan sponsors shared their respective decumulation journeys and their thoughts on where the DC plan sector is in terms of effectively supporting this particular phase of plan members’ lives. At ATCO Ltd., roughly 5,500 employees are enrolled across […]

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Employer matching key to supporting young workers’ retirement readiness: report

bwolfe — Thu, 11 Apr 2024 13:00:24 +0000

Employer-sponsored retirement plans that offer matching contributions can help younger workers retire earlier and with more money, according to a new report by Mercer Canada. The report based its findings on a sample worker aged 30 earning $70,000 and with $30,000 of personal debt, using five per cent of their income to either pay down […]

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Q&A with PepsiCo Canada’s Jaye Calder

lbailey — Fri, 13 Oct 2023 12:53:01 +0000

The food and beverage company’s manager of pension, benefits and wellness discusses fostering an inclusive and supportive work environment, the importance of flexible benefits and the soothing silence of swimming. Q: What top challenges do you face in your role? A: In the realm of total rewards, simplification versus personalization is the challenge I experience […]

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Changes to tax rules can improve Canadians’ retirement security: report

bwolfe — Fri, 23 Jun 2023 13:00:17 +0000

Changes to tax rules can improve Canadians’ retirement security and make the retirement system more equitable, according to a new report by the C.D. Howe Institute. The report argued in favour of key changes to the accumulation phase, such as more equitable tax-deferred registered wealth accumulation limits, changes to the tax recognition of administrative expenses […]

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Half of Canadians planning to contribute to RRSPs despite cost-of-living challenges: survey

lbailey — Wed, 22 Feb 2023 14:00:16 +0000

Half (51 per cent) of Canadians are planning to contribute to their registered retirement savings plans this year — a substantial increase since last year (18 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,600 adults, found half (51 per cent) said cost of living is […]

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2022 CAP Suppliers Report: What’s on CAP sponsors’ wish lists for the coming year?

Sadie Janes — Fri, 16 Dec 2022 13:57:05 +0000

With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]

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Is the concept of financial independence and early retirement truly feasible?

Sadie Janes — Fri, 18 Nov 2022 14:01:18 +0000

The FIRE concept — financial independence and retiring early — is gaining traction among younger workers, but as appealing as early retirement may be, it isn’t very realistic given the current economic conditions, according to experts. Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University, notes the population […]

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Editorial: Employers embracing innovation, flexibility in DC plan design

lbailey — Fri, 12 Aug 2022 13:00:29 +0000

The uniting theme at the 2022 Defined Contribution Plan Summit was financial wellness, a chief concern for any employer that offers a pension plan to its workforce. In particular, with inflation reaching its highest level in four decades and people facing several competing financial priorities, including simple day-to-day expenses, plan sponsors are bringing flexibility to […]

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75% of Canadian employees believe there’s an emerging retirement crisis: survey

bwolfe — Fri, 24 Jun 2022 13:00:18 +0000

Two-thirds (66 per cent) of employees are willing to take a job with a lower salary and a pension plan than one with a higher salary and no pension, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 1,700 Canadian adults, found while employees close to retirement age […]

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