People are saving more for retirement and investing more appropriately for their age, improving the overall state of retirement readiness in the U.S., according to a new study by Fidelity Investments. Its biennial Retirement Savings Assessment study, which factors in data from 4,650 respondents, found that the number of people who are likely to be able to afford at […]
CPP benefits to increase by 1.2%
The gender pay gap could be impacting women’s mental health, according to a new study by Columbia University’s Mailman School of Public Health. The study surveyed 22,581 working American adults, matching women and men by factors such as age, education, occupation and family composition. It found that among women whose income was lower than their male […]
A U.S. District Court judge has denied an attempt by FedEx to throw out a lawsuit around same-sex survivor pension benefits. The lawsuit was filed by Stacey Schuett, the widow of a long-time FedEx employee, who has been denied the survivor pension benefits her same-sex spouse earned during her career with the company. FedEx refuses […]
New benefit amounts for the Canada Pension Plan (CPP) and Old Age Security (OAS) came in from January 1, 2016. CPP benefits will increase by 1.2% for those already receiving the benefits. For 2016, the maximum CPP retirement benefit for new recipients age 65 will be $1,092.50 per month, an increase of $330 for the year […]
Mercer has acquired CPSG Partners, a Workday services partner, to meet the demand for cloud-based finance and HR services. The acquisition will expand Mercer’s existing Workday practice while providing a global distribution channel for CPSG, according to a press release. The addition of CPSG will help Mercer to expand the scope of its services into […]
The merger between Towers Watson and Willis was completed on Jan. 4, with the new business to be known as Willis Towers Watson. A revised merger had been approved by shareholders in mid-December. Read: Towers Watson and Willis shareholders approve revised merger As previously disclosed, Willis Towers Watson expects to generate $4.7 billion in incremental value for […]
The solvency position of Canadian pension plans were down slightly in 2015, according to the latest Mercer Pension Health Index. The median solvency ratio of the pension plans of Mercer’s clients stood at 85% on December 31, 2015, down from 88% at the beginning of the year, with around nine out of 10 plans still […]
The average pay of Canada’s highest-paid CEOs by 12:18pm on Monday, January 4 was $48,636, an amount it takes the average full-time employee the rest of the year to earn, according to a new report. The Canadian Centre for Policy Alternatives’ (CCPA) annual study of CEO pay in Canada shows that the country’s top 100 CEOs […]
Major changes to the rules around the funding of private sector defined benefit pension plans took effect on January 1, 2016 in Quebec. The changes in Bill 57 include: Eliminating solvency funding; Requiring that going-concern funding be augmented by funding towards a stabilization provision, the amount of which will be specific to each plan’s investment policy; and […]