Pension plans at Canadian universities have a combined solvency deficit of $2.59 billion and could face service cuts in order to make up the shortfall, according to a Globe and Mail survey. The survey of more than 20 Canadian universities shows many of the primarily defined benefit (DB) plans shed a substantial percentage of their […]
In January 2011, the first of Canada’s boomers—an estimated 344,000—will reach age 65. A new Investors Group poll reveals that while the majority of Canadian boomers are looking to retirement as a period of excitement and opportunity, 55% of those surveyed don’t believe they will be able to fund the lifestyle they want. Most of […]
A new research study released by the Mowat Centre at the University of Toronto examines the fiscal impact of gradually raising the minimum eligibility age for Canada Pension Plan/Quebec Pension Plan (CPP/QPP) benefits. The paper—Is 70 the New 65? Raising the Eligibility Age in Canada, by Martin Hering and Thomas R. Klassen—suggests that raising eligibility […]
According to Keith Ambachtsheer, president of KPA Advisory Services Ltd. and director of the Rotman International Centre for Pension Management, Canadian policymakers must choose between two leading pension reform models in order to ensure the country’s middle-income private-sector workers who do not have an employer-sponsored plan are able to maintain a comfortable living standard into […]
The fourth annual Benefits Canada Awards gala, held November 10, provided an opportunity for individuals in the pension and benefits community to gather and recognize some of the dedicated plan sponsors and money managers working to help provide Canadians with financial security into retirement years. The event at Toronto’s Fairmont Royal York Hotel was made […]
A new survey suggests that many Ontario small businesses are feeling pessimistic about the economy and believe that the provincial government’s policies are hurting their organizations. Results of the Canadian Federation of Independent Business (CFIB) survey of nearly 3,400 Ontario small businesses indicate that 65% of firms are very concerned about the state of the […]
A desire to do more with their golden years will keep a majority of baby boomers working through retirement, according to the latest Consumerology Report. “While most Canadians view retirement as a ‘second life’—an opportunity to do the things they really want—we found three quarters of Canadians are financially unprepared to afford the lifestyle they […]
Legislative changes over the past year have affected the landscape in which Canadian benefits plan sponsors operate. A presentation to delegates at the CPBI Western Regional Conference on Friday, Oct. 31 sought to examine whether these new regulations present threats or opportunities to plans, and what those in the industry might do to become more […]
Canadian governments need to focus on reforms that allow for increased retirement savings levels in order to ensure individuals have adequate replacement income at retirement. That was a key message delivered by a panel of speakers at the CPBI Western Regional Conference, held in Banff, Alberta from Oct.27 to Oct.29. Current OECD standards for […]
The recent economic slowdown forced many Canadian companies into survival mode. But amidst the doom and gloom, a group of far-sighted corporations have focused on weathering the storm and preparing for the future by strengthening their workplaces and ensuring continued employee satisfaction. These organizations have been recognized in the 2011 edition of Canada’s Top 100 […]