More than half (54 per cent) of employees without a workplace retirement savings plan — including 77 per cent of millennials — say they’d participate in an employer-sponsored plan if it offered emergency savings features, according to a new survey by Natixis Investment Managers. The survey, which polled more than 700 U.S. employees, also found nearly three-quarters […]
Alcoa Corp. is de-risking roughly $315 million (US$235 million) in Canadian defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be executed by Industrial Alliance Insurance and Financial Services Inc., which will assume payments for roughly 500 participants in September, according to a press release. Read: Alcoa entering $1BN […]
The rules governing registered retirement income funds and similar retirement vehicles are stuck in the past and need revamping or removal, according to a new report by the C.D. Howe Institute. With the current rules, the purchasing power of minimum RRIF withdrawals could fall to half their initial value by the time a retiree reaches […]
An article on why a higher salary is the No. 1 reason employees are searching for a new job was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 40% of Canadian workers say they aren’t fairly paid: survey 2. 45% of Canadian autistic employees feel […]
More than 54 per cent of 401(k) plan sponsors say they prefer to keep their retired members’ assets in their plan, a notable increase from 26 per cent in 2019, according to a new survey by Cerulli Associates. Looking specifically at pension plans intermediated by institutional investment consultants, 35 per cent of respondents said they […]
The Association of Canadian Pension Management is urging the Financial Services Regulatory Authority of Ontario to apply a best practices approach for the pension sector in its information technology risk management guidance. In an open letter to the FSRA, the ACPM said a real-time reporting framework for material IT risk incidents could result in a […]
The Ontario Municipal Employees’ Retirement System is appointing Ashish Goyal as executive vice-president and head of Asia-Pacific. In the new role, he’ll oversee investments across various asset classes in the Asia-Pacific region, reporting to Ralph Berg, the OMERS’ chief investment officer. He’ll continue to operate out of the pension fund’s Singapore office but will also […]
Two in five (43 per cent) Canadian employees say they’re concerned about their financial future, according to Telus Health’s latest mental-health index. Nearly half (45 per cent) of respondents said they feel overwhelmed by debt, with this group reporting the lowest mental-health (53.4) and financial well-being (48.1) scores. Indeed, the report found Canadians’ mental-health score […]
Defined benefit pension plan sponsors in the U.S. are facing increasing costs when de-risking through annuity buyouts, according to a new report by consulting firm Milliman Inc. It found the estimated cost to transfer risk to an insurer increased in February to 99.7 per cent of a plan’s total liabilities, up from 99.3 per cent […]
An article on a 2023 budget proposal to require employers to report dental coverage as part of the national dental-care program was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Enhanced national dental plan to require reporting of employer-provided coverage: budget 2. CAAT raising DBplus […]
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