retirement income – Benefits Canada.com https://uat-cumulus.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 16 Jan 2025 20:41:36 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Dynamic pension pools a viable decumulation option for Canadians: report https://uat-cumulus.benefitscanada.com/pensions/retirement/dynamic-pension-pools-a-viable-decumulation-option-for-canadians-report/ Tue, 16 Nov 2021 14:00:45 +0000 https://www.benefitscanada.com/?p=111612 With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]

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]]> Helping employees understand the benefits of delaying CPP/QPP https://uat-cumulus.benefitscanada.com/archives_/benefits-canada-archive/helping-employees-understand-the-benefits-of-delaying-cpp-qpp/ Fri, 15 Oct 2021 12:54:56 +0000 https://www.benefitscanada.com/?p=109168 The old adage “good things come to those who wait” is especially true of Canada and Quebec Pension Plan benefits. A $1,000 monthly CPP/QPP benefit in today’s dollars at age 60 increases to $1,112.50 if the individual delays until age 61 and to $2,218.75 if they wait until age 70, equivalent to more than $100,000 […]

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]]> A quarter of Canadians delaying retirement due to pandemic: survey https://uat-cumulus.benefitscanada.com/pensions/retirement/a-quarter-of-canadians-delaying-retirement-due-to-pandemic-survey/ Thu, 30 Sep 2021 19:00:33 +0000 https://www.benefitscanada.com/?p=108716 Nearly a quarter (23 per cent) of working Canadians say the coronavirus pandemic has delayed their — or their spouse’s — timeline to retirement, according to a new survey by Ipsos on behalf the Canadian Institute of Actuaries. The survey, which polled more than 1,500 Canadians aged 18 and up, found the top reason for the […]

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]]> Income inequality reducing retirement security in U.S.: report https://uat-cumulus.benefitscanada.com/pensions/retirement/income-inequality-reducing-retirement-security-in-u-s-report/ Wed, 08 Sep 2021 13:00:11 +0000 https://www.benefitscanada.com/?p=106900 Income inequality in the U.S. is contributing to the growth of financial insecurity in retirement, exacerbated by a shift from pensions to individual 401(k) savings accounts, according to a new report by the U.S. National Institute On Retirement Security. It found in 2019, white households across three generations — baby boomers, generation X and millennials […]

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]]> Ontario Medical Association introducing new pension annuity offering https://uat-cumulus.benefitscanada.com/pensions/retirement/ontario-medical-association-members-saving-for-retirement-with-new-annuity-offering/ Mon, 16 Aug 2021 13:00:21 +0000 https://www.benefitscanada.com/?p=105715 The Ontario Medical Association is helping its members save for retirement with a new guaranteed lifetime income annuity. Kayte Fredrickson, vice-president of insurance for the OMA, says the annuity was developed in partnership with Brookfield Annuity Co. and Common Wealth Retirement, the OMA’s retirement plan administrator, to specifically meet the retirement needs of the province’s […]

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]]> Rio Tinto workers striking over pension plan, retirement benefits https://uat-cumulus.benefitscanada.com/pensions/retirement/rio-tinto-workers-striking-over-pension-plan-retirement-benefits/ Tue, 27 Jul 2021 13:00:04 +0000 https://www.benefitscanada.com/?p=104704 About 900 employees at Rio Tinto Group’s aluminum smelting facilities in Kitimat, B.C. are on strike after Unifor Local 2301 and the company failed to reach an agreement on July 25. The union continued negotiations with Rio Tinto until the strike deadline at midnight, according to a press release. Unifor is seeking changes to workers’ […]

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]]> 64% of DC plan sponsors looking to improve financial wellness programs: survey https://uat-cumulus.benefitscanada.com/pensions/cap/64-of-dc-clients-looking-to-improve-financial-wellness-programs-survey/ Thu, 22 Jul 2021 13:00:35 +0000 https://www.benefitscanada.com/?p=104397 The majority (64 per cent) of consulting and advisory firms said their plan sponsor clients are looking to improve financial wellness programs, according to a new defined contribution plan consulting survey by PIMCO. The same percentage (64 per cent) of respondents said plan sponsors want to improve participant retirement education and evaluate investment fees. The […]

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]]> CAAT DBplus pension welcoming more members of Canadian legal community https://uat-cumulus.benefitscanada.com/pensions/defined-benefit-pensions/caat-dbplus-pension-welcoming-more-members-of-canadian-legal-community/ Tue, 20 Jul 2021 13:00:16 +0000 https://www.benefitscanada.com/?p=104211 The College of Applied Arts and Technology’s DBplus pension plan is welcoming more members of Canada’s legal community through an affinity agreement between the pension and the Canadian Bar Insurance Association. According to a press release from the CAAT, employees from 42 smaller law firms joined the DBplus plan in the first six months of […]

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]]> Indigenous, racialized seniors have less retirement security: report https://uat-cumulus.benefitscanada.com/pensions/retirement/indigenous-racialized-seniors-have-less-retirement-security-report/ Wed, 16 Jun 2021 13:00:39 +0000 https://www.benefitscanada.com/?p=102193 Indigenous and racialized seniors have less retirement security and higher poverty rates than white seniors in Canada, according to a new report by the Canadian Centre for Policy Alternatives. Based on data from the 2016 census, the report found Indigenous seniors have an average income of $32,200 and a poverty rate of 21.5 per cent, […]

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]]> Language, communication shaping DC plan members’ retirement decisions: survey https://uat-cumulus.benefitscanada.com/pensions/cap/language-communication-shaping-dc-plan-members-retirement-decisions-survey/ Fri, 14 May 2021 13:10:31 +0000 https://www.benefitscanada.com/?p=100505 Language and communication can impact the retirement decisions of defined contribution plan members, according to a new survey by Invesco Ltd. The survey found 60 per cent of all respondents — as well as 50 per cent of millennials and 59 per cent of gen-Xers — would rather achieve retirement “income” than retirement “savings.” Nearly […]

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