OMERS boosts contribution rate to plug deficit
CANADA - The Ontario Municipal Employees Retirement System will increase its contribution rate in 2012 as part of a pre-agreed plan for yearly rate hikes in the three years to 2013.
Employer and employee contribution rates will increase by about 1% each. Contribution rates for members retiring at 65 and earning up to C$48,300 ($50,127) will hit 8.3% in 2012. The rate can vary depending...
More on Canada
Exclusive: DB sponsor profit warnings trend continues unwelcome escalation
Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.
Two-in-three DB sponsors issue profit warnings in 2020
“Mounting red flags of financial stress” have meant almost two-thirds of listed companies with defined benefit (DB) schemes have issued profit warnings this year, EY says.
Justin Corliss: Making the case for partial DB transfers
Half-way house
A Covid-19 tax relief raid could exacerbate generational pensions divide
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
Trustees told to step up as FCA contingent charging ban takes effect
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
