Defined contribution pension plans in Ontario can now offer variable benefits to their plan members. The provincial government passed a series of regulations under the Pension Benefits Act to allow the accounts, bringing it in line with every other jurisdiction in Canada except for New Brunswick and Newfoundland and Labrador. “The important thing is that […]
The Iron Ore Co. of Canada has purchased a $560 million group annuity buy-in that covers more than 3,700 defined benefit plan beneficiaries and current retirees. The transaction with Sun Life Financial and Morneau Shepell Ltd. represents the largest Canadian same-day deal with a single insurer, according to a press release. “We continue to see these transactions […]
Ontario’s pension benefits guarantee fund has successfully reclaimed some $200 million from monies allocated to pensioners in Nortel Networks Corp. bankruptcy proceedings. The silver lining for pensioners is that the decision by the Financial Services Tribunal finally puts an end to the uncertainty they’ve experienced since their benefits were cut off in 2010. “It would have […]
Internet-based programs are the future of mental-health therapy, according to Peter Gove, the former innovation leader in health management at Green Shield Canada, speaking during a session at Benefits Canada’s 2019 Toronto Mental Health Summit on Nov. 29. “Cognitive behavioural therapy is probably the most adaptable therapy to a digital environment because it’s very manualized — you […]
Mental health is a growing concern both in and out of the workplace, and employees with these issues often need days to deal with them. Paula Allen, vice-president of research and analytics at Morneau Shepell Ltd., suggests employers provide employees with workplace flexibility because “we’re not robots.” Specifically, she supports and encourages mental-health days, though she believes the real promise and […]
CAA Club Group is making virtual health care available to all its full- and part-time employees through its benefits plan. The program is a partnership between virtual care provider Maple and Morneau Shepell Ltd.’s employee assistance program. Employees will be able to reach doctors through Maple’s platform at any time of day and will be […]
The Swedish word “tack” translates to “thank you,” which is precisely what IKEA is saying to employees with its Tack! loyalty program. In Canada, the program operates as a deferred profit-sharing plan and is part of employees’ total rewards package. “The [program] was launched in 2013 based on the wish of IKEA founder Ingvar Kamprad […]
The Swedish word “tack” translates to “thank you,” which is precisely what IKEA is saying to employees with its Tack! loyalty program. In Canada, the program operates as a deferred profit-sharing plan and is part of employees’ total rewards package. “The [program] was launched in 2013 based on the wish of IKEA founder Ingvar Kamprad […]
Borden Ladner Gervais LLP is taking its employees’ mental health seriously. Four years ago, it implemented a strategy to focus on building awareness, reducing stigma and encouraging self-care and wellness. This started with one-on-one mental-health first aid training for all employees, says Laleh Moshiri, the Toronto-based law firm’s national director of diversity and inclusion. “Raising […]
After the Arthritis Society’s extensive advocacy for medical cannabis research, it seemed only natural for the organization to cover the drug under its employee benefits plan. In 2017, as it prepared to introduce the coverage, it brought together an expert panel, including doctors with extensive experience prescribing medical cannabis and expert pharmacists and advisors from […]