The solvency position of Canadian pension plans declined in the first quarter of 2016, an impact of volatile markets, according to two reports published this week. According to the Mercer Pension Health Index, the median solvency ratio of the consultancy’s pension clients stood at 82% on March 30, 2016, down from 85% at the beginning of the […]
As confirmed last week, the federal budget has restored the age of eligibility for old-age security to 65, a move some in the industry are questioning. The government proposed to cancel the provisions in the Old Age Security Act that increase the age of eligibility for old-age security and guaranteed income supplement benefits from 65 to 67 and […]
The Liberal government has announced it will launch a consultative process on the investment rule that restricts pension plans from holding more than 30 per cent of the voting shares of a company. According to the 2016 budget, announced on March 22, the public consultation on the usefulness of the 30-per-cent rule will begin “shortly.” Read: Scrapping pension […]
In its 2016 budget, the federal government proposed changes to the agreement powers of the Pension Benefits Standards Act. The changes, according to the budget document, would “broaden the scope of its ability to enter into bilateral agreements with provinces under the PBSA, which will better allow the federal and provincial governments to work together to […]
A comparison of pension systems in Canada and Britain isn’t an apples-to-apples exercise — or even apples to grapefruits. But when it comes to pension reform, there are definitely overarching lessons for Canada. Britain’s reforms, of which auto-enrolment is a signature component, got underway in October 2012 with the country’s largest employers mandated to automatically […]
Of the 114 multinational companies that participated in the last Mercer global benefits governance survey, 84 per cent of respondents said they believed their existing global benefits governance structures were insufficient to meet current and future needs. In light of this finding, how do other Canadian-based multinational companies manage their global benefits plans and, more […]
The top rewards-related issue during a merger and acquisition transaction is medical benefits, a key area of focus in 92% of projects analyzed by Mercer for its first People Risks in M&A Transactions report. The report, which included the analysis of nearly 450 transaction assignments and some 300 M&A professionals, found that about 80% of the transactions […]
Caisse de dépôt et placement du Québec has appointed Jean Michel as executive vice-president, advisory services to depositors and strategic analysis. Michel will start his new job on March 7, 2016. In his new role, Michel will manage the relationship with the Caisse’s clients and take part in overseeing investment strategies. Until recently, Michel was […]
Employee benefits plan design has changed very little over the last several decades. Sure, there have been subtle tweaks over the years, but the basic plan design fundamentals have stayed the same. Recently we’ve seen some innovation in the areas of plan management, increased plan flexibility and a greatly enhanced employee experience, but in many respects the […]
While employers strive to provide the right balance in their total rewards strategies, there’s sometimes a disconnect between what they offer their employees and what staff say they need and want. Employees are asking for more choice and the ability to customize their benefits from both a health and financial perspective. Adding a selection of […]