The George Hull Centre for Children & Families is joining the Colleges of Applied Arts and Technology’s DBplus pension plan. The Toronto-based non-profit organization previously sponsored a closed defined benefit pension plan and, for employees hired after 2010, a group registered retirement savings plan. Read: CAAT DBplus pension welcoming more members of Canadian legal community […]
The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the framework, the CAPSA said it will address topics such as plan design and conversion options, as well as member disclosure, spousal consent, plan termination, investment rules and regulatory oversight for […]
While the majority of Canadian pension and retirement savings plan sponsors view governance as a top priority, 24 per cent said they haven’t conducted a review of their governance policy in the past three years, according to a new survey by Aon. It found 21 per cent of respondents identified “outdated or inefficient plan governance […]
A majority (72 per cent) of plan sponsors believe their retirement savings plan is meeting its goals this year, up from roughly 66 per cent in 2020, according to a new survey by Fidelity Investments Inc. While 68 per cent said their employees are saving enough for retirement — up from 59 per cent in […]
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’ […]
Diversity, equity and inclusion is top of mind for many plan sponsors these days. And, while issues around retirement and pensions likely aren’t the key focus for employers looking to tackle DEI issues, they should be. This March, the Organisation for Economic Co-operation and Development released a study that found the pension gender gap, or the difference […]
More than 125,000 Canadians became active members in a registered pension plan in 2019, according to a new report by Statistics Canada. It found the number of active members was up two per cent from 2018 to just over 6.5 million. Women accounted for more than three-quarters of the increase in new memberships — up 97,500 from 2018 to 3.3 million — while about 28,000 more men joined […]
The 830 locked-out employees at Reliance Home Comfort sites in Ontario are heading back to work after their union ratified a new contract with the company on June 30. The new collective agreement includes two new paid sick days, improvements to the extended health benefits cost-sharing and a one per cent increase to the matching […]
Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]
Amazon.com Inc. is launching a digital health-care platform for its Canadian employees. The My Wellbeing platform provides employees with access to a range of health-care resources — including virtual physiotherapy sessions, a virtual gym, mental-health support and mindfulness sessions — according to a press release, which noted the platform runs targeted well-being campaigns and challenges […]