Corby Spirit and Wine Ltd. and Hiram Walker & Sons Ltd. are de-risking with a $176-million group annuity buy-in amidst volatile markets caused by the coronavirus pandemic. The deal covers 750 retirees and beneficiaries and there will be no change for plan members, who will continue to be paid from the plan as before the […]
Being an office worker used to mean going to an office. Not anymore. A new day has already dawned for many, including the City of Toronto’s 14,500 white-collar employees, who’ve been working at home since the coronavirus pandemic hit in March. The quick switch to working from home wasn’t without some hiccups and skeptics at first, […]
Employers in the U.S. are changing policies related to vacation and paid time off in the wake of the coronavirus pandemic, according to a new survey by the International Foundation of Employee Benefit Plans. In a bid to help with recruitment and retention during these tumultuous times, nearly three-quarters of employers said they’re granting vacation or paid time […]
Institutional investors are focusing on equities and global markets as the economic effects of the coronavirus pandemic continue in Canada, according to a webinar hosted by Franklin Templeton Investments Corp. on Tuesday. In the keynote address, Stephen Poloz, former governor of the Bank of Canada, said the pandemic is amplifying the economic effects of five pre-existing […]
With the coronavirus pandemic affecting plan sponsors in different ways, they can return to the basics and use data to manage their benefits spend, according to a webinar hosted by the Canadian Pension and Benefits Institute on Tuesday. “It’s helpful for companies to pivot and take the conversation back to the basics, which is discussing the […]
New research is suggesting a bump in the number of fathers planning to take time off with a new baby under a nascent national leave program could be affected by the coronavirus pandemic. It’s been more than a year since the Canadian government started offering the use-it-or-lose-it extra weeks of paid leave for non-birthing parents. The program was […]
Despite several bumps in the decade since the 2008/09 financial crisis, the swift and brutal crash in global equity prices when the coronavirus was declared a pandemic sent pension investors reaching for their playbooks to implement defensive strategies to mitigate the damage. “People have worked very hard at just acting on the set strategies that […]
In Monday’s fall economic statement, the federal government proposed changes to employee stock option rules and offered additional support for essential workers. The statement provided an overview of the government’s approach to combating the ongoing coronavirus pandemic, while offering details on additional measures moving forward. The changes to employee stock option tax rules include an annual […]
In lieu of traditional end-of-year company celebration events and gifts, Manulife Financial Corp. is giving its 35,000 employees around the world $50 each and encouraging them to “pay it forward” this holiday season. In recognition of the hardships endured by many this year due to the coronavirus pandemic, the insurer is encouraging its employees to donate to individuals […]
Sobeys Inc. is bringing back pay premiums for staff in locations where coronavirus lockdowns are in effect. Parent company Empire Co. Ltd. has reinstated ‘hero pay’ in Manitoba, Toronto and Ontario’s Peel Region as rising cases of the virus in those areas have prompted the shutdown of non-essential businesses. Each week, eligible employees will see between $10 […]