The federal government’s promise to encourage Canadian institutional investors to invest more domestically is taking shape with two key initiatives found in the 2024 budget. The first involves the creation of a working group led by Stephen Poloz, former Governor of the Bank of Canada, to explore domestic opportunities for Canadian institutional investors in various […]
The Association of Professors of the University of Ottawa and the Ontario Confederation of University Faculty Associations are joining the University Pension Plan, as of April 30, 2024. Since its inception in July 2021, the UPP has seen a number of plan sponsors join the plan, beginning with the University of Toronto Faculty Association, the University of […]
A Saskatchewan arbitrator has ruled that Canadian Blood Services doesn’t owe an employee eight years of retroactive pension contributions because it took the proper steps to fix its failure to provide her with enrolment forms within the appropriate time limits. “The decision recognizes that mistakes happen in administering pension plans and that administrators can take […]
Warehouse workers and transportation drivers employed by Martin Brower in Ontario have ratified a three-year collective agreement that includes pension and benefits gains. The workers, who are members of Unifor Local 1285, reached an agreement that will see pension contributions increase by $100, up to $700 over the life of the agreement, and the employer […]
An article on the federal government’s financial sanctions against the Canada Life Assurance Co. following delayed benefits access for public employees was the most-read article on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Canada Life facing gov’t financial sanctions following delayed benefits access for public […]
PepsiCo Canada is baking flexibility into its retirement savings benefits to support employees’ financial security amid the rising cost of living. To help employees reach their retirement savings goal, the food and beverage company is matching employees’ bonuses up to 3.5 per cent, with the employer contribution automatically directed into their defined contribution pension plan. […]
The Independent Electricity System Operator’s pension plan is in the midst of a comeback from a period of heightened post-coronavirus pandemic volatility, with diversification as the key to its investment roadmap, says Jeannette Briggs, the organization’s director of corporate finance and who served as chair of its pension management committee from 2021 to 2023. After […]
While real assets are largely absent among the investment options offered by Canadian defined contribution pension plans, they can offer significant long-term benefits to plan members, said Andrew Knox, managing director of Franklin Templeton Investments’ global real assets fund, during a session at Benefits Canada’s 2024 DC Plan Summit in February. “[Defined contribution] investors in […]
During a panel discussion at Benefits Canada’s 2024 Defined Contribution Plan Summit in February, three defined contribution plan sponsors shared their respective decumulation journeys and their thoughts on where the DC plan sector is in terms of effectively supporting this particular phase of plan members’ lives. At ATCO Ltd., roughly 5,500 employees are enrolled across […]
The recent pressure put on Canadian pensions plans from private managers and governments to re-discover an investment home bias has been met with little enthusiasm, despite special interest by both federal and provincial governments to potentially tap pension fund capital for infrastructure given that current expenditure eats up a large share of the budget. Infrastructure […]