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 […]
Unifor national president Jerry Dias and 13 other union members were arrested Monday night in Regina after the union blockaded the Federated Co-operatives Ltd. refinery as part of an ongoing conflict over employees’ defined benefit pension plan. The barricades are another escalation in an increasingly tense labour dispute that saw Co-op lock out more than […]
If most defined contribution pension plan members who invest their own money underperform those who invest through professionally managed options, how can plan sponsors encourage more uptake of default options? “By understanding the drivers associated with acceptance of a default investment, plan sponsors and defined contribution plan consultants might have additional success getting more participants […]
For the fourth consecutive year, reviewing fees is the most important step defined contribution plan sponsors are taking to improve their fiduciary positions, with fees identified as the main priority for 2020, according to a new survey by U.S.-based investment consulting firm Callan. “With the amount of fee-related project work we see, it’s not surprising […]
Financial well-being benefits are on the rise in North America, according to a new survey by WorldatWork. Among the companies surveyed, 70 per cent said they currently offer financial well-being benefits, more than half said they intend to expand these benefits and 35 per cent said they’ve increased spending in this area. “Financial benefits play a critical […]
On Friday, a judge in Norwich, U.K. ruled that ethical veganism qualifies as a philosophical belief under Britain’s Equality Act, in a pension-related case filed by ethical vegan Jordi Casamitjana against his former employer, the League Against Cruel Sports. In late 2018, Casamitjana took his grievance to Britain’s employment tribunal, alleging he was unduly dismissed for raising concerns over the organization’s […]
Arthur J. Gallagher & Co. has acquired Sinclair Billard and Weld Ltd. and CJM Solutions + Inc., which do business under the name SBW Employee Benefits. The Halifax-based organization designs, administers, markets and manages group benefits programs and defined contribution plans for employers and associations across Atlantic Canada. It also provides consulting advice on employee […]
About a year ago, Benefits Canada introduced a few new columns and features, including our Head to Head, where every month we choose a hot industry question and open up a two-person debate. I’m often tempted to join in the discussion, but ultimately fall on the side of restraint. This month, though, I can’t resist […]
This month’s Head to head considers the merits of both defined benefit and defined contribution plans as the country’s pension landscape becomes an increasingly diverse patchwork. Jerry Dias, president of Unifor National: Let’s cut to the chase. Absent a voice for workers through a union and collective bargaining, there really wouldn’t be much debate around defined […]
In November 2018, Niagara Casinos set up a pop-up coffee shop, called NC Café, across its three locations for a week. It was part of the company’s annual pension communications strategy, which also includes messaging on the employee intranet, seminars, targeted mailings and plan updates on fee reductions, contribution increases or investment fund changes. “This […]