Prince Edward Island has added six new drugs to the provincial formulary. People dealing with arthritis, diabetes, chronic obstructive pulmonary disease, lung cancer, heart failure and those receiving radiation therapy will now have help in paying for prescription medications. The promise to help provide better access to medications was made in the 2019-20 provincial budget […]
Institutional investors are focusing on board diversity and an increased clarity of communication with their portfolio companies, according to a new report by EY. The report, which examined investor activities during the 2019 proxy-voting season, found institutional investor pressure on companies to increase the gender diversity of their boards is beginning to take effect. As well, […]
The Financial Services Regulatory Authority is creating three new technical advisory committees, which will provide advice and feedback to the regulator on pension sector related matters and will form part of its stakeholder engagement process going forward. The aim is to improve processes and approaches to regulation and reduce regulatory burden, noted a press release. In its first year of […]
Staff members at three Ontario universities are one step closer to a new jointly sponsored pension plan. Three faculty groups and three affiliated United Steelworkers local unions for the University of Toronto, University of Guelph and Queen’s University finished voting on June 28 to create the University Pension Plan, a defined benefit arrangement that will […]
Environmental, social and governance issues are becoming a bigger part of executive compensation, according to a new report by Mercer. In a survey of 135 North American organizations, 30 per cent said they’re currently using ESG metrics in their incentive plans, while 21 per cent are considering doing so. It also found organizations are more […]
An expert panel on sustainable finance is advocating for the government to implement a number of recommendations, including some related to pension plans and individual retirement savings accounts. For defined contribution plans, other group pension programs and registered retirement savings plans, the report suggested offering tax-based financial incentives for people who invest in accredited climate-conscious […]
The Ontario government is combining two agencies to create one pension and financial services regulator aside from securities. As of June 8, the Financial Services Regulatory Authority of Ontario replaces the Financial Services Commission of Ontario and the Deposit Insurance Corp. of Ontario as an integrated, independent and self-funded regulator. Read: A look ahead at pension […]
The Canadian Life and Health Insurance Association is withdrawing guideline G19 on advisor compensation for group benefits and retirement services. “Following extensive discussions with market players, including advisors and their associations, and careful consideration of what we heard, we have decided to withdraw this industry guideline,” said Stephen Frank, CLHIA’s president and chief executive officer, in […]
Canada’s public sector pension plans are well-respected internationally for their administration, independent governance, investments, regulation and plan design. And British Columbia’s municipal pension plan is no exception. The plan’s members include firefighters, police, nurses and other health-care workers, city workers, non-teaching staff at schools and colleges, community social service providers, and more — people who are […]
Though more than half of Canadian capital accumulation plan members feel financially prepared for retirement, there’s a distinct difference across generations. Given their proximity to retirement, it’s no surprise baby boomers (69 per cent) are the age cohort most likely to agree they feel prepared, compared to 59 per cent of generation X and 41 […]