The University of Victoria Students’ Society is the first Vancouver Island employer to join the Colleges of Applied Arts and Technology pension plan’s DBplus. By joining the plan, permanent employees at the UVSS represented by the United Steelworkers will have access to a pension with early retirement options, survivor benefits and inflation protection, noted a […]
The Canadian Life and Health Insurance Association is calling on the federal government to permit standalone variable payment life annuities to pool participants from all registered retirement plans. In its 2022 federal budget submission, the CLHIA said VPLAs, as enacted, will only be available to members of very large defined contribution pension plans, excluding Canadians […]
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 […]
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 It found 21 per cent of respondents identified “outdated or inefficient plan governance […]
In case you missed it, a recent legal opinion by pension lawyer Randy Bauslaugh suggested plan sponsors might be personally liable for failing to consider risks posed by climate change in the institutional investment decision-making process. Bauslaugh’s paper connected the dots between the current evidence on the materiality and urgency of the financial implications of climate change and the recent reflection of this […]
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 […]
The New Digital Research Infrastructure Organization, the Ontario Dental Association and its subsidiary Accerta are joining the Colleges of Applied Arts and Technology’s DBplus pension plan. The not-for-profit organization, dental association and health-care program administrator all recently transferred to the pension plan from group registered retirement savings plans. “The talent that we’re trying to attract typically […]
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 […]
Although women must work two years longer than men to be retirement ready, they still retire with 30 per cent less wealth than their male counterparts, according to a Mercer Canada retirement readiness report. The report found women enter retirement with lower retirement savings than men and they also must work longer to achieve retirement […]
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