The federal government recently announced plans to introduce legislation in the fall expanding pension eligibility to frontline public safety and law enforcement workers in Canada. The legislation is welcomed by the Public Service Alliance of Canada and the Customs and Immigration Union after they’ve advocated for more than a decade for equitable retirement benefits for […]
Six in 10 (59 per cent) Canadians with an employer-sponsored pension plan say they feel somewhat or very well prepared for retirement, compared to only 34 per cent of respondents without a workplace pension plan, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 2,000 Canadian employees, found fewer than […]
The Financial Services Regulatory Authority of Ontario has updated its guidance on the roles and responsibilities of pension plan administrators, adding three additional areas for administrators to enhance protection and stability for pension plan beneficiaries. The guidance, which took effect earlier this month, stated an administrator is responsible for all aspects of the administration of the […]
The union representing more than 460 employees at Nestlé in Toronto has ratified a three-year collective agreement that includes pension and benefits gains, ending a strike that began on May 5. The agreement includes a $1 increase each year in the defined benefit pension plan for non-skilled trades and $2 each year for skilled trades. […]
In anticipation of 25 per cent to 35 per cent growth in Canada by the end of 2024, restaurant chain Chipotle Mexican Grill Inc. is making staff development a key part of its attraction and retention strategy. This focus on employee development has contributed to an internal promotion rate of 87 per cent and has led […]
The union representing 120 employees working across Canada for U.S. telecommunications company Zayo Group has ratified a four-year collective agreement that includes pension and benefits gains. Unifor Local 2000A was able to protect and maintain the company’s defined benefit pension plan; however, the employee contribution will increase from three per cent to 4.5 per cent. […]
The union representing more than 160 employees at facilities services provider Robinson Solutions in Oshawa, Ont. has ratified a three-year collective agreement that includes pension and benefits gains. The agreement includes enrolment in the Colleges of Applied Arts and Technology’s DBplus pension plan with a two per cent employer contribution. As well, full-time employees will […]
3M will freeze its U.S. defined benefit pension plans for non-union U.S. employees, effective Dec. 31, 2028, and move plan members to a 401(k) plan structure. Eligible employees will continue to accrue benefits under the pension plans until the freeze date, according to a press release, which noted this decision applies to both 3M and 3M Health Care. Former […]
After a five-day strike, the union representing 800 employees at Magna International Inc.’s Integram Seating factory in Windsor, Ont. has ratified a collective agreement that includes multiple benefits gains. The benefits gains include: vision coverage, from $250 every two years to $400; a rise in the basic annual dental maximum, from $1,600 to $1,900; an […]
Only 17 per cent of U.S. employees aged 50-plus and 23 per cent of retirees are very confident they’ll be able to maintain a comfortable lifestyle throughout retirement, according to a new survey by the Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute. The survey, which polled more than 10,000 U.S. employees, […]