Retraite Quebec is implementing two temporary easing measures to help supplemental pension plan administrators during the coronavirus outbreak. The measures involve extending deadlines for certain regulatory and legal obligations, as well as an update to the degree of solvency that must be taken into account for transfers and refunds under defined benefit pension plans. Deadlines for […]
Financial hardship is hitting employers across Canada and they’re starting to make difficult choices around cost-cutting measures within their businesses. “Some plan sponsors may be considering changes to their plan design to address these cost concerns during these turbulent times,” said Jana Steele, partner and department chair of the pension and benefits team at Osler, Hoskin […]
While treatment options for cancer are more than they used to be, many still aren’t covered under the public health-care system, according to Tim Clarke, president of TC Health Consulting Inc. In a session at Benefits Canada’s 2020 Employers Cancer Care Summit on Mar. 3, he said employer costs for cancer drug treatments have doubled between […]
The Empire Life Insurance Co. is partnering with Rimouski, Que.-based insurtech company Magik-Net to build a real-time platform for third-party administrators. The platform aims to help TPAs handle tasks related to the administration of employers’ group benefits plans. It’s also designed to reduce the time insurers spend processing files and confirming successful transactions. Read: The value-added proposition of group […]
Sun Life is launching Equinoxe LifeCare’s virtual medical evaluation services to help plan sponsors with disability management. The service allows plan members and their dependants to connect with virtual health-care services and licensed health-care practitioners. It also enables them to consult with medical professionals through secure video or chat via smartphone, tablet or computer. In addition, the service allows plan members to requisition […]
In its capacity as plan administrator, Morneau Shepell Ltd. purchased several buy-in annuity contracts for the Stelco Inc. pension plan in July. The goals of the transaction are to preserve the favourable financial position of the plan, ensure fair treatment of all members and maximize benefit protection, said Morneau Shepell in a press release. The Canada Life Assurance Co., […]