The high discount rates used by many Canadian public-sector pension plans increase the risk they won’t have enough funds to meet future obligations, according to new research by the C.D. Howe Institute “Employers and employees have an incentive to keep the discount rate high in order to reduce the contributions they pay today,” said Constance Smith, co-author […]
The Shareholder Association for Education and Research is calling on federal policymakers to adopt measures to protect workers’ retirement savings. In a letter to the federal government, the Vancouver-based, responsible investment organization suggested amending bankruptcy law to provide courts with the power to set aside executive and director bonuses and compensation increases where a company with unfunded […]
The political congestion likely to stem from the United States’ midterm election results has equally mixed implications for equity markets, with Democrats taking a majority in the House of Representatives and Republicans making further gains in their majority in the Senate. “A split Congress may bring gridlock, but the stock market has historically fared well with divided […]
Tension between pension adequacy and sustainability is growing across the world, according to the annual Melbourne Mercer Global Pension Index. The Netherlands and Denmark have the best global pension systems, with scores of 80.3 and 80.2, respectively, and both achieving A grades. They scored highly on adequacy and sustainability, while other European countries, such as Austria, […]
As Canada enters a new era of legalized recreational cannabis, the Canadian Federation of Independent Business is offering tools and educational materials for employers and employees. “Governments had the opportunity to create a clear, modern system for cannabis,” said Dan Kelly, president of the Canadian Federation of Independent Business, in a press release. “Unfortunately, the process […]
Marijuana. Cannabis. Pot. Weed. Bud. Grass. Reefer. Kush. Mary Jane. Ganja. Doobie. Trees. No matter what you call it, marijuana is dominating the Canadian news cycle in 2018. And I think it’s about time. At Benefits Canada, it’s cropping up in every area we cover, including how employers can add medical marijuana coverage into their […]
Employer and labour groups say the Trudeau Liberals aren’t planning to roll out any new workplace impairment rules for federally-regulated workers once cannabis is legalized next week. Employers on the federally-struck committee wanted new labour code rules to provide detailed guidance to businesses on their and their employees’ responsibilities after legalization. A joint employer-worker group […]
The Canadian Life and Health Insurance Association’s compensation disclosure guideline doesn’t adequately provide for transparency, according to a letter submitted by the Benefits Alliance Group Inc. “The quasi regulatory role assumed by such a powerful trade association is littered with serious conflicts of interest,” the letter read. It noted these’s an imbalance between the natural goals […]
British Columbia’s Court of Appeal has upheld an award of five months’ notice for an employee with only 12 months of service who was terminated without cause. “The case is an important reminder to employers that notice obligations on termination can be significant even for short-term employees,” says David McInnes, an employment and labour lawyer […]
Canada rose two spots to No. 9 among 43 countries in Natixis Investment Managers’ 2018 global retirement index. The modest rise in Canada’s ranking is attributed to improving economic conditions and environmental factors, according to the report, which also points to several factors — low interest rates, growing levels of public debt, aging populations and […]