retiree benefits – Benefits Canada.com

Bristol-Myers Squibb sued for US$2BN pension risk transfer deal

bmcgovern — Thu, 12 Sep 2024 15:00:45 +0000

Bristol-Myers Squibb Co. is being targeted in a lawsuit over a US$2 billion pension risk transfer deal completed in 2019 with Athene Annuity and Life Co. The class action lawsuit, filed by former employee Charles Doherty and which names independent consultant State Street Global Advisors Trust Co. as a defendant, argues the pharmaceutical company is […]

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York University, YUFA agreement includes multiple benefits gains

Sadie Janes — Thu, 12 Sep 2024 13:00:11 +0000

The union representing more than 1,600 faculty, librarians, archivists and post-doctoral researchers at York University has ratified a three-year collective agreement that includes multiple benefits gains. The agreement includes an increase in coverage for eyeglasses from $850 to $935 every 24 months, as well as an increase for paramedical services from $3,000 to $3,200. In […]

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What are the issues for savings when mental health becomes a burden in retirement?

bwolfe — Fri, 09 Feb 2024 13:56:03 +0000

Since decreased cognition can impact retirees’ ability to make sound decisions, the Canadian Union of Public Employees urges its members to discuss financial matters with their families long before exiting the workforce. “If we wait until we’re in distress, we either make very bad decisions or we don’t make any decisions at all, which can […]

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Canadian auto workers, GM reach tentative contract agreement, mirroring Ford deal

Jennifer Paterson — Wed, 11 Oct 2023 13:00:56 +0000

General Motors and the union representing Canadian auto workers reached a tentative contract agreement Tuesday, ending a strike that began just after midnight. About 4,300 striking workers at two GM factories and a parts warehouse returned to work Tuesday afternoon and will vote on the three-year deal later. The tentative agreement with GM follows the pattern […]

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Pension super-priority bill passes in House of Commons

lbailey — Mon, 28 Nov 2022 14:00:28 +0000

A bill intended to provide defined benefit pension plan members with super-priority in the event of a plan sponsor’s insolvency passed in the House of Commons last week, furthering division among stakeholders on whether the legislation will cause more harm than good in the long term. The Association of Canadian Pension Management, the Canadian Chamber of […]

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B.C. Municipal Pension Plan’s employee life and health trust joining BCI

Jennifer Paterson — Mon, 14 Mar 2022 13:00:47 +0000

The British Columbia Municipal Pension Plan’s new Municipal Retiree Benefit Trust is joining the B.C. Investment Management Corp. The MRBT, which has $100 million in assets under management, is an employee life and health trust that provides group benefits to the MPP’s retirees and their spouses/dependants. It was recently created following a program review and redesign. […]

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Expert panel: A look at retiree benefits and the current health-care system

mdunne — Tue, 20 Jul 2021 13:00:31 +0000

Many employees may be dreaming of a carefree retirement following many years in the trenches — but they’ll likely have to keep dreaming if they don’t have first-rate, post-retirement health and dental insurance coverage. Many employers provide supplemental health insurance (drug, dental, extended health and out-of-country medical) as part of comprehensive packages of employee benefits, […]

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Vale mine workers in Sudbury striking over cuts to drug coverage, retiree health benefits

lbailey — Fri, 09 Jul 2021 13:00:38 +0000

More than 2,000 workers at a Vale nickel mine in Sudbury, Ont., are continuing their strike after their union, United Steelworkers Local 6500, rejected the company’s five-year contract proposal, which cuts health and medical benefits for existing and future employees. The June 14 offer was Vale’s second since the workers went on strike June 1, […]

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Navacord acquiring Ontario-based benefits firm

mschmit — Mon, 08 Feb 2021 05:00:40 +0000

Navacord Corp. is further expanding its group benefits business by acquiring Penmore Benefits Inc. A division of The Penmore Group, Concord, Ont.-based Penmore Benefits Inc., provides comprehensive benefits and retirement programs, including international benefits, for small- to medium-sized businesses across both private and public sectors. The company will continue to operate independently and maintain its commitment […]

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Plan sponsors, pension plans taking lessons from 2020 to decade ahead

mschmit — Fri, 29 Jan 2021 05:00:11 +0000

Following an unprecedented 2020, Canada’s plan sponsors and pension plans are incorporating the lessons of the last year as they prepare for a new decade, according to a recent webinar hosted by Mercer Canada. The coming years will be marked by developments including increased geopolitical tensions and the lingering economic effects of the coronavirus pandemic, […]

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