Air Canada employees are back to work today after a tentative agreement on pay and pensions was reached yesterday, ending a three-day strike and 12 weeks of negotiations. CAW president Ken Lewenza said the new agreement is an important achievement for the 3,800 CAW members at Air Canada who resisted company demands for major pension […]
The C.D Howe Institute warns those advocating for expanding the CPP to not be fooled by the fund’s good returns and perceived sustainability. The CPP and the Quebec Pension Plan (QPP) are not guaranteed benefits; they are target benefits and need to be treated as such. “Treat the CPP as a DB plan making firm […]
While some organizations are looking to recruit younger employees to compensate for the impending mass retirement of baby boomers, Canadian CEOs are taking a different approach. According to a recent PwC report, 60% of Canadian CEOs plan to increase recruitment and retention efforts of older employees, compared to just 42% of CEOs globally. This is […]
Watch this video Benefits Canada interviewed Emilian Groch, the CEO of the Alberta Teachers’ Retirement Fund Board, at the recent Global Investment Conference, hosted by Canadian Investment Review. Find out what he had to say about his fund’s asset mix and how its portfolio is shifting.
While the budget delivered positive news for the economic growth of Canada (the federal finances are in better shape now than they were when the previous budget document was tabled in March), there was no additional update to the state of pension reform in Canada—which is concerning to some. Working with the pooled registered pension […]
Watch this video What will pooled retirement pension plans mean for employers? Or for employees? Will Canadians voluntarily save more for retirement if the PRPP is introduced? Greg Heise, partner with Morneau Shepell, says that while implementing PRPPs would bring several advantages to both employees and employers, “I don’t think necessarily just the existence of […]
The Speech from the Throne, delivered by new Governor General David Johnston, on June 3, was a missed opportunity to keep earlier promises to improve the Canada Pension Plan and Quebec Pension Plan (CPP/QPP), says Ken Georgetti, president of the Canadian Labour Congress (CLC). “Doing nothing now will cost future taxpayers a lot more down […]
For some employers, getting employees to formulate a financial plan for retirement is much like leading a horse to water. You can’t make employees plan any more than you can make that old horse drink. But if you can understand why employees aren’t considering retirement or acting on the messages you’ve been disseminating, you can […]
Today’s workforce is made up of four different generations—gen X, gen Y, boomers and traditionalists—but that is only one aspect of workforce diversity. Family units have changed drastically over the last several decades and could include any number of scenarios. For plan sponsors, this means the needs of their workforce are changing. But plan sponsors […]
More than 80 human rights applications were filed today against the Ontario Teachers’ Pension Plan Board for denying full survivor pensions to those who marry after they retire. Members of the Ontario Teachers’ Survivor Benefit Group (OTSB Group), a decade-old advocacy group, filed the applications, which indicated that the plan is discriminatory. Also named in […]