Canadians love their health benefits and want to hold on to them. According to the 2007 sanofi-aventis Healthcare Survey, 61% of the health benefit plan members surveyed said they’d choose their plan over $20,000 in cash. Although 95% realize their plans cost their employers a much smaller amount, they are aware that their health costs […]
Today, benefits and pension programs are in a state of flux, and compliance and risk management are becoming higher profile. That said, insurers have to be prepared, said Karen Christie, assistant vice-president, compliance and risk management, group retirement services, Sun Life Financial, speaking at the LOMA Canada conference in Toronto. With changes to the CAP […]
Today’s 30-year-olds value their health benefit plans now—and in the future. A majority of today’s 30-year-olds may live in the moment, but they’re looking to the future. With mounting drug and dental costs, the questionable sustainability of Canada’s healthcare system and media coverage of yet another large organization slashing its postretirement benefits, these savvy Canadians […]
A Deloitte Touche Tohmatsu and Economist Intelligence Unit study of 500-plus HR and non-HR executives – in which 5% were Canadian – revealed that more than 85% of those surveyed believe people are important to all aspects of organizational performance. Although senior executives see “people issues” as important, they’re not sure HR can step up […]
According to a PricewaterhouseCoopers survey of 150 investment management executives, just under one third of investment management companies will increase outsourcing of their administrative and back-office functions over the next two years. Sixty-two per cent of executives said they’ll likely maintain their current outsourcing levels. The remaining 7% plan to bring their outsourced accounting, financial […]
The Bank of Canada may increase interest rates in order to keep inflation at bay. The Bank of Canada indicated that both economic growth and inflation in Canada were stronger than expected. Core inflation reached a high of 2.5% in April, and the Canadian economy was probably a percentage point higher than projected for Q1. […]
With an ageing workforce and the rising costs of healthcare, is the possibility of a prefunded healthcare benefit a viable one? As of March, Bell Canada was the latest to target its postretirement benefits. Starting Jan. 1, 2012, the telecommunications company will eliminate most benefits for retirees over age 55. And it will eliminate all […]
Corporate wellness programs, which can include fitness and nutritional coaching, gym memberships and professional growth opportunities, can only augment employees’ overall health and well-being. Unfortunately, only 20% of Canadian employees enjoy these programs, according to a new online survey by Monster.ca. Of the 2,800+ surveyed, only 10% said wellness programs were a waste of time. […]
According to U.S. statistics, in the event of a disaster, 80% of businesses without a business continuity plan(BCP)would shut down within a year, and 43% would never recover. A BCP is part of doing business, said Thomas Frank, director, risk management, BMO Financial Group, one of six speakers in a roundtable discussion at the Velma […]
The administrator of a pension plan can be the employer, a pension committee or a board of trustees, said Paul Dimitriadis, a lawyer with Blake, Cassels & Graydon, speaking at the Dominion Club in Toronto today. But no matter who the administrator is, the role of the administrator carries with it a large number of […]