A report finds that Generation Y employees are the least engaged in the workplace on four continents, including North America. The State of Employee Engagement 2008 report by Princeton, N.J.-based consulting firm BlessingWhite finds that one quarter of generation Y employees on this continent are disengaged compared to 20% of gen Xers and 17% of […]
An Ottawa-based law firm has commenced a national class action lawsuit on behalf of Nortel employees across Canada regarding changes made to the telecom equipment company’s pension plan. The suit, filed by Nelligan O’Brien Payne, claims that Nortel failed to provide employees with reasonable notice of the changes. In June 2006, Nortel announced that it […]
Mental health is a growing concern for employers and nearly 80% of them say that mental health issues have increased in importance compared with three to five years ago, according to a survey. The survey, conducted by Mercer in conjunction with The Canadian Alliance on Mental Illness and Mental Health (CAMIMH), finds that respondents—about 85% […]
After a modest gain in 2005, membership in employer registered pension plans (RPPs) resumed normal growth in 2006 due entirely to increases among women, according to Statistics Canada. The country’s 18,594 employer-sponsored RPPs added 77,700 new members, representing a growth of 1.4%. This took total membership to 5.8 million in 2006. Membership rose by about […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | A declining stock market and higher-than-expected inflation pushed pensions at U.K. companies back into the red in June, according to Watson Wyatt. At the end of May, FTSE100 companies’ pension funds had an aggregate surplus of £23 billion (C$46.5 billion) under […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | The defined contribution market in the United States will likely double by 2015 and assets under management will reach between US$7.5 trillion to $8.5 trillion—three times larger than the market for private defined benefit pensions, according to a report by McKinsey […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | The Supreme Court of Canada has overturned a $100,000 punitive damages award given to a former employee of Honda Canada. Kevin Keays, who suffered from chronic fatigue syndrome, sued the automaker, alleging that he was wrongfully dismissed. He was originally awarded […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | A group representing chief investment officers of major private retirement plans in the United States is concerned about proposals restricting pension investments in commodities. Testifying before the Senate Homeland Security and Governmental Affairs Committee on Tuesday, William Quinn, chair of the […]
An Ottawa-based law firm has commenced a national class action lawsuit on behalf of Nortel employees across the country regarding changes made to the telecom company equipment’s pension plan. The suit, filed by Nelligan O’Brien Payne, claims that Nortel failed to provide employees reasonable notice of changes to the plan. In June of 2006, Nortel […]
The consortium led by the Ontario Teachers’ Pension Plan now expects to complete the privatization of BCE sometime in the third quarter. It had expected to finish the deal before the end of June, but there was a delay because of legal challenges by bondholders who claimed the deal was unfair to them. On Friday, […]