The board of Auckland International Airport Limited (AIAL) is recommending its shareholders reject a partial takeover offer from the Canada Pension Plan Investment Board (CPPIB). “We do not believe the offer fully reflects the value of Auckland Airport,” says the company’s chairman, Tony Frankham. “Nor do we not believe the introduction of CPPIB as a […]
The Alberta/British Columbia Joint Expert Panel on Pension Standards is inviting written submissions on how best to ensure pension plans continue to benefit workers, employers and investors in the two provinces. The deadline for submissions is Feb. 29, 2008. The panel will conduct a full and independent public review of private sector pension standards in […]
Despite their profound impact on workplace productivity and business performance, mental health issues and increasing stress levels are not being addressed by Canadian employers, according to a report. Watson Wyatt’s 2007 Staying@Work Canada report found that mental health issues are the leading cause of both long- and short-term disability claims(72% and 82%, respectively). In spite […]
Sun Life Financial has agreed to sell its 401(k)plan administration business in the United States to The Hartford Financial Services Group for an undisclosed amount. The division, Sun Life Retirement Services Inc.(RSI), provides administration services to bundled and unbundled defined contribution plans, serving approximately 6,000 retirement plan sponsors and 465,000 retirement plan participants in the […]
The Pension Investment Association of Canada(PIAC)is calling for amendments to Bill C-10 which is now before the Senate Banking, Trade and Commerce Committee. “PIAC strongly recommends that Bill C-10 be amended so that the Non-Resident Trust(NRT)regime would not apply to registered pension funds,” says a statement from the organization. “There is no sound policy rationale […]
The value of the retirement savings of 4.6 million Canadian workers with employer-sponsored pension plans continued to increase in the second quarter of this year, says Statistics Canada. The market value of trusteed pension fund assets rose to $950.3 billion, up 1.5% from the first quarter—the fourth consecutive quarterly improvement. Assets in foreign holdings have […]
Industrial Alliance Insurance and Financial Services Inc. has launched a new financial planning tool for members of its group retirement savings plans. The Your Retirement Tracker tool breaks new ground because it gives members a simple and clear analysis of their financial situation for the amounts accumulated with Industrial Alliance in their group retirement plan, […]
Manulife Financial Group Benefits has launched a new service to help group plan members and their dependants access health information to cope with a critical, chronic or occasional health event. The service, called Health Service Navigator, provides a wide range of the latest healthcare information and resources and, where appropriate, it enables users to gain […]
The Ontario Teachers’ Pension Plan Board(OTPP)has announced that a US$138 million cash settlement agreement has been reached in the securities fraud class action against Biovail and certain of its officers. The plan, with co-lead plaintiff Local 282 Welfare Trust Fund, led the prosecution of this litigation on behalf of a class of investors who purchased […]
The Standard Life Assurance Company of Canada has launched the Retirement checkup, a retirement projection tool designed to engage group plan members in taking action in their retirement plans. The new tool is an integral part of the Plan for life program the company launched in April 2007. The Retirement checkup provides members with an […]