The C.D. Howe Institute has formed a blue-ribbon advisory panel to help address key challenges facing Canadian pension plans. The panel will advise on a three-year pension program at the Institute, covering such issues as funding shortfalls, regulatory changes, and shifts toward money-purchase arrangements that cause many Canadians to worry about the security of their […]
About nine out of 10 Canadian workplaces employ up to four generations of workers, which could create challenges for employers. The survey of 1,263 Canadians by Monster.ca found that nearly half of them who work in a multi-generation environment admit to experiencing a clash with older or younger workers. “With a multi-generational workforce, employers must […]
The Hospitals of Ontario Pension Plan, OPTrust and CanWest Global have partnered with Cerberus in the battle to take BCE private, according to a newspaper report. Reuters has confirmed that HOOPP is indeed part of the bidding group. The Globe and Mail also reports that the telecom company’s financial advisor, Goldman Sachs, has approached billionaire […]
Shareholders of Bank of New York and Mellon Financial have overwhelmingly approved the proposed merger of the two companies. The deal, which was announced in December, remains on schedule for an expected closing early in the third quarter of 2007, subject to receipt of regulatory approvals. The new company, which will be called The Bank […]
A survey conducted by Benefits Canada found that 69% of 30-year-olds would rather have one extra week of vacation time than one week of extra pay. We surveyed 500 30-year-olds across the country to get their opinions on work life, retirement, pensions and benefits. These fascinating results will be published in the 30th anniversary issue […]
The CPP Fund ended the fiscal 2007 year at $116.6 billion, an increase of $18.6 billion from $98 billion at the close of the previous year. Of the $18.6 billion growth, a 12.9% investment rate of return for the year contributed $13.1 billion in investment earnings, while inflows of CPP contributions not needed to pay […]
Accounting, regulatory, and market forces will lead to 50% to 75% of all private-sector defined benefit assets in the United States to be frozen or terminated over the next five years, according to a report by McKinsey & Company. The report, entitled The Coming Shakeout in the Defined Benefit Market, says the Pension Protection Act’s […]
Cerberus Capital Management has officially entered the race to take BCE private. A consortium which includes the private equity firm and a group of unnamed Canadian investors has signed non-disclosure and standstill agreements with the telecom company on a non-exclusive basis, says a statement from BCE. It’s the second official bid for BCE, which entered […]
Institutional investors are less confident this month than they were in April, according to State Street. The State Street Investor Confidence Index fell to 91.2 from last month’s revised reading of 93.0. “This month saw a slight see-saw in flows,” says State Street Associates director Paul O’Connell, “as institutional investors evinced caution in the early […]
Manulife has unveiled new group insurance to offer lump-sum benefits to plan members and their families diagnosed with a critical illness. “For employers, offering critical illness insurance as part of a comprehensive and competitive group benefits plan also can help attract and retain employees, support employee health plus inspire loyalty in the workplace,” says Rick […]