British Columbia’s defined benefit pension plans continue to face funding challenges as solvency deficits mount, according to a report released last week by the Financial Institutions Commission of British Columbia. In its report, the regulator reviewed 196 defined benefit plans in the province and found that, as of Dec. 31, 2015, the estimated combined solvency […]
The Ontario Teachers’ Pension Plan Board has lost its appeal of a decision ordering it to pay more than $1 million to a former senior investment employee. The 2015 Superior Court ruling in Lin v. OTPPB ordered the Teachers’ pension plan to compensate former employee David Lin $1,002,905 in damages, the majority comprising bonuses under the company’s short- and long-term […]
While positive reinforcement in the form of bonuses, pay raises and awards is a common human resource tool, does it work when it comes to addressing absenteeism? While some companies have given performance awards to people who rarely called in sick, Julie Holden, a senior vice-president at SEB Benefits & HR Consulting, suggests it’s an […]
Canadian pension funds seem to have fared well despite the short-term market volatility that ensued following Britain’s vote to leave the European Union, but a CFA Institute survey shows many investment professionals expect uncertainty to continue. A survey of more than 2,000 global investment professionals found that a majority expect Britain’s exit from the European […]
Employers can still do more to include and support lesbian and gay employees in the workplace, according to a new study commissioned by Telus. The survey of 814 Canadians (half of whom identified as lesbian, gay, bisexual, transgender or queer) reveals that about one-third of respondents don’t find their workplace safe and inclusive for lesbian and gay […]
About 70 administrative employees at the B.C. Nurses’ Union went on strike Friday after their employer locked them out for an hour. While there are disagreements about wages and post-retirement benefits, the main dispute between the two groups centers on how employees use their sick day benefits, according to both parties. “Members want to use their sick […]
Canada ranks 10th in a list of countries that provide the best retirement security, according to the latest global retirement index published today by Natixis Global Asset Management. Canada fell just below several northern European countries, including Norway (No. 1), followed by Switzerland, Iceland, Sweden, Germany, the Netherlands and Austria, as well as New Zealand […]
The expanded Canadian Pension Plan will bring only a slightly higher rate of return for retirees — 2.5 per cent in the expanded plan compared to 2.1 per cent in the current plan, according to a new report by the Fraser Institute. The report assumes employees will retire at the age of 65 and looked […]
As young Canadians fan out across workplaces this summer to get experience as interns, employers would do well to take stock of the myriad of employment laws and regulations governing internships. Not being careful around the rules can result in future legal headaches, says Daniel Chodos, a partner at Whitten & Lublin in Toronto. “Employers are taking […]
The growth in life expectancy for beneficiaries of Canada’s old age security program declined slightly in recent years in comparison to the rates of the previous decade, according to a recent study by Canada’s chief actuary. From 2010-13, the growth in life expectancy was 1.6 months per year. That compares to two months per year from […]