After several months of negotiations between Nova Scotia’s East Coast Credit Union and Unifor, 44 employees have voted in favour of strike action over the proposed closure of their defined benefit plan. The credit union is proposing to close the pension to new entrants and then wind it up over 10 years, according to president and chief executive officer Ken […]
Facing a $10.3-million pension deficit in 2016, the Youth Services Bureau of Ottawa had some tough decisions to make. It felt that closing its defined benefit plan, converting to a defined contribution arrangement or cutting benefits were all out of the question. But with the Ontario government having enacted regulations in 2015 to permit the […]
With summer underway, Software company Kinaxis Inc. used a barbecue event last week as a way to introduce its growing human resources team to employees and explain the services they offer. As the Ottawa-based company has grown, its human resources and facilities team has expanded as well, to 14 people today from four members about three years ago. […]
After nearly two months of strike action, Compass Minerals International Inc. and hourly workers at its mine in Goderich, Ont., remain at a stalemate in contract negotiations over proposed cuts to employees’ pensions. The latest contract offering from the company includes the removal of the deferred profit-sharing portion of the plan along with the elimination of its early retirement […]
CGI Group Inc. hosted its annual mental-health month in May, focusing this year on the support that employees can receive from their employer and their colleagues, as well as how to build a support network. Although the global information technology company has been running its wellness program since 2004, it began to address mental health in the […]
The Canadian Life and Health Insurance Association is tweaking its approach to its compensation disclosure guideline, including a provision to allow advisors to deliver the information to clients. After releasing the guideline in January, the CLHIA announced in February that it would be seeking feedback on a number of areas related to the guideline. While the […]
Three years after Wabush Mines filed for restructuring, its former employees and retirees will see an increase to their pensions, following a previous reduction of between 21 and 25 per cent, as a result of a proposed settlement in the matter. While the amounts won’t be public until the court overseeing the company’s insolvency approves a settlement in principle, […]
There has been a lot of talk about variable benefits from defined contribution pension plans recently. Ontario has changes in the works to allow them, while a number of provinces have moved on the issue in recent years. And while it’s not yet common for plan sponsors to offer variable benefits, some organizations have had the […]
When it comes to the difficult issue of equity in pension plans, Quebec has been at the forefront recently with its plan to table a bill to eliminate so-called disparity clauses. The province’s plan, which has significant union support, has drawn the attention of Quebec’s pension industry, particularly since it would affect organizations that have […]
The SickKids Foundation, a Toronto-based charity, is encouraging its employees to skip the elevator and use the stairs, beginning with a wellness challenge piloting the Carrot Rewards’ mobile app. Earlier this year, the organization opened new meeting space on the eighth floor of its office location. Previously, the foundation had only been on the 12th, 13th and […]