Since the frightening days of September 2008, those workers lucky enough to have held on to their jobs have mostly been a docile lot, quietly enduring the increased workloads and longer hours in an effort to avoid the next round of pink slips. However, as the global economy slowly improves, so do the expectations of […]
The Ontario legislature passed Bill 16, Creating the Foundation for Jobs and Growth Act, 2010 , on Tuesday, banning professional allowances (generic rebates) to pharmacies. In the meantime, the McGuinty government is treading carefully with regard to further changes. According to Ministry of Health and Long-Term Care press secretary Ivan Langrish, the government is extending […]
The current wave of prescription drug reform across Canada could result in a range of benefits for plan sponsors, but the process is still in its infancy and the outcome is far from clear. According to a panel of experts, organizations that are proactive and ready to cut a deal will fare much better than […]
Towers Watson has announced a new drug plan management outsourcing service to organizations, aimed at ensuring long-term sustainability in the face of rising costs. Essentially a three-way agreement between Towers Watson, participating employers, and Green Shield, the Canadian Rx Coalition offers drug plan sponsors a range of options in managing pharmacy costs, such as collaborative […]
The Ontario Teachers’ Pension Plan president and CEO says the federal government is out to lunch when it comes to the rules governing pension plan investment laws. Speaking to an audience on Wednesday in Toronto, Jim Leech explained that while the Ontario government included amendments to the 30% maximum ownership rule for pension plans in […]
The failure of pension plan legislation and design to keep up with the times is hurting the ability of Canadians to prepare for retirement, according to the president and CEO of the Ontario Teachers’ Pension Plan. Jim Leech told a Toronto audience on Wednesday that the current state of Canada’s retirement system is markedly different […]
Toronto’s Sheraton Center was the venue on Tuesday for a global overview of alternative asset management from the perspective of one of the world’s largest private equity managers. Stephen Schwarzman, chairman and co-founder of the Blackstone Group presented his perspective of investment opportunities in his address, “Prospects for Global Economic Recovery”. Asia—which he described as […]
Provincial health ministers appear to be circling the wagons in the fight for lower drug prices, according the Globe and Mail. In a letter last week to her provincial colleagues, Ontario Health Minister Deb Matthews warned about the possibility that pharmacy chains could make bulk purchases in the province with the lowest price and sell […]
Federal Finance Minister Jim Flaherty has proposed changes to the rules that limit investment options for private pension plans and funding provisions defined benefit plans. The proposals are part of a comprehensive package of reforms that were announced last October and will affect pension plans registered under the Pension Benefits Standards Act, 1985 (PBSA) with […]
The Investment Funds Institute of Canada (IFIC) is urging the federal government to consider the full spectrum of retirement assets in its efforts toward reform of the retirement industry, including those in the “fourth pillar” of non-registered vehicles. IFIC’s submission to the Department of Finance Canada identifies a significant component of household financial assets—referred to […]