Wealthy Canadians can expect their disposable income to decline significantly after retirement while lower-income retirees will notice less of a difference, according to a new study by Statistics Canada. Using data from Statistics Canada’s Longitudinal Administrative Data base, the study— titled Income Security and Stability During Retirement in Canada—aimed to determine the extent to which […]
Prime Minister Stephen Harper explained his government’s strategy for economic policy Friday in a speech to the Economic Club of Toronto. He outlined the Conservatives’ past two years in office, saying that roughly half the fiscal allocations between 2006 and 2010 have gone to tax reduction, with the remainder going to new spending and paying […]
The 2008 federal budget provided some clarifications to the medical expense tax credit (METC) provisions regarding the eligibility of drugs and medications, says a note from Green Shield Canada. Prior to the new budget, drugs and medications qualified for the METC if they were prescribed by a medical practitioner and recorded by a pharmacist, with […]
Socially responsible investing (SRI) is not only gaining in popularity in the United States, but is growing at a faster pace than the broader universe of all investment assets under professional management, according to a report. The Social Investment Forum’s 2007 U.S. Report on Socially Responsible Investing finds that almost 11% of assets under professional […]
The funded status of the typical U.S. pension plan declined 0.7 percentage points due to falling stock markets, according to BNY Mellon Asset Management. The assets of the typical moderate risk pension plan benchmark portfolio declined 1.4%, more than offsetting a 0.7% decrease in the average pension plan’s liabilities. Year-to-date, the funded status of the […]
Eleven percent of CFOs plan to hire extra accounting and financial staff in the second quarter of 2008, while 4% plan to reduce personnel numbers and 72% of executives have no changes planned, according to the Robert Half International Hiring Index. Of the CFOs who plan to hire more staff, 73% cited business growth as […]
Workplace diversity is nothing new to Canadian companies, but a unique phenomenon is occurring in today’s workplace as four generations of employees attempt to work together as a team. In many companies the situation is forcing a complete re-think of standards and procedures, including company-sponsored benefits. Speaking at Tuesday’s Workopolis Powerbreakfast, Giselle Kovary, managing partner […]
A new survey by Hewitt Associates suggests that companies are becoming more active in managing their retirement plans and are gradually shifting risk from employer to employee. The survey found that changes to the retirement landscape such as new legislation and tighter reporting and funding rules have prompted companies attempt to reduce retirement plan risk […]
“I love my job,” is not an often heard phrase, but the common perceptions of workplace misery and dissatisfied employees are facing a fresh challenge from the results of an international survey on workers’ attitudes. Polling 90,000 workers in 18 countries, the survey was conducted by Towers Perrin and focused on what drives employees to […]
A new study finds that institutional investors and corporate directors are at odds on the future of the American executive pay model, but agree that the current system has hurt corporate America’s image. Conducted by Watson Wyatt Worldwide, the study finds that 63% of directors feel the system is improving, compared to only 36% of […]