Investors were already feeling the pressures of historically low interest rates. Then came the coronavirus pandemic. The Bank of Canada cut its overnight interest rate at the end of March to an all-time low of 0.25 per cent and announced a plan to spend $5 billion per week on Government of Canada bonds. This came […]
While 72 per cent of Canadian employers said they’ll make minimal or no changes to their benefits coverage in 2021, 21 per cent are planning some plan design changes around health coverage, according to a new survey by Arther J. Gallagher & Co. Eight per cent said they’re looking at plan design and contribution structure […]
The City of Toronto has launched a social debenture framework to fund investments in affordable housing, transit and other basic infrastructure, access to essential services and other projects that benefit marginalized and vulnerable Torontonians. The city, which is waiting for more favourable market conditions to issue its first social bond, is the first municipality in […]
With many Canadians dealing with financial stress, employers are uniquely positioned to help, but their financial wellness programs must go beyond just literacy. “[Everyone] has heard the term financial literacy, but as we know, it’s not enough,” said Saijal Patel, founder and chief executive officer of Saij Wealth Consulting Inc., during a Canadian Pension and Benefits Institute webinar earlier […]
A group of more than 80 global investment managers with a combined $10 trillion in assets under management is calling on Alphabet Inc. to implement board-level oversight for human rights risks. The Investor Alliance for Human Rights, which includes co-filers Hermes Investment Management, Loring, Wolcott and Coolidge, Robeco and Canadian responsible investing firm NEI Investments, […]
The Municipal Property Assessment Corp. is hosting a series of virtual leader chats to help its employees manage the mental-health challenges of the coronavirus pandemic and to answer their pressing questions. The live chats, which were held three times a week beginning mid-March and moved to twice a week after the Victoria Day long weekend, […]
The Ontario government is giving health-care providers, including dentists, massage therapists, optometrists and psychologists, the green light to gradually reopen their practices. The order from the province’s chief medical officer of health also included chiropractors, physiotherapists, dieticians, naturopaths and acupuncturists. However, it stipulated that the approved health-care providers can only reopen if their regulatory colleges allow them to do so […]
The union representing more than 200,000 Canadian public sector employees says the Public Sector Pension Investment Board’s investment in a for-profit, long-term care provider is inconsistent with its fiduciary and legal obligations to plan members. The Public Service Alliance of Canada is calling on the PSP to end its investment in Revera Inc., its wholly […]
Employers with registered supplemental unemployment benefit plans aren’t able to use them to top up laid-off employees who are receiving the Canada Emergency Response Benefit. In an online question and answer session on the CERB, the federal government confirmed that due to the “simplified design” of the benefit, the provisions existing under the employment insurance […]
The leader of the Saskatchewan New Democratic Party is calling on the provincial government to implement binding arbitration to end the months-long lockout and pension dispute between Federated Co-operatives Ltd. and its refinery workers. “This lockout has gone on far too long. The premier needs to show leadership and bring it to an end,” said Ryan Meili, […]