Otto von Bismarck, first chancellor of Germany, introduced the world’s first state pension plan in the 1880s. Citizens weren’t eligible to collect benefits until age 70, despite the fact the average life expectancy at the time was around 61. Bob Rae, Liberal MP for Toronto Centre, told this story to delegates at the Conference Board […]
Despite posting a 14.3% rate of return in 2010 and ending the year with $13.3 billion in investment income—the largest “value-add” amount in its history—the Ontario Teachers’ Pension Plan (OTPP) still faces “serious funding challenges” caused by a combination of factors, according to president and CEO Jim Leech. The rate of return was ahead of […]
Incidences of chronic disease in Canada are on the rise, as are mental health issues, and both are impacting the workplace in the form of increasing drug costs, absenteeism and lost productivity. But the good news is that employers are starting to realize the importance of making investments to improve workplace mental health, according to […]
Gary Nachshen, a partner at Stikeman Elliott, passed away suddenly last week while on vacation with his wife and two children in the Turks and Caicos. His dedication to pension and benefits law made Gary a popular and respected voice on the topic amongst his peers in the legal community and with pension and benefits […]
Peter Muldowney has joined Connor, Clark & Lunn Financial Group (CC&L) as senior vice-president, institutional strategy. In this newly created role, Muldowney will report directly to the company’s co-CEO Warren Stoddart, and will focus on helping pension plan sponsors better understand the investment challenges they face and the portfolio management solutions that may be best […]
A federal budget that attempted to balance the government’s determination to eliminate the deficit by 2015 and the need to attract opposition support offered little new for the country’s ongoing pension reform debate. In delivering the budget, Finance Minister Jim Flaherty made mention of the government’s commitment to advancing the planned pooled retirement pension plan […]
If you’re eager to start up a benefits plan for your small business but don’t know where to start, a benefits consultant may be an ideal solution. With connections to service providers across the country and in-depth knowledge of the various products on the market, a good benefits consultant can help develop a plan that […]
Because of the young average employee age at Work at Play, getting buy-in for a benefits plan was a challenge in the years following the company’s 1999 creation, says Mandy Eagles Gratton. Management didn’t want to go to the trouble and expense when interest was lacking. In those early days, the company had just eight […]
Read our 2011 Small Plan Sponsor Report. Telelink, like many other companies, struggled during the recession. The St. John’s, Newfoundland-based inbound customer service business has a long track record of success and stability, having been in operation since 1965. But when the downturn hit in 2008, the company—which counts a large number of U.S. businesses […]
The pooled retirement pension plan (PRPP) announced last year represents a positive first step toward ensuring that all Canadians have sufficient opportunity to save for retirement, according to Christopher Brown, president of the Association of Canadian Pension Management (ACPM). But, he says, this has to be just part of the solution. “Governments are clearly engaged […]