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U.K. pension regulator calling on plan sponsors to support pension scam prevention strategy

The Pension Regulator, the U.K. government body that oversees defined benefit pension plans, is calling on plan sponsors to help advance a three-pronged strategy to fight pension fraud. “Over many years, we have worked to prevent savers’ losses and put fraudsters in prison: running large-scale public awareness campaigns, leading a multi-agency response to the threat […]

  • August 11, 2022 August 11, 2022
  • 12:00

86% of employers using higher salaries to help with attraction, retention efforts: survey

The majority (86 per cent) of North American employers are hiring employees at the higher end of salary ranges to help with attraction and retention, according to a new survey by WTW. The survey, which polled more than 850 employers in Canada and the U.S., found 66 per cent have increased hiring activity since the […]

  • August 11, 2022 August 9, 2022
  • 09:00

24% of Canadians shifting to remote working amid pandemic’s latest wave: report

The percentage of Canadians working from home increased slightly amid a seventh wave of the coronavirus pandemic, according to a report by Statistics Canada. In July, the percentage of workers aged 15 to 69 who worked most of their hours at home edged up 0.4 per cent to 24.2 per cent. Alongside short-term shifts in work location, many […]

  • August 10, 2022 August 9, 2022
  • 15:00

Arconic, Unifor agreement protects workers’ DB pension plan

The union representing more than 200 employees at Arconic Corp. in Lethbridge, Alta. has ratified a four-year collective agreement that protects the defined benefit pension plan currently in place. “Local 99 members showed great commitment to fairness in the face of [threats to] their pension plan,” said Justin Araki, Local 99 president, in a press […]

  • August 10, 2022 August 9, 2022
  • 09:00

Ontario Teachers’ entering agreement with mining company, Caisse selling stake in Indian real estate developer

The Ontario Teachers’ Pension Plan is entering a non-binding agreement with a Canadian company seeking to develop copper mines in Saskatchewan. In a deal reached with Foran Mining Corp., the pension fund will invest $200 million in the company’s McIlvenna Bay project. Following the announcement of the agreement, Foran’s stock rose 15.4 per cent. Read: […]

  • August 9, 2022 August 9, 2022
  • 12:00

Canadian DB pension plan assets rose 5.4 per cent in July: report

The value of a typical Canadian defined benefit pension plan’s assets improved in July, according to LifeWorks Inc.’s latest monthly report. An investment portfolio designed to mimic typical Canadian DB portfolios saw its assets grow by 5.4 per cent over the month. The value of the benchmark portfolio, which is composed of 50 per cent […]

  • August 9, 2022 August 9, 2022
  • 12:00

Canadian employers increasing salaries, offering remote work to attract talent: survey

With nine in 10 (89 per cent) employers finding it challenging to find skilled professionals, companies are using a range of recruiting tactics to win over skilled workers, according to a new survey by Robert Half Canada Inc. The survey, which polled more than 500 employers, found the most commonly used attraction strategies were increasing salaries […]

  • August 9, 2022 August 9, 2022
  • 09:00

Alcoa entering $1BN annuity transfer for U.S. DB pensions

Alcoa Corp. is de-risking roughly US$1 billion in U.S. defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be executed by two subsidiaries of Athene Holding Ltd., which will assume payments for roughly 4,400 participants in November, according to a press release. Read: Looking under the hood of jumbo […]

  • August 8, 2022 August 8, 2022
  • 15:00

Amazon expanding employee benefits program with free skills training, career coaching programs

Amazon.com Inc. is expanding its employee benefits program with free career coaching, college advisement and other specialized career services. The new offerings will provide employees with virtual one-on-one coaching to help them identify the academic programs that best fit their skills and long-term goals, as well as continuous support throughout their higher education experience, according […]

  • August 8, 2022 August 8, 2022
  • 09:00

U.S. bill could deny gig workers minimum wage and other protections

A bill that would amend U.S. labour law to establish a new classification for gig workers could also deny them the right to a minimum wage and other employment protections. The Worker Flexibility and Choice Act would change the Fair Labor Standards Act so ’employee’ doesn’t include anyone who’s entered into a worker-flexibility agreement, such […]

  • August 5, 2022 August 7, 2022
  • 15:00