The percentage of Canadians participating in an employer-sponsored pension plan continues to rise, with roughly 6.6 million plan members in 2020, up 57,000 from 2019, according to a new report from Statistics Canada. It found more than 4.4 million Canadians were covered by a defined benefit pension plan in 2020, up 1.7 per cent from 2019, noting the majority (72 […]
The European Central Bank is expected to raise interest rates for the first time since 2011. In a statement, the bank said it plans to raise interest rates by 25 points on July 21, from negative 0.5 per cent to negative 0.25 per cent. The decision comes in response to inflationary pressures, which hit 8.1 […]
The Alberta Investment Management Corp. is part of a joint venture acquiring a portfolio of U.K.-based residential apartment assets under construction. In a deal reached with Angelo, Gordon and Co., the joint venture, which also includes Ridgeback Capital Management, will secure five under-construction apartment complex properties. The portfolio includes properties in Birmingham, Cardiff and Sheffield, […]
Cigna is focusing on ‘purposeful presence’ in its return-to-work strategy, amid the ‘Great Resignation’ and employees increasingly choosing roles that align with their values. The strategy stems from the company’s core belief that performance is based on outcomes instead of physical presence, according to a press release, which noted the approach is applied to all […]
Roughly 2,000 Unifor members at eight Ontario casinos have voted to strike if new pension and benefits agreements can’t be negotiated by midnight on July 22. The union is also seeking to increase in the amount of stable jobs by converting part-time or casual positions into full-time jobs, according to a press release. Read: Pensions, retirement security […]
The union representing 60 employees at the Hilton Garden Inn in Ajax, Ont. has ratified a three-year agreement that includes retirement and benefits gains. The agreement establishes a new group retirement program and adds a fifth week of vacation for members upon reaching 20 years of service. It also includes increases in dental and vision coverage […]
A quarter (26 per cent) of U.S. employers are considering expanding the abortion services they cover, according to a new pulse survey by the International Foundation of Employee Benefit Plans. Almost half (46 per cent) of respondents said they aren’t making any changes to coverage levels, while 26 per cent don’t know or are waiting […]
The percentage of employees working exclusively from home is decreasing slightly — from 19 per cent in May to 18 per cent in June — amid the lifting of coronavirus pandemic restrictions, according to a new survey by Statistics Canada. Among these employees, it found a fifth (18 per cent) said they report to an […]
In the first quarter of 2022, new annual premiums for supplemental health insurance products totalled $1.1 billion in the U.S., a six per cent increase from the same period last year, according to LIMRA’s latest workplace benefits sales surveys. Most workplace supplemental health insurance product lines ― accident, critical illness, cancer and hospital indemnity insurance ― […]
The Caisse de dépôt et placement du Québec is increasing its stake in an Indian power company. In an agreement reached with CLP Power India Private Ltd., the organization will increase its stake in Apraava Energy Ltd. by 10 per cent for a full 50 per cent investment in the building. Founded in 2002, the […]