The gender wage gap in Canada continues to persist, with women earning 23 per cent less in total income than men in 2020, according to a report by ADP Canada Co. Surveyed Canadian working men were significantly more likely to make more than $80,000 in pre-tax salary, while working women were more likely to make between […]
The Colleges of Applied Arts and Technology’s pension plan is currently 119-per cent funded on a going-concern basis with a funding reserve of $3.3 billion, based on its latest actuarial valuation as of Jan. 1, 2021. That’s up from 2019, when the pension plan was 118-per cent funded on a going-concern basis with a $2.9 […]
Germany-based Munich Re is acquiring Canada’s Group Health Group Holdings Inc. Munich Re New Ventures Inc., which previously held a 40 per cent stake in GroupHEALTH, will now own 100 per cent of the company. Matt Houghton, chief executive officer of GroupHEALTH, will continue to lead the company with his executive team, according to a […]
The Ontario Teachers’ Pension Plan is acquiring a 40 per cent stake in Caruna, Finland’s largest electricity supplier. The pension will acquire a 20 per cent stake in the utility from First Sentier Investors and in a separate transaction, the Ontario Teachers’ and investment firm KKR & Co. Inc. will jointly acquire a 40 per cent holding […]
Canada’s largest pension plans are reporting mixed financial results from a year marked by the coronavirus pandemic. The Caisse de dépôt et placement du Québec reported a 7.7 per cent return on its depositors’ funds in 2020, representing $24.8 billion in investment results. As at Dec. 31, 2020, the Caisse’s net assets totalled $365.5 billion, up […]
Newfoundland and Labrador residents can now unlock benefits held in locked-in retirement savings arrangements for reasons of financial hardship or non-residency in Canada. The changes are in effect as of March 1 and only affect locked-in retirement savings arrangements such as locked-in retirement accounts, life income funds and locked-in retirement income funds, according to a press […]
Canadian pension funds are seeing significant cost savings from in-house asset management but are still relying on external managers, according to a new survey from CIBC Mellon. It found among funds that have taken asset management in-house, 66 per cent said they achieved savings. Of those, 91 per cent reported more than 10 per cent […]
The Ontario Teachers’ Pension Plan is acquiring The Carlyle Group’s majority stake in Logoplaste, a Portugal-based rigid plastic packaging designer and manufacturer of items. Logoplaste’s products are used by a wide range of global blue-chip clients and its business model centres on the development of strong and long-standing partnerships with customers through dedicated facilities, fully […]
The Canadian Life and Health Insurance Association is calling on the federal government to provide Canadians with access to more-secure retirement income. In its submission to the 2021 federal budget, the CLHIA recommended that Canadians in and approaching retirement have access to flexible annuity options within registered pensions, registered retirement savings plans, registered retirement income […]
Canada Life Assurance Co. is introducing a new health-coaching program, led by Shoppers Drug Mart Inc.’s Health Solutions team, to help Canadians prevent and manage chronic conditions. The new program will be delivered remotely by pharmacists, nurses and dietitians, allowing for employers to continue to support their employees during the coronavirus pandemic, noted a press […]