Three-quarters (76 per cent) of U.S. defined contribution pension plan sponsors say their plan offers automatic enrolment, according to a new survey by investment consulting firm Callan. The survey, which polled roughly 100 DC plan sponsors, found the vast majority used auto-enrolment for new hires, while far fewer offered this feature for current employees. Half […]
The real estate arm of the Ontario Municipal Employees’ Retirement System is acquiring a pharmaceutical manufacturing facility in Raleigh, NC. The Oxford Properties Group is purchasing the 30,000 square-metre facility that’s located beside a five-building office and life sciences campus it owns. According to a press release, the pension fund could expand the facility to […]
The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The government said it would entrust the administration of a new federal investment fund to the Public Sector Pension Investment Board. “By partnering with PSP Investments, the Canada Growth Fund will […]
Manitoba and Newfoundland and Labrador are signing the 2020 agreement respecting multi-jurisdictional pension plans, effective July 1, 2023. The agreement, which was introduced in June 2020 and replaced the 2016 version, was initially signed by the federal government and the provincial governments of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick and Nova Scotia. Once adopted by all […]
Over the last year, the number of large Canadian pension funds with commitments to achieving net-zero emissions by 2050 rose from two funds to nine, representing $1.8 trillion — or 81 per cent — of total pension fund assets evaluated, according to a new report by Corporate Knights. The report also found four of the […]
Nearly three-quarters (73 per cent) of U.S. employees who are caregivers for dependants with mental-health challenges wish their employers would offer more mental-health benefits, according to a new survey by the New York Life Insurance Co. The survey, which polled 1,000 employees, found mental-health benefits play a key role in employee satisfaction. The vast majority of […]
Nearly half (46 per cent) of Canadian employees say they’re very happy with their current role and responsibilities at work, according to a new survey by Maru Public Opinion and ADP Canada. The survey, which polled more than 1,200 employees, found the national work happiness score for March is 6.7 out of 10. Workers in Quebec […]
The Canada Pension Plan Investment Board is entering a joint venture focused on providing services to support Brazil’s transition away from fossil fuel reliance. Alongside Votorantim Group, the CPPIB is launching Floen, which will support the scaling of innovative technologies and business models with the potential to accelerate the energy transition, according to a press […]
The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains. The company will now match all regular employees’ contributions to the group registered retirement savings plan to a maximum of four per cent of their basic annual earnings. The agreement also […]
The Public Sector Pension Investment Board is updating its proxy voting guidelines to communicate its views on sound corporate governance practices and climate change. According to the guidelines, boards of directors at the companies in which PSP Investments invests, are expected to ensure climate risks and opportunities are integrated into their strategy and operations. They […]