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 […]
An article on how British Columbia’s incoming pay transparency legislation could impact employers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How B.C.’s pay transparency legislation could impact employers 2. Report finds new diabetes, migraine treatments could impact private drug plans in 2023 3. CPPIB […]
A resolution to reverse a rule allowing U.S. pension investors to consider environmental, social and governance criteria has been blocked by President Joe Biden. “It would put at risk the retirement savings of people across the country,” the president said after issuing his first-ever veto. Through the office’s veto power, a president may block any […]
The Pension Investment Association of Canada is praising the Canadian Association of Pension Supervisory Authorities for addressing the regulatory inconsistencies facing Canada’s defined contribution pension plan sponsors in its draft strategic plan for 2023-2026. “We commend CAPSA for its achievements in engaging with stakeholders to consider evolving regulatory risks and [capital accumulation plan] guideline development,” […]
The median 401(k) account balance for women is 65 per cent lower compared to men, according to a new survey by T. Rowe Price. The survey, which polled roughly 3,900 401(k) plan members and more than 1,100 retirees, found the median annual contribution for women was 43 per cent less than men. It also found women are […]
Nearly two-thirds (62 per cent) of Canadian employers say they aren’t making changes to their benefits plans in 2023, according to a new survey by the Harris Poll on behalf of Express Services Inc. The survey, which polled more than 500 employers and more than 1,000 employees, found while more than a quarter (28 per […]
The funded position of a typical Canadian defined benefit pension plan fell slightly on a solvency basis and rose on an accounting basis in February, according to a new report by Telus Health. During the month, the solvency of the average DB pension plan dipped by 0.7 per cent, falling to 101.3 per cent. The […]
The Canada Pension Plan Investment Board is selling its stake in a scandal-ridden French home care company for €26.1 million — 6.18 per cent of the value of the initial investment. The move follows a restructuring agreement that provides Orpea Groupe’s bondholders with control of the majority of its equity. As part of the terms, other […]
A British Columbia court has dismissed an appeal of a Supreme Court of B.C. decision that upheld the B.C. Credit Union Employers’ Pension Plan’s choice to increase its normal retirement date to age 65 from age 62. In its decision, the court found the appeal — brought by a group of plan members — alleged […]
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