Nearly two-thirds (63 per cent) of U.S. workers say their financial stress increased in 2022, according to a new survey by the Hartford Financial Services Group Inc. The survey, which polled more than 900 employees, found more than half (56 per cent) said their financial stress negatively impacted their mental health, a percentage that increased […]
If there was one message for defined benefit pension plan sponsor delegates at the 2022 Defined Benefit Investment Forum, it was that the fate of global markets in 2023 is on a knife’s edge. In the keynote address, Douglas Porter, chief economist and managing director at BMO Financial Group, said he expects the Canadian economy […]
The Ontario Teachers’ Pension Plan is appointing Romeo Leemrijse as executive managing director of equities, effective Jan. 1, 2023. In the role, he’ll be responsible for the growth of the Ontario Teachers’ private and public equities investments and will report to Ziad Hindo, the pension fund’s chief investment officer. Read: Ontario Teachers’ names Anna Murray […]
An article on how Canada compares to other countries in terms of its vacation day offering was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Canada ranks 39 out of 43 countries for vacation day offering: report 2. Coke Canada expanding coverage for mental-health, family-building […]
A bill currently under consideration by Canada’s senate could hasten the closure of open defined benefit plans, according to Gavin Benjamin, a partner in LifeWorks Inc.’s pension and benefits solutions business. “In our view, this is a potential outcome, particularly with respect to companies for whom the ability to borrow is affected by the bill,” […]
In 2022, the University Pension Plan implemented a growth plan, investment strategy, climate action plan and administration system. In a note to the jointly sponsored defined benefit pension plan’s 37,000 members, Barbara Zvan, its president and chief executive officer, touted the achievements during the UPP’s first full calendar year as well as the plans for its second. […]
Roughly a third (29 per cent) of Canadian employees say they used all of their vacation time in 2022, a slight improvement from 2021 (27 per cent), but well below 2019 (48 per cent), according to a new survey by Maru Public Opinion for ADP Canada Co. The survey, which polled more than 800 Canadian workers, […]
Canadians’ total pension wealth increased by 7.9 per cent in 2021 to reach nearly $4.9 trillion by the end of year, according to a new report by Statistics Canada. It found revaluations of pension asset prices — largely due to equity market gains — increased pension wealth by $259.4 billion in 2021. On average, pension […]
A bill intended to provide defined benefit pension plan members with super-priority should be a major concern for Canadian DB plan sponsors, according to LifeWorks Inc.’s latest monthly pension indices report. “While the goal of [Bill C-228] is to protect the pensions of members and retirees in the event of a company’s insolvency, it could […]
The Public Sector Pension Investment Board is investing in a Norwegian offshore wind service company. The investment organization and asset management firm Sandbrook Capital Management are injecting US$250 million into Havfram. The funding will be used to cover a portion of the costs of building a fleet of vessels capable of installing 300 metre wind […]