With so many Canadian employees working from home due to the coronavirus pandemic, the Canada Revenue Agency is adding home office furniture to the list of expenses employers can reimburse tax-free. Usually, the CRA only allows employers to reimburse up to $500 of personal computer equipment so that an employee can carry out their employment duties […]
The Caisse de dépôt et placement du Québec is part of a $53-million round of Series C funding for AddEnergie Technologies Inc., a Quebec-based operator of electric vehicle charging stations. The Caisse initially invested in the company in 2016 and again in 2019, alongside partners. This round of funding included MacKinnon, Bennett & Co. Inc., […]
The average gross income replacement ratio for a typical defined contribution plan member was up at the end of September, according to Eckler Ltd.’s latest capital accumulation plan income tracker. It found a typical male DC plan member retiring at age 65 at the end of month saw their gross income replacement ratio returned to 56 per […]
Canadian defined benefit pension plans posted a median three per cent return in 2020’s third quarter, buoyed by positive performance in equity markets, according to the RBC Investor & Treasury Services plan universe. Year-to-date, the median return was 5.2 per cent for the period ending Sept. 30, 2020. “Canadian defined benefit pension plans remained in […]
The Canada Infrastructure Bank is appointing Ehren Cory as chief executive officer. In the new role, Cory’s first priorities will include implementing the bank’s $10-billion growth plan and drawing more private capital to the Canadian infrastructure market. He most recently served as CEO of Infrastructure Ontario, a role he held since 2017, after previously serving as president of the organization’s […]
The University of Toronto Asset Management Corp. is making significant progress toward its goals on climate change, according to its fourth annual responsible investing report. In terms of its goal to reduce the carbon footprint of its pension and endowment portfolios by at least 40 per cent compared to 2017 levels by the end of 2030, […]
While the shift from driving to an office in a suit to shuffling to a laptop in slippers was supposed to be a temporary reaction to the global health crisis, the majority of employees want it to be a permanent change. The majority (80 per cent) of U.S. employees said they expect to work remotely at least […]
The costs of employer-provided health plans in Canada are expected to rise seven per cent next year, outpacing general inflation by more than five per cent, according to a new report by Aon Canada. Contributing factors include higher drug prices, the impact of non-communicable health risks and the continued introduction of new and expensive therapies. Indeed, […]
While working Canadians expect to retire, on average, at age 62, they’ll require $878,000 in retirement savings, more than twice the amount of current retirees, according to a new study by Mackenzie Investments. It found 45 per cent of respondents who are still working said they plan to continue doing so in some capacity, compared […]
The Investment Management Corp. of Ontario has closed three private equity fund commitments totalling $1 billion. The three funds are: Kohlberg Investors IX, which aims to make control investments in North American middle-market companies in the business services, consumer, industrial manufacturing, health care and financial services sectors: Nordic Capital X, which aims to make control investments […]