News – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 27 Mar 2024 20:45:56 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Ontario continues work on infrastructure bank, target-benefit pension plan framework https://www.benefitscanada.com/canadian-investment-review/alts/ontario-continues-work-on-infrastructure-bank-target-benefit-pension-plan-framework/ Wed, 27 Mar 2024 19:00:26 +0000 https://www.benefitscanada.com/?p=153691 In its 2024 budget on Tuesday, the Ontario government reiterated its support for a provincial infrastructure bank to leverage public sector pension investments. The bank, renamed the Building Ontario Fund, was announced in the province’s 2023 fall economic statement and will support the development of new long‐term care homes, energy infrastructure, affordable housing, municipal and […]

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Hydro-Quebec’s $185 billion expansion plan getting institutional investor attention: report https://www.benefitscanada.com/news/cir-news-news/hydro-quebecs-185-billion-expansion-plan-getting-institutional-investor-attention-report/ Wed, 27 Mar 2024 19:00:12 +0000 https://www.benefitscanada.com/?p=153537 A new $185 billion plan by Hydro-Quebec to build out increased power capacity is gaining attention from institutional investors, according to a report by Bloomberg. Michael Sabia, chief executive officer at Hydro-Quebec, said he’s confident in finding the right partners to help tackle the new project, which was announced last November and is designed to […]

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Employers can support different generations with flexibility, empathetic leadership: expert https://www.benefitscanada.com/news/bencan/employers-can-support-different-generations-with-flexibility-empathetic-leadership-expert/ Wed, 27 Mar 2024 13:00:04 +0000 https://www.benefitscanada.com/?p=153616 Employers can support a multigenerational workforce by understanding each generations’ needs and offering flexibility and empathetic leadership, says Darryl Wright, a partner at Ernst & Young Canada. An October 2023 survey by EY found a quarter of Canadian employees were likely to quit their job in the next 12 months, with generation Z and millennials […]

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New York State Common Retirement Fund curbing oil and gas investments https://www.benefitscanada.com/canadian-investment-review/alts/new-york-state-common-retirement-fund-curbing-oil-and-gas-investments/ Tue, 26 Mar 2024 19:00:43 +0000 https://www.benefitscanada.com/?p=153144 The New York State Common Retirement Fund is restricting its exposure in eight integrated oil and gas companies, including divesting a portion of its investment in Exxon Mobil Corp. In a press release, New York State Comptroller Thomas DiNapoli said the decision was fueled by a review of the oil companies — Guanghui Energy Company, […]

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Tim Deacon leaving Ontario Teachers’ for Sun Life Financial https://www.benefitscanada.com/notice/appointment-notice/tim-deacon-leaving-ontario-teachers-for-another-role/ Tue, 26 Mar 2024 19:00:10 +0000 https://www.benefitscanada.com/?p=153650 Tim Deacon is leaving his role as chief financial officer at the Ontario Teachers’ Pension Plan for a leadership role at another financial institution, effective April 5. Effective April 8, Deacon will begin a new role as Sun Life Financial Inc.’s chief financial officer. He joined the Ontario Teachers’ in 2021, succeeding David McGraw after serving as […]

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Nearly half of working Canadian women disappointed with employer’s support during maternity leave: survey https://www.benefitscanada.com/benefits/absence-management/nearly-half-of-working-canadian-women-disappointed-with-employers-support-during-maternity-leave-survey/ Tue, 26 Mar 2024 13:00:53 +0000 https://www.benefitscanada.com/?p=153585 Nearly half of Canadian women employees say they’re dissatisfied with their organizations’ support during maternity leave, according to a survey by Maturn. The survey, which polled more than 1,000 women, found two-fifths (39 per cent) didn’t receive a top up. Among the 59 per cent who said they received some form of paid leave, the benefits […]

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More than £50 billion in U.K. pension benefits at risk of being lost, misplaced: study https://www.benefitscanada.com/pensions/retirement/more-than-50-billion-in-u-k-pension-benefits-at-risk-of-being-lost-misplaced-study/ Mon, 25 Mar 2024 19:00:11 +0000 https://www.benefitscanada.com/?p=153577 More than £50 billion in U.K. pension benefits were at risk of being misplaced in abandoned accounts or scattered across multiple lost pots in 2023, according to a study by the Centre for Economics and Business Research on behalf of PensionBee Ltd. It noted at least 4.8 million U.K. pension pots were considered lost in 2023, […]

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71% of Canadian employees considering leaving their jobs in 2024: survey https://www.benefitscanada.com/news/bencan/71-of-canadian-employees-considering-leaving-their-jobs-in-2024-survey/ Mon, 25 Mar 2024 13:00:50 +0000 https://www.benefitscanada.com/?p=153514 Nearly three-quarters (71 per cent) of employees in Canada are considering leaving their current jobs and exploring better opportunities elsewhere this year, according to a new survey by Hays PLC. The survey, which polled 4,500 respondents, found among workers planning to stay at their current jobs, a quarter (25 per cent) said they’d consider leaving […]

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Federal minimum wage rising to $17.30 per hour on April 1 https://www.benefitscanada.com/news/bencan/federal-minimum-wage-rising-to-17-30-per-hour-on-april-1/ Fri, 22 Mar 2024 19:00:23 +0000 https://www.benefitscanada.com/?p=153519 The federal minimum wage is rising to $17.30 per hour, effective April 1. The increase from $16.65 reflects the increase in the annual average consumer price index for 2023. Roughly 30,000 employees in the federally regulated private sector are expected to benefit from the increase, according to a press release, which also noted employers are […]

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CalPERS doubling down on allocations to private market assets https://www.benefitscanada.com/canadian-investment-review/alts/calpers-doubling-down-on-allocations-to-private-market-assets/ Fri, 22 Mar 2024 19:00:21 +0000 https://www.benefitscanada.com/?p=153306 The California Public Employees’ Retirement System is increasing its investments in private market assets to maximize returns from its highest-performing asset classes. The pension fund said it’s increasing its private market allocations from 33 per cent to 40 per cent, according to a press release, which noted CalPERS is increasing private equity allocations from 13 […]

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