Ryerson University carries an impressive vision-care package: non-unionized employees can spend up to $800 every two years on glasses, contact lenses and laser eye surgery and receive an eye exam every two years. When the university’s union groups negotiated higher coverage for vision care, it only made sense for the non-unionized groups to follow suit, […]
For such a small number, the discount rate used by a pension plan can have a very significant impact on its funded status. Actuaries use the rate to determine the present value of the plan’s future liabilities in order to check whether the fund has enough assets to meet its obligations as they arise. The […]
The median solvency ratio of Canadian pension plans rose in the third quarter of 2016, according to the Mercer Pension Health Index, but the quarterly pension plan solvency survey from Aon Hewitt shows a decline in the same period. The median solvency ratio of Mercer pension plans clients reached 85 per cent on Sept. 28, […]
Canadian employers are being cautious about budgeting for salary increases in the coming year, according to a new survey by Mercer. It predicts average raises will be just 2.6 per cent across all employee groups. When taking anticipated salary freezes into account, the survey expects overall salary increases in 2017 will be even lower at 2.3 per cent. […]
“It would take me the entire hour to get rid of all the trigger points along your spine,” the massage therapist tells me during a recent visit to a Toronto clinic. I mumble surprise into the face pillow and agree she should focus on the knots in my shoulders. As she kneads, she casually suggests […]
With the provision of defined benefit pensions on the decline and the subsequent growth in defined contribution plans, Canada’s retirement savings landscape is in a significant state of flux. But one of the underlying implications of the move to defined contribution pensions is the consequent shift of responsibility. While the defined benefit plan member traditionally […]
With the wave of robotics and artificial intelligence anticipated to wash over the workplace, keeping pace with it all could require the attention of a dedicated, high-level individual. Given the breadth of the expected changes, some people are touting the idea of having a chief automation officer to oversee the burgeoning area of artificial intelligence. […]
With the third phase of the Client Relationship Model, Phase 2 (CRM2) rules around fee disclosure in Canada now in effect and new regulatory actions in countries such as Britain, Australia and the United States dealing with compensation in the financial services industry, what’s the landscape for transparency around workplace investments in this country? It’s […]
When it started hiring employees for its Canadian office a few years ago, global media intelligence company Meltwater sought outside assistance for its search for a competitive benefits package that offered 100 per cent drug and dental coverage, life and disability insurance, a registered retirement savings plan and other health benefits. Since Meltwater’s Canadian workforce […]
Group registered retirement savings plans were in the hot seat when the Ontario government declared they wouldn’t be comparable for the purposes of the Ontario Retirement Pension Plan. But now that Ontario is backing away from the ORPP after the June agreement to enhance the Canada Pension Plan, what’s the impact on group RRSPs? The […]