Alexander Kurth is planning to apply for the new Canada Emergency Response Benefit once the application is available on Monday. But despite being a gig economy worker who wouldn’t be able to receive employment insurance, it’s only because of a timing coincidence that he qualifies for the new support at all. Toronto-based Kurth is nearing […]
Walmart Canada has introduced a free virtual health-care platform for employees in response to the coronavirus. The service, through EQ Care, has been available to about 90,000 full, part time and temporary employees from the retailer’s stores and head offices since last week. It had started looking at virtual care options in the fall of 2019, but […]
Canada’s defined benefit plans have had a rough quarter. According to Aon’s median solvency ratio, DB plans fell to an average solvency of 89.1 per cent at the end of the first quarter, from 102.5 per cent at the end 2019. Mercer’s pension health index also dropped, from 112 per cent at the end of […]
MindBeacon is launching a new digital mental-health program, called Stronger Minds, to support all Canadians through heightened stresses related to the coronavirus pandemic. “We, as an organization, have been very committed to trying to make mental-health support accessible to Canadians,” says Claire Duboc, managing director of MindBeacon Group. “That’s been a reality, that many are […]
The novel coronavirus has introduced unprecedented volatility to financial markets and is taking its toll on pension plans. We’ve seen sharp corrections in most equity markets. At its lowest point in the correction to date, the S&P 500 lost 34 per cent of its value, from its peak in February. The TSX, which has also […]
In normal circumstances, pension plan members don’t respond well to being inundated with information about their plans. Typically, a deluge of content can turn off plan members, says Jillian Kennedy, leader of defined contribution and financial wellness at Mercer Canada. But today’s circumstances are far from ordinary. “Right now, you can’t over communicate.” In 2008, the financial […]
With a world in turmoil, some of Canada’s public pension plans and investment managers are considering how they can use their economic clout to help. The British Columbia Investment Management Corp. realized there was a responsibility in its staff working from home because of the coronavirus. Normally, staff are encouraged each year to take a day of […]
With the coronavirus continuing to affect businesses across North America, employers are eyeing a number of cost-containment strategies, including hiring freezes, wage freezes and delayed pay raises, according to a new survey by Willis Towers Watson. The survey, which polled more than 800 companies during the third week of March, found 42 per cent of […]
Trimac Transportation is partnering with Calgary-headquartered wellness app Headversity to provide mental-health and resilience training for its workers. Truckers have been experiencing elevated levels of stress since the federal government declared trucking an essential service in Canada during the coronavirus pandemic, according to the North American transportation company. “COVID-19 has impacted everybody,” said Kara Gillespie, vice-president of […]
The Ontario Teachers’ Pension Plan posted a net return of 10.4 per cent for 2019, bringing net assets to $207.4 billion. Its $20.2 billion in investment income represents an organizational best, said Jo Taylor, the pension fund’s president and chief executive officer, on a conference call Tuesday morning, outperforming the 2018 return of 2.5 per […]