With the increase in the Bank of Canada rate back in July and the second in September, there’s a looming possibility of an impact on prescribed rates. If they rise, what will that mean for employee loans? Fortunately, prescribed rates won’t rise this year, as is evident in the calculations below. Still, an increase is inevitable. While […]
At Mars Inc., every day is a take-your-dog-to-work day. The food manufacturer allows employees to regularly bring their dogs into its three office locations in Canada and provides several benefits to pet owners. The company’s headquarters in Bolton, Ont., have a courtyard where dogs can run and play, and employees can take eight hours of […]
The irony of pensions and benefits is that employees tend to ignore them until they need them or until their employer changes them. And whether it’s good news or bad news, there are almost always trade-offs. Changing pensions or benefits can be a tough sell to employees. When employers say “change,” employees often hear “change […]
While flexible benefits plans are a clear trend among Canadian employers, the range of choices can be daunting for employees. So how much choice is too much? That was a question Pitney Bowes Inc. considered when it redesigned its benefits plan in 2015. As part of the changes, the company trimmed its menu of mix-and-match […]
On occasion, I’ve been critical of the group insurance business. I’ve used the term lethargic to describe the pace of change and have been critical of what I thought was a far too rigorous embrace of the status quo. There has been some innovation over the years, but it has paled in comparison to the […]
As U.S. President Donald Trump’s administration seeks to keep trying to repeal and replace the Affordable Care Act, how would any change affect employer benefits costs, including Canadian businesses with U.S. operations? Canadian employers that decide to set up shop in the United States will notice a big difference when it comes to benefits costs. In the […]
Employers in the United States are increasingly requiring employees with same-sex partners to legally marry in order for their partner to receive health-care benefits, according to data from the International Foundation of Employee Benefit Plans. The organization compared data from two surveys, one published in 2016 and one in 2015, following the June 2015 U.S. […]
Royal Bank of Canada, the Toronto Transit Commission and Telus Communications are among Canada’s 25 best places to work, according to a new ranking published by job search website Indeed Canada. The ranking, based on employee reviews, lauds employers for leading corporate cultures, work-life balance and great pay and benefits, among other factors. “Companies that are […]
As Saskatchewan’s move to levy the provincial sales tax on insurance premiums takes effect next week, the Canadian Life and Health Insurance Association says the policy “should be immediately reversed.” “CLHIA believes that Saskatchewan’s imposition of sales tax on insurance products is not good public policy and should be immediately reversed,” said Ron Sanderson, director of […]
Facing a number of challenges not experienced by their larger counterparts, medium-sized employers must leverage their strengths when it comes to employee recruitment, according to a new report by the Economist Intelligence Unit. The report examines the hiring challenges faced by medium-sized companies in Australia, Britain, Canada, France and the United States. In Canada, medium-sized […]