New Brunswick – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 03 May 2024 21:03:19 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Vestcor returns 7.5% for 2023, amid rising inflation, high interest rates https://www.benefitscanada.com/canadian-investment-review/research-markets/vestcor-returns-7-5-for-2023-amid-rising-inflation-high-interest-rates/ Thu, 11 Apr 2024 15:00:54 +0000 https://www.benefitscanada.com/?p=154172 Vestcor Corp. is reporting a 7.5 per cent return for 2023, despite the challenges of rising inflation and high interest rates. The New Brunswick-based investment organization achieved five- and 10-year annualized returns of 6.27 per cent and 6.73 per cent, respectively. In a press release, Vestcor noted these returns ensure its clients continue meeting their […]

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]]> Top 5 HR, benefits, pensions and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pensions-and-investment-stories-of-the-week/ Fri, 09 Feb 2024 14:00:22 +0000 https://www.benefitscanada.com/?p=151793 An article on the Ontario Court of Appeal’s affirmation of a $1.5 million punitive damages award was the most-read article on BenefitsCanada.com this week. Here are the top five human resources, benefits, pensions and investment articles of the past week: 1. Court of Appeal upholds $1.5 million punitive damages award in LTD claims case 2. N.B. transferring 5 public […]

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]]> N.B. transferring 5 public DB pension plans to shared-risk model https://www.benefitscanada.com/pensions/governance-law/n-b-transferring-5-db-public-pension-plans-to-shared-risk-model/ Thu, 01 Feb 2024 14:00:50 +0000 https://www.benefitscanada.com/?p=150502 Legislation that mandates the transfer of five New Brunswick public sector defined benefit pension plans to a shared-risk model goes into effect today. The Pension Plan Sustainability and Transfer Act, which received royal assent in December, will impact more than 7,800 active members enrolled in five plans serving school board and nursing home employees and […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-64/ Fri, 08 Dec 2023 14:00:06 +0000 https://www.benefitscanada.com/?p=148547 An article on how Ontario’s proposed pay transparency legislation will impact employers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How Ontario pay transparency legislation will impact employers 2. Expert panel: How interest rates impact DB pension plans 3. How employers can shift younger workers’ ‘soft saving’ […]

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]]> Union protests N.B.’s plan to transform public sector DB pension plans https://www.benefitscanada.com/pensions/governance-law/union-protests-n-b-s-plan-to-transform-public-sector-db-pension-plans/ Fri, 01 Dec 2023 14:00:58 +0000 https://www.benefitscanada.com/?p=148086 The New Brunswick government introduced legislation Wednesday to transfer five of its public sector defined benefit pension plans to shared-risk plans, saying the move will ensure the sustainability of plans that have become unaffordable. “They were not designed to have cases where [employees] might work the same amount of years that [they are] retired,” said […]

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]]> Vestcor posts 3.63% loss for 2022 https://www.benefitscanada.com/canadian-investment-review/db-investments/vestcor-posts-3-63-losses-for-2022/ Thu, 11 May 2023 16:30:30 +0000 https://www.benefitscanada.com/?p=137780 Vestcor Investment Management Corp., an organization that manages the investment and administration of 11 public sector pension plans in New Brunswick, saw its investment decline 3.63 per cent in 2022. During the year, Vestcor’s assets declined from about $21 billion to $20 billion, according to a press release, which credited the losses to the unusually […]

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]]> OPTrust, Vestcor lay out climate change, responsible investment strategies https://www.benefitscanada.com/news/cir-news-news/vestcor-lays-out-responsible-investment-strategy/ Wed, 26 Oct 2022 19:00:55 +0000 https://www.benefitscanada.com/?p=128883 The OPSEU Pension Trust is enhancing its climate change strategy to successfully navigate the global transition toward net-zero emissions. The pension fund’s priorities include updating climate scenarios and examining any implications for its investment approach; launching climate due diligence frameworks for use by investment teams across all asset classes; implementing stewardship plans to advance the transition […]

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]]> Top 5 HR, benefits and pension stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-and-pension-stories-of-the-week-20/ Fri, 12 Aug 2022 13:05:06 +0000 https://www.benefitscanada.com/?p=125554 An article on Canadian employers increasing salaries and offering remote work to attract talent was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Canadian employers increasing salaries, offering remote work to attract talent: survey 2. Expert panel: How national dental care could impact group benefits […]

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]]> New Brunswick amending pension legislation to allow for reserve accounts, annuity buyouts https://www.benefitscanada.com/pensions/governance-law/new-brunswick-amending-pension-legislation-to-allow-for-reserve-accounts-annuity-buyouts/ Tue, 09 Aug 2022 13:00:21 +0000 https://www.benefitscanada.com/?p=125253 New Brunswick is amending its Pension Benefits Act to allow for enhanced communications with plan members, exempt compulsory membership for religious beliefs and allow for reserve accounts and the statutory discharge of annuity buyouts. The amendments will also provide the Financial and Consumer Services Commission with the authority to address overpayment errors and grant rule-making, according to […]

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]]> New Brunswick expanding biosimilars policy in public drug plans https://www.benefitscanada.com/news/bencan/new-brunswick-expanding-biosimilars-policy-in-public-drug-plans/ Fri, 23 Apr 2021 19:00:07 +0000 https://www.benefitscanada.com/?p=99058 The New Brunswick government is expanding the use of biosimilars for certain chronic conditions in its public drug plans. Approximately 3,000 beneficiaries of the province’s drug plans who are living with diseases such as inflammatory arthritis, inflammatory bowel disease, diabetes and psoriasis will have until Nov. 30 to switch from a biologic to the biosimilar […]

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