A bill intended to provide defined benefit pension plan members with super-priority in the event of a plan sponsor’s insolvency passed in the House of Commons last week, furthering division among stakeholders on whether the legislation will cause more harm than good in the long term. The Association of Canadian Pension Management, the Canadian Chamber of […]
The British Columbia Municipal Pension Plan’s new Municipal Retiree Benefit Trust is joining the B.C. Investment Management Corp. The MRBT, which has $100 million in assets under management, is an employee life and health trust that provides group benefits to the MPP’s retirees and their spouses/dependants. It was recently created following a program review and redesign. […]
Many employees may be dreaming of a carefree retirement following many years in the trenches — but they’ll likely have to keep dreaming if they don’t have first-rate, post-retirement health and dental insurance coverage. Many employers provide supplemental health insurance (drug, dental, extended health and out-of-country medical) as part of comprehensive packages of employee benefits, […]
More than 2,000 workers at a Vale nickel mine in Sudbury, Ont., are continuing their strike after their union, United Steelworkers Local 6500, rejected the company’s five-year contract proposal, which cuts health and medical benefits for existing and future employees. The June 14 offer was Vale’s second since the workers went on strike June 1, […]
Navacord Corp. is further expanding its group benefits business by acquiring Penmore Benefits Inc. A division of The Penmore Group, Concord, Ont.-based Penmore Benefits Inc., provides comprehensive benefits and retirement programs, including international benefits, for small- to medium-sized businesses across both private and public sectors. The company will continue to operate independently and maintain its commitment […]
Following an unprecedented 2020, Canada’s plan sponsors and pension plans are incorporating the lessons of the last year as they prepare for a new decade, according to a recent webinar hosted by Mercer Canada. The coming years will be marked by developments including increased geopolitical tensions and the lingering economic effects of the coronavirus pandemic, […]
Quebecers are more likely to start taking benefits from the Quebec Pension Plan at age 60 than other Canadians with their Canada Pension Plan benefits, according to a new study from the Institute for Research on Public Policy. While deferring benefits is financially advantageous for some, the study found it might be prudent for single people and […]
Despite the coronavirus pandemic’s severe and disproportionate impact on the health of aging adults, older Canadians say they’re coping far better than younger demographics, according to a new study by Edward D. Jones & Co. in partnership with Age Wave, a U.S.-based think tank focused on issues relating to aging populations. The study, which included […]
Canada Post Corp. employees and some retirees are receiving retroactive wage increases, as well as adjustments to their disability and life insurance and pensions, through two new collective agreements between the Canadian Union of Postal Workers and the crown corporation. The agreements between Canada Post and its rural and suburban and urban postal service workers — represented by two […]
The bargaining unit representing University of Ottawa support staff has voted down a so-called final offer from the university by 80 per cent. The unit, which is part of the Ontario Secondary School Teachers’ Federation, is objecting to proposed cuts to certain benefits in the offer, including cuts to the current retirement allowance and parental leave top-ups, as […]