The Federal Court of Appeal has dismissed a legal challenge by former Air Canada pilots who claimed the company was wrong to force some to retire at age 60. The dismissal of an appeal by 18 ex-pilots stems back to a Canadian Human Rights Tribunal ruling that the airline had the right to compel some pilots to retire […]
Schroders Investment Management Ltd. is naming Michelle Skelly as its new head of Canada. Skelly joined Schroders in 2007 and has served as institutional sales director in Canada since 2012. “North America continues to be an area of growth for Schroders and I am pleased to have Michelle Skelly lead our efforts in Canada,” said […]
Three-quarters (74 per cent) of employees said financial benefits, such as savings tools, offered by their employer at the time of a pay raise would lead to less stress, while 78 per cent said it would help them feel more confident about their finances, according to a new survey by Commonwealth. The survey, which polled […]
The Ontario Court of Appeal has ruled an employee was in the right when she rescinded her retirement notice after circumstances changed. In September 2016, Elisabeth English, a 64-year-old employee at Manulife, resigned after the company said it would be implementing a new computer system, citing her concern with learning a new system. When she met with […]
Mercer Canada has appointed Bernard Mercier as partner and wealth business leader for its Vancouver division. In the new role, he’ll be responsible for service offerings as well as leading the pension and investment team. With more than 30 years of experience in retirement consulting, business development and leadership, Mercier has expertise directing pension plan […]
As of 2018, there was one Canadian worker over the age of 55 for every worker between the ages of 25 and 34, according to a new report by Statistics Canada. This ratio is down significantly from 1996, when there were 2.7 workers between the ages of 25 and 34 for every worker aged 55 and […]
Globally, the majority (85 per cent) of employees want help with their pension and retirement planning, according to a new survey by Accenture. The report, which surveyed workers in 10 countries in Asia-Pacific, Europe and South America, also found 82 per cent of respondents said they’d like retirement coaching. Millennial workers expressed the most interest […]
Canadian boomers age 50 and up are concerned they haven’t saved enough for retirement, according to a new survey by the Royal Bank of Canada. It found the savings gap varies widely. Those with investable assets of more than $100,000 want to save, on average, $949,000 but are falling behind by $275,000, while those with investable assets of less […]
Support staff for the Prairie South School Division in Moose Jaw, Sask. have voted overwhelmingly in favour of job action, up to a full withdrawal of services, when the school year starts again. The staff, members of the Canadian Union of Public Employees 5512 chapter, object to their employer’s attempt to remove a long-service recognition benefit that provides employees with […]
Inflation must be taken into account when designing both plan sponsor and government retirement programs because, over time, it will undermine purchasing power. In terms of recruiting and retaining employees, workplace retirement plans are important, but they also represent a significant cost for employers. Inflation-adjusted government pension programs can help lower these costs. But plan sponsors and […]