The union representing roughly 350 Canadian employees at Tennessee-based Yellow Corp. says the trucking company’s abrupt closure will have little to no impact on Canadian workers’ pensions. According to a spokesperson at Teamsters Canada, Yellow’s Canadian employees are enrolled in one of four defined benefit pension plans — all of which are fully or almost […]
Amid the increasing introduction of specialized medicines in Canada, key stakeholders in the private payer health-care sector are enhancing their collaborations to maintain the value of private drug coverage, said Joe Farago, executive director of private payers and investment at Innovative Medicines Canada, during a webinar by the Group Insurance Pharmaceutical Committee this week. “[The […]
A Markham, Ont. law firm is balancing the needs of employees and clients in its return-to-office strategy. Laura Williams, founder and managing partner of Williams HR Law LLP, says the firm is requiring employees to work onsite two to three days per week, with Friday a designated remote-working day for all employees. “It depends on […]
While institutional investors are no strangers to established markets such as Europe and the U.S., the world’s emerging and frontier markets can provide diversification and opportunities for lucrative returns. Not surprisingly, events such as the coronavirus pandemic and a shifting geopolitical landscape are influencing these decisions in 2022 and beyond. In recent months, Russia’s invasion […]
While medications used for treating inflammatory disease accounted for just 0.7 per cent of claims across Telus Health’s Canadian block of business in 2021, they represent the largest percentage of eligible drug costs at 12.6 per cent, due to the prevalence of high-cost treatments in this drug class. By comparison, diabetes medications accounted for 12 […]
Scotiabank is marking Pride Month by setting new targets for LGBTQ2S+ representation and connecting employees with volunteering opportunities in a range of communities. Dominic Cole-Morgan, senior vice-president of total rewards with responsibility for diversity and inclusion, says the bank is working toward a representation target of seven per cent in Canada by 2025, noting the […]
As the move away from traditional defined benefit plans continues and intensifies, Canada’s multi-employer pension plans are providing employers with another retirement savings option for their employees. And despite facing a number of challenges, from industries in decline to legislative obstacles, MEPPs continue to attract plan sponsors from across the country. Read: Canadian MEPPs facing challenges […]
The economic impact of the pandemic has been unevenly distributed across various industries, with travel and transportation among the hardest-hit sectors. However, while travel restrictions and subsequent employee layoffs in these industries made headlines throughout 2020 and 2021, the pension plans provided by these employers have largely weathered any economic fallout. The impact on air […]
Canada’s pension plans are weathering the coronavirus pandemic, with many plans currently in their best financial shape in several years. The early days of the pandemic painted a bleak picture for institutional investors. Between Feb. 19 and March 23, 2020, the S&P/TSX composite index dropped by 37 per cent — the latter date marking the index’s lowest point […]
With Ontario’s defined benefit pension plans in their best financial shape since 2009, the Financial Services Regulatory Authority of Ontario is advising plan sponsors and administrators to better prepare for the future. “They need a good sense of investment policies as well as how the plan itself may be affected [by different scenarios],” says Lester […]