With an ageing workforce and the rising costs of healthcare, is the possibility of a prefunded healthcare benefit a viable one? As of March, Bell Canada was the latest to target its postretirement benefits. Starting Jan. 1, 2012, the telecommunications company will eliminate most benefits for retirees over age 55. And it will eliminate all […]
Corporate wellness programs, which can include fitness and nutritional coaching, gym memberships and professional growth opportunities, can only augment employees’ overall health and well-being. Unfortunately, only 20% of Canadian employees enjoy these programs, according to a new online survey by Monster.ca. Of the 2,800+ surveyed, only 10% said wellness programs were a waste of time. […]
According to U.S. statistics, in the event of a disaster, 80% of businesses without a business continuity plan(BCP)would shut down within a year, and 43% would never recover. A BCP is part of doing business, said Thomas Frank, director, risk management, BMO Financial Group, one of six speakers in a roundtable discussion at the Velma […]
The administrator of a pension plan can be the employer, a pension committee or a board of trustees, said Paul Dimitriadis, a lawyer with Blake, Cassels & Graydon, speaking at the Dominion Club in Toronto today. But no matter who the administrator is, the role of the administrator carries with it a large number of […]
This was a newly created position at the CPBI? IA-C: Two years ago, the board of directors set up a governance review of the institution and also clarified the job description of a new position of CEO because they thought the institution would be suffering because of a lack of good strong leadership. There was […]
Fifteen to 20 years ago, the approach to managing disability claims was a little like an assembly line. Employers handed over a claim to insurers with an “it’s your problem now” attitude. Insurers either accepted or rejected the claim. And a claimant, now homebound, viewed the workplace from the sidelines. A rather cold, harsh reality. […]
Finance Minister Jim Flaherty’s income trust tax announcement on Oct. 31, 2006, was certainly no treat for Canadian citizens and businesses. Earlier last year, Harper and the Conservatives made an election promise not to tax trusts. But yesterday afternoon, a number of MPs shelled out a treat of their own. A Parliamentary committee – with […]
It’s rough seas these days for plan sponsors. With pension plans investing in alternative assets such as private equity and real estate, sponsors are now taking on more onerous tasks as they attempt to navigate these investment choices. Similarly, with no foreign exchange limit for pension plans, global investing is on the rise, requiring a […]
The federal government has given the Canada Pension Plan Investment Board(CPPIB), which manages the pension plans for employees across Canada except Quebec, the green light to increase its use of derivatives. Since 1998, Section 14 of the CPPIB Regulations restricted the Board’s use of derivatives(that is, investment contracts in which prices depend upon the value […]
Canadian pension assets are in a healthy place right now. In 2006, pension funds’ assets under management reached $1 trillion for the first time. According to Greenwich Associates’ 2006 Canadian Investment Management Research Study, the reason for this landmark number has been strong investment returns. These returns have helped plan sponsors keep their funding ratios […]