Delta Air Lines has received the green light to end its pilots’ pensions by the Pension Benefit Guaranty Corporation(PBGC). The airline said it needed to terminate the pension plan to emerge from bankruptcy next spring. The PBGC will take over the airline’s pensions and pay pilots part of the benefits they expected. According to the […]
Pensioners and plan sponsors may have been ready to sound the alarm this past Halloween when Finance Minister Jim Flaherty announced a tax on income trusts. The tax will be effective in 2011 for existing trusts and 2007 for new trusts. Making the front pages of the major national newspapers, the income trust tax alarm […]
The Caisse de dépôt et placement du Québec will invest $2 million in Maetta Sciences Inc. The investment will aid the metal manufacturing company with its technology for the industrial sector, including aeronautics and medical products. The Boucherville, Quebec-based firm has developed a new technology for the manufacturing of metal parts by powder injection molding […]
Although Canadians may not have much luck in keeping New Year’s resolutions, that luck may change if they’re job searching. The latest Robert Half International Financial Hiring Index indicates that financial executives will continue to hire through the first quarter of 2007, but at a slower rate than the last quarter of 2006. The survey […]
The Public Sector Pension Investment Board(PSPIB)and Loral Space & Communications are buying Telesat from BCE for $3.42 billion. The sale is contingent on approval in Canada and the United States and is expected to be completed by the middle of next year. In October, PSPIB announced it would acquire Retirement Residences Real Estate Investment Trust […]
Bill 107, the amendment act to the Human Rights Code, passed its third reading on Dec. 4, 2006, and is expected to become law some time next year. How Bill 107 will affect employers remains to be seen, but employers should be aware of three changes emerging from this legislation, according to lawyers at Fasken […]
Three areas of Bill 102 will affect private plan sponsors, said Sandra Pellegrini, a consultant with Mercer HR Consulting, at the Ontario Club in Toronto yesterday. They are: access to drugs, value for money and appropriate use of drugs. Access to drugs The new “Conditional Listing” and “Exceptional Access” sections in Bill 102 will hasten […]
Privacy legislation places limits on the collection, use and disclosure of personal information, said Michael Wolpert, a lawyer with Osler, Hoskin & Harcourt in Calgary, at the Ontario Club in Toronto yesterday. It’s important for employers to familiarize themselves with collection, use and disclosure, he continued, because everything revolves around these terms with respect to […]
“Flex is really defined when the employee has a choice of how to spend the company’s money,” said Tim Hadlow, senior benefits consultant at Hewitt Associates, explaining flexible benefits plans at the Ontario Club in Toronto today. Although there is a range of flex plans, the most common, Hadlow said, is the full flex. In […]
Graeme Jannaway, managing director, Jannaway & Associates, explained his strategy for business continuity at the Pandemic Communications Forum at Toronto’s Courtyard by Marriott. “Business continuity is a situation where you beat down as many of the risks as you can,” he explained. “Those risks you can’t avoid, you write plans that tell you what you […]