Current pension deficits pose a crisis to the future and stability of plans, according to lawyer Sheldon Wayne of Hicks Morley. He came to that conclusion after a study by the Financial Services Commission of Ontario showed that that 75% of the more than 1,500 single-employer pension plans it looked at are underfunded on a […]
Despite companies’ conversion from expensive, cumbersome defined benefit(DB)pension plans to the more cost-effective, compact defined contribution(DC)plans in the last 10 years, a DC plan can still be burdensome to employers. “It’s becoming clear that DC plans are not as low maintenance as they seem,” said Stephanie Kalinowski, a partner at law firm Hicks Morley at […]
Avery Shenfeld, managing director and senior economist with CIBC World Markets, relayed his latest economic and financial markets forecast yesterday at the National Club in Toronto. “I’ve called this a benign slowdown,” Shenfeld said. “There are slowdowns that turn out okay for investors; there are slowdowns that turn into recessions. This seems to be of […]
Businesses should plan for a pandemic sooner rather than later, experts at the Pandemic Planning for Small & Mid-Sized Businesses seminar said yesterday. A flu pandemic is a worldwide event that results when a new influenza subtype emerges, said Dr. Susan Tamblyn, an associate clinical professor at the University of Western Ontario in London. “There […]
If older employees can’t afford to retire, what happens? Chances are if they’re healthy, they’ll continue to work. These employees, or hidden pensioners, will be a serious cost to businesses in the future, according to a report by Watson Wyatt. Businesses, then, should heed the following three risks, which, if not addressed in the years […]