New workers who are members of the Canadian Postmasters and Assistants Association (CPAA) will be joining a defined contribution pension plan after a labour arbitrator ruled in the company’s favour. The arbitration decision comes as the Canada Post continues to negotiate with a separate group of workers — who are members of the Canadian Union of […]
The Caisse de dépôt et placement du Québec generated a two per cent return in the first half of the year ended June 30, 2016, its strongest half-year return since 2010. “This is a reasonable return,” Michael Sabia, the pension fund’s president and chief executive officer, said in a conference call on Friday morning. “This being […]
More than 1,000 employee and retiree members of Co-op Atlantic’s defined benefit pension plan are to share $7.25 million following a New Brunswick judge’s approval of a plan that signals the final steps of the creditor protection process. The outcome is the “best of a bad situation,” says Ron Pink, a labour and employment lawyer […]
It has been more than a year since Jonathan Zaid won the right to have his medical marijuana prescription covered under his group benefits plan, effectively kicking off a wider conversation about coverage for the drug. For nearly a decade, Zaid, 23, had been suffering from a chronic condition called new daily persistent headaches. He […]
With the third phase of the Client Relationship Model, Phase 2 (CRM2) rules around fee disclosure in Canada now in effect and new regulatory actions in countries such as Britain, Australia and the United States dealing with compensation in the financial services industry, what’s the landscape for transparency around workplace investments in this country? It’s […]
The Client Relationship Model is a regulatory effort designed to help clarify investment performance and costs for investors. Phase 1 What it involves: New disclosure rules for advisors and dealers When: Beginning July 2014 Charges, fees and other costs must be disclosed verbally or in writing prior to any transaction. The advisor or dealer must […]
IBM has been ordered to pay more than $23 million to 451 active and retired employees of its plant in Bromont, Que., a decade after its decision to unilaterally amend a clause in its defined benefit pension plan. The case is a warning to employers about the importance of properly documenting and communicating to employees […]
If the defined contribution pension plan currently on the negotiating table for new Canada Post employees who are members of the Canadian Union of Postal Workers is the same as the one brought in for members of the Association of Postal Officials of Canada in 2015, it would have matching employer contributions up to a […]
In a year that witnessed volatile markets and a plummeting Canadian dollar, 92 per cent of the plans on Benefits Canada’s top 100 pension funds list still saw an increase in their total assets in 2015. The total average growth across the list was 8.2 per cent, with the positive increases ranging from the Canadian […]
British Columbia’s Teachers’ Pension Plan is decreasing its employer contributions from July 1 after its most recent valuation results showed the plan is in surplus. The valuation, published in January 2016, showed the plan’s basic account had actuarial assets of $22.9 billion and actuarial liabilities of $22.4 billion as at December 31, 2014, meaning the plan […]