New benefit amounts for the Canada Pension Plan (CPP) and Old Age Security (OAS) came in from January 1, 2016. CPP benefits will increase by 1.2% for those already receiving the benefits. For 2016, the maximum CPP retirement benefit for new recipients age 65 will be $1,092.50 per month, an increase of $330 for the year […]
Mercer has acquired CPSG Partners, a Workday services partner, to meet the demand for cloud-based finance and HR services. The acquisition will expand Mercer’s existing Workday practice while providing a global distribution channel for CPSG, according to a press release. The addition of CPSG will help Mercer to expand the scope of its services into […]
The merger between Towers Watson and Willis was completed on Jan. 4, with the new business to be known as Willis Towers Watson. A revised merger had been approved by shareholders in mid-December. Read: Towers Watson and Willis shareholders approve revised merger As previously disclosed, Willis Towers Watson expects to generate $4.7 billion in incremental value for […]
The solvency position of Canadian pension plans were down slightly in 2015, according to the latest Mercer Pension Health Index. The median solvency ratio of the pension plans of Mercer’s clients stood at 85% on December 31, 2015, down from 88% at the beginning of the year, with around nine out of 10 plans still […]
The average pay of Canada’s highest-paid CEOs by 12:18pm on Monday, January 4 was $48,636, an amount it takes the average full-time employee the rest of the year to earn, according to a new report. The Canadian Centre for Policy Alternatives’ (CCPA) annual study of CEO pay in Canada shows that the country’s top 100 CEOs […]
Major changes to the rules around the funding of private sector defined benefit pension plans took effect on January 1, 2016 in Quebec. The changes in Bill 57 include: Eliminating solvency funding; Requiring that going-concern funding be augmented by funding towards a stabilization provision, the amount of which will be specific to each plan’s investment policy; and […]
The Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group have announced that they have formed a student housing joint venture entity called Scion Student Communities LP. The joint venture, through its subsidiary, UHC Acquisition Sub LLC, has signed an agreement to acquire University House Communities Group, a student housing portfolio in the […]
As Finance Minister Bill Morneau meets with his provincial and territorial counterparts in Ottawa this weekend, it is expected that the Canada Pension Plan (CPP) will be one of the top items on the agenda, and industry organizations are weighing in on what might be coming down the pipeline. “We are unlikely to have a […]
The merger between Towers Watson and Willis, which is set to receive regulatory approval in early 2016, demonstrates the need for consulting firms to diversify their lines of business in a changing world. “It is interesting in that it reflects pressure on the traditional consulting firms that stems from the decline in their defined benefit pension business,” said […]
There has been a dramatic increase in the number of employees across the globe who are reporting serious mental and emotional health concerns, according to a new report. The report, published by Workplace Options, examined a set of data covering more than 100,000 employees across the globe to evaluate trends in the use of employee and […]