With providers of dental and paramedical services closed, many aspects of the benefits plans are seeing reduced use. But drug plan spending is continuing unabated — and experts say new concerns are coming up during the crisis. Plan sponsors that have implemented 90-day supplies as a cost-control measure may have to see if their plan can be adapted during […]
Provincial and federal regulators are beginning to roll out relief measures for defined benefit pension plan sponsors, ranging from administrative filing extensions to freezes on commuted-value transfers. At the federal level, the government announced Thursday it will be halting solvency special payments for federally regulated DB plans until the end of 2020 to ensure plan […]
While equity markets took substantial hits as the coronavirus pandemic arrived in North America, technology and health-care companies have performed well and are set to be long-term winners for institutional investors. “A lot of the digital transformation themes that we focus on and think about have really been highlighted, as many digital companies are really […]
Provincial Aerospace Ltd. is helping its employees’ careers take flight with its tuition assistance program and professional development initiatives. The aerospace firm and regional airline, with headquarters in St. John’s, Nfld., provides no-limit tuition subsidies for staff who want to grow within their current roles or set themselves up for other positions in the company. […]
Women are in a worse position than men when it comes to pension savings, thanks to several systemic factors. So how can plan sponsors bridge the gender pension gap and help women prepare for retirement? The gender pension gap continues to be a real and pressing issue. Globally, the World Economic Forum estimates that women’s […]
Summers are big business for the Butlers. Samantha and her husband John are partners in a small photography and videography business, with the bulk of their work taking place during the summer wedding season. But this year will be different. “We’re facing about $30,000 of lost income,” she says. “And we’ve only lost weddings up […]
An arbitrator has ruled in favour of the Winnipeg Police Association in its dispute with the City of Winnipeg over the police pension plan. The association filed the grievance in November 2019 after the City attempted to make alterations to the defined benefit pension plan. The changes included increasing employee contributions from eight per cent to 11.5 […]
The coronavirus pandemic is expected to impact employers’ short-term disability claims’ experience as workers fall ill and require time off work to recover from the virus, but plan sponsors may also have to prepare for an increase in long-term disability claims after the crisis eventually ends. The spike in claims could follow the same pattern as it did […]
Alexander Kurth is planning to apply for the new Canada Emergency Response Benefit once the application is available on Monday. But despite being a gig economy worker who wouldn’t be able to receive employment insurance, it’s only because of a timing coincidence that he qualifies for the new support at all. Toronto-based Kurth is nearing […]
Walmart Canada has introduced a free virtual health-care platform for employees in response to the coronavirus. The service, through EQ Care, has been available to about 90,000 full, part time and temporary employees from the retailer’s stores and head offices since last week. It had started looking at virtual care options in the fall of 2019, but […]