An increase in the protection limit for defined benefit pension plan members’ assets invested in annuities is making it easier for plan sponsors to de-risk, says Mary Kate Archibald, a principal at Eckler Ltd. Assuris, the not-for-profit organization that protects a portion of retirement benefits from annuities in the event of an insurer’s insolvency, now covers up to $5,000 […]
The University of Toronto is supporting employee well-being with enhanced gender affirmation coverage. Heather Boon, acting vice-president of people strategy, equity and culture at U of T, says the coverage was negotiated in several of its recent collective agreements and is also available to non-union employees. “Gender affirmation coverage is being provided to help support […]
PricewaterhouseCoopers Canada is continuing to foster an inclusive work environment and sense of belonging with the addition of three new employee resource groups. The new ERGs, which the company refers to as inclusion networks, are the Muslim Inclusion Network, Middle Eastern and North African Inclusion Network and the Jewish Inclusion Network. “These groups were created […]
Three-quarters (75 per cent) of Canadian adults aged 55 to 64 have $100,000 or less in savings and 44 per cent have less than $5,000, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 2,000 Canadian employees, found 44 per cent haven’t set aside any money for retirement […]
Saskatchewan’s Public Employees Benefits Agency is transitioning to a not-for-profit corporation. The PEBA began pursuing the transition in 2021 at the request of the trustees of the two largest pension plans it administers — the Public Employees Pension Plan and the Municipal Employees Pension Plan. The not-for-profit will begin operations on Jan. 1, 2024 under the […]
The union representing 89 employees at the University of Toronto has ratified a two-year agreement that includes retirement and benefits gains, including gender affirmation coverage. The agreement includes six retiring allowance packages equivalent to two months of base wages for employees who qualify for an unreduced pension in accordance with the University Pension Plan’s provisions. […]
Colliers North America is building a diverse workforce by promoting gender diversity and using feedback from its employee resource groups, says Muriel Thompson, the organization’s director of social impact and employee relations. “In commercial real estate, we’re all competing for clients who are increasingly interested in our commitments to diversity, equity and inclusion. Many of […]
As the coronavirus pandemic switches to an endemic phase, employers are taking a more holistic approach to mental health to make sure everyone is well-equipped and feels supported, says Julie Cousineau, partner and health practice leader at Normandin Beaudry. Earlier this year, the consultancy conducted a study that found almost 50 per cent of Canadian […]
Equitable Bank’s 2022 Workplace Benefits Awards win is empowering employees to ask for more financial wellness benefits and to recognize the full range of resources available to them, says Madison Dickson, the bank’s human resources coordinator. “The win enhanced our employee experience because more employees feel comfortable coming up to [our team] and saying, ‘I […]
Community Savings Credit Union is reducing stigma around mental health in the workplace and the community through increased wellness support and advocacy work. The British Columbia-based credit union recently increased coverage for mental-health counselling to $2,000 per employee per year and renamed sick days to ‘health days’ to help employees feel more supported. “We wanted […]