Canadian employers are making ongoing changes to their pension and benefits offerings as the coronavirus pandemic drags on, according to a new survey by the International Foundation of Employee Benefit Plans. The survey found almost one in five (18 per cent) employers offering prescription drug coverage have extended the time allowed under prior authorization periods, […]
The New Brunswick government is expanding the use of biosimilars for certain chronic conditions in its public drug plans. Approximately 3,000 beneficiaries of the province’s drug plans who are living with diseases such as inflammatory arthritis, inflammatory bowel disease, diabetes and psoriasis will have until Nov. 30 to switch from a biologic to the biosimilar […]
Private drug plan spending increased 5.4 per cent, according to Express Scripts Canada’s annual drug trends report. While up to a one per cent increase in private drug plan spending was anticipated, similar to the 0.6 per cent increase between 2018 to 2019; the report showed a decrease in the percentage of members who claimed, […]
The Financial Services Regulatory Authority of Ontario is issuing leading practices for the province’s defined benefit multi-employer pension plans, in the areas of governance, risk management and communication. In the area of governance, these practices include establishing a comprehensive orientation policy to onboard new trustees to ensure they begin their term prepared to carry out their duty. […]
The Caisse de dépôt et placement du Québec is appointing a new board of directors for the CDPQ Infra, its subsidiary that serves as principal contractor for major infrastructure projects. Charles Emond, president and chief executive officer at the Caisse, has been appointed chair of the board, while Jean-Marc Arbaud, who was recently appointed president […]
The market value of assets held by Canadian employer pension plans increased to $2.12 trillion in the third quarter of 2020, according to a new report by Statistics Canada. It found while private sector assets saw a year-over-year increase of 4.6 per cent to $654.3 billion, public sector assets nearly reached $1.47 trillion. Stocks posted the largest increase at […]
Morneau Shepell Ltd.’s latest mental-health index reveals Canadians’ health and well-being remains relatively unchanged since December’s low of negative 11.8, leading many employees to prioritize their mental and physical health as the coronavirus pandemic persists. Canadians’ mental-health score for January 2021 is negative 11.7, indicating a continued decline in mental health compared to early on […]
Saskatchewan’s Public Employees Benefits Agency is finalizing the modernization of its pension administration system. Earlier this month, the province’s Public Employees Pension Plan converted to the PEBA’s new platform which includes the new PLANet system, an online self-serve portal for employees and members of both the PEPP and the Municipal Employees Pension Plan. The MEPP […]