Canadian investment managers had $3 trillion in assets using responsible investment strategies as of Dec. 31, 2021, down slightly from the $3.2 trillion reported in 2019, according to a survey by the Responsible Investment Association. The survey, which polled 77 asset managers and 13 asset owners, found more than nine in 10 (94 per cent) respondents are […]
Six in 10 (60 per cent) U.S. employees say they’re more likely to stay at their current job if their employer offers a retirement savings plan, according to a new survey by Voya Financial Inc. The survey, which polled 1,000 employees, also found respondents are more likely to stay with their employer if they offer physical […]
More than eight in 10 (87 per cent) employees have experienced burnout over the last year, with the number increasing to 89 per cent among middle managers and 92 per cent among senior leaders, according to a new survey by Ceridian HCM. The survey, which polled 8,800 employees globally, found just 29 per cent of respondents […]
A new report from the C.D. Howe Institute says pension plan fiduciaries shouldn’t ignore climate change and other environmental, social, and governance factors that are relevant to financial purposes. However, when plan fiduciaries use ESG factors to prioritize social or environmental concerns, such as those expressed by plan members, they put themselves on shaky legal […]
Twitter Inc. employees are returning to the office following the cancellation of the social media company’s remote working policy. In his first email to employees, new Twitter chief executive officer Elon Musk banned remote work unless he personally approved it, according to a report by Bloomberg. Employees are also expected to work in-office a minimum […]
An article on the strike by Ontario education workers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. CUPE’s Ontario education workers striking for extended benefits, wage increases 2. Stellantis, Unifor agreement includes pension and retirement gains 3. Sounding Board: How employers can better support employees […]
Canadian women are retiring with 78 per cent of the wealth accumulated by Canadian men, slightly better than the global average of 74 per cent, according to a new report by WTW. In North America, it found pay gaps and delayed career progression are the primary drivers of the wealth disparity between men and women, […]
The Canadian Institute of Actuaries is supporting several of the Alberta government’s proposed legislative and policy updates for private sector pension laws, including the move towards a going-concern plus regime for defined benefit plans and the introduction of automatic features in defined contribution plans. In its response to the consultation draft, the CIA cited the benefits […]
The maximum pensionable earnings under the Canada Pension Plan for 2023 is increasing to $66,600 from $64,900 in 2022. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada, according to a press release from the Canada Revenue Agency. Contributors who earn more than $66,600 in 2023 […]
Defined benefit pension plan sponsors in the U.S. are facing increasing costs when de-risking through annuity buyouts, according to a new report by consulting firm Milliman Inc. It found the estimated cost to transfer risk to an insurer increased in September to 100.1 per cent of a plan’s total liabilities, up from 96.9 per cent […]