Employer-sponsored health benefits cost trends are expected to increase by a record 10 per cent on average globally in 2023, amid rising inflation and increasing health-care utilization, according to a new survey by WTW. The survey, which polled more than 250 insurers representing 55 countries, found cost trends in Canada are expected to increase by […]
An article on the lack of benefits provided by small- and medium-sized employers in Eastern Canada was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. 80% of SMEs in Eastern Canada don’t provide employee benefits: survey 2. Bank of England intervened in bond market to […]
The Canada Pension Plan Investment Board is appointing Kristina Fanjoy as senior managing director and chief financial officer. In the role, she’ll be responsible for the CPPIB’s financial policy and reporting strategy, as well as business planning, performance reporting and analytics, valuations, financial controls, accounting and tax governance. Read: CPPIB promoting Priti Singh to global […]
The Caisse de dépôt et placement du Québec is financing part of a renewable energy project in Japan. The investment organization is investing about $90 million in a green bond released by Vena Energy Ltd. The green bond’s proceeds will be used to finance a solar power project on Honshu, Japan’s largest and most populous […]
While Canada’s pension system continues to rank well globally, the current economic environment poses particular risks for defined contribution pension plan sponsors and members, according to a new report by the CFA Institute and Mercer. “As DC pension plans continue to make up a greater part of Canadians’ retirement, turbulent markets, soaring inflation and a […]
Canada’s employment insurance system requires modernization to weather negative economic shocks, according to a new report by the C.D. Howe Institute. The report, which analyzed unemployment rates across Canada over 13 years, found 85 per cent of the variation in rates reflects provincial differences, including layoffs occurring in regions characterized by persistent high unemployment rates […]
The vast majority (87 per cent) of 401(k) retirement plans — covering more than 90 per cent of 401(k) plan members — offer employer contributions, according to a report by BrightScope Inc. and the Investment Company Institute. The report, which analyzed 64,000 large private sector 401(k) plans, found employer contributions represented 31 per cent of […]
A majority of plan sponsors (80 per cent) and plan members (77 per cent) described the quality of their health benefits plans as excellent or good, according to the 2022 Benefits Canada Healthcare Survey. Employers with 500 or more employees (86 per cent) were more likely than those with fewer than 50 employees (72 per […]
The union representing employees at Glencore’s Raglan Mine in Nunavik, Que. has ratified an agreement that includes benefits gains and increases in paid disability leave. Nearly two-thirds (61 per cent) of the members of United Steelworkers Local 9449 voted in favour of the five-year agreement, which includes short-term disability coverage of 70 per cent of […]
Canada ranks No. 15 among developed nations for retiree well-being, down from No. 10 in 2021, according to Natixis Investment Managers’ annual global retirement index. The index, which provides an overview of the relative well-being and financial security of retirees in 44 countries across four indices, ranked Canada No. 11 in health, No. 12 in […]