The Alberta Investment Management Corp. and the Canada Pension Plan Investment Board are reinvesting in a telecommunications infrastructure provider to support its acquisition of a U.S. digital network provider. BAI Communications Inc., a Toronto-based internet and telephone network service provider, is acquiring ZenFi Networks Inc, a New York-based digital infrastructure provider specializing in roaming services […]
Canadian defined benefit pension plans’ assets experienced losses of 8.6 per cent in the second quarter of 2022, bringing year-to-date total returns to negative 14.7 per cent, according to a new report by RBC Investor and Treasury Services. It was the most significant decline since the third quarter of 2008, when assets also fell by 8.6 […]
An article on Public Health Sudbury’s violation of the Ontario Human Rights Code following an employee’s termination over a vaccine refusal was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Arbitrator finds employer violated Ontario Human Rights Code for termination over vaccine refusal 2. More […]
The California Public Employees’ Retirement System is reporting a net loss of 6.1 per cent for its last fiscal year, according to its preliminary annual results. During the year ending June 30, 2022, the public sector defined benefit pension plan’s value decreased from $466.84 billion to $440 billion. According to a press release, the losses […]
A majority (88 per cent) of Canadian employees who are considering changing jobs in the next six months say compensation is the most important reason for the switch, according to a survey by ADP Canada. The survey, which polled more than 1,500 employees, found some employers have already adjusted their compensation structure to better help […]
Investors in a defunct Toronto asset management firm, the subject of an on-going court battle, have until late September to file compensation claims. In a decision from the Ontario Superior Court of Justice, investors in Bridging Finance Inc. must submit claims before Sept. 19, 2022. The judgement also directs the asset’s custodian, PricewaterhouseCoopers, to distribute […]
The appointment of the TTC pension plan’s first director of investment risk and analytics was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. TTC pension plan appointing Danny Ip director of investment risk and analytics 2. More than 6.6M Canadians participating in employer-sponsored pension plans: […]
The British Columbia Investment Management Corp. generated returns of 7.4 per cent during the year ending on March 21, 2022, according to its annual report. During the year, the investment organization’s net assets surpassed the $200-billion mark, rising from $199.6 billion to $211.1 billion. The results were hampered by the Russian invasion of Ukraine and […]
The Association of Canadian Pension Management is cautioning the Office of the Superintendent of Financial Institutions on a one-size-fits-all approach to risk management across the diverse sectors regulated by the OSFI. In an open letter responding to a consultation by the OSFI, Ric Marrero, chief executive officer of the ACPM, said such an approach has […]
Amazon.com Inc is pausing the construction of six new U.S. office buildings to re-evaluate the designs to better suit hybrid work. A report by Reuters noted that, despite the construction delays of office buildings in Bellevue, Wash. and Nashville, the company’s hiring plans for each city — 25,000 and 5,000 jobs, respectively — remain on […]