In its 2022 budget on Thursday, the Ontario government said it’s implementing a permanent target-benefit pension plan framework in 2023. The budget noted specified Ontario multi-employer pension plans, which provide these types of benefits, have been operating under temporary regulations that will expire in 2024 unless replaced by a permanent framework. “A permanent target-benefit framework […]
The Ontario Teachers’ Pension Plan is investing in a unicorn firm behind a popular European tax app. The pension fund’s private equity subsidiary Teachers’ Venture Growth served as the lead investor in a US$220 million investment round for Taxfix. As a result of the capital infusion, the Berlin-based software provider’s valuation surpassed US$1 billion. Founded […]
Nearly three-quarters (71 per cent) of U.S. employers feel the deteriorating mental health of their workforce is having a negative financial impact on their companies, according to a survey by the Hartford Financial Services Group Inc. The survey, which polled more than 500 U.S. employers and 1,000 workers, found 34 per cent of employees reported […]
Two-fifths (43 per cent) of global employees said they’re likely to quit their job in the next 12 months, citing factors such as higher total pay (35 per cent) and career growth opportunities (25 per cent), according to a new survey by EY. The survey, which polled more than 1,500 business leaders and more than […]
The overwhelming majority (92 per cent) of British institutional investors and wealth managers are planning to increase their allocations to renewable energy in order to diversify their portfolios, according to a survey by London-based asset manager Downing LLP. The survey, which polled 100 professional investors including pension plan sponsors, institutional investors and asset managers, found […]
Two-fifths (42 per cent) of U.S. employees are likely to leave their job in the next three to six months, according to a new survey by workplace analytics provider Humanyze. The survey, which polled more than 2,000 U.S. managers and employees, also found 52 per cent of managers expect higher attrition rates in the coming […]
The Township of Springwater, Ont. is introducing a four-day workweek as part of a five-month pilot program to improve work-life balance for municipal employees. Starting April 25, employees can voluntarily work longer daily hours in a four-day schedule, according to a press release, which noted these employees will be in one of two groups that […]
Due to inflation, a majority (84 per cent) of U.S. employees believe their money doesn’t go as far as it used to, leaving many to wonder how to prioritize saving for retirement, according to a survey by Voya Financial Inc. The survey, which polled 1,000 adults aged 18 and up, found three-quarters of millennials (73 per […]
The federal government’s 2022 budget is addressing long-standing rules preventing defined benefit plan sponsors from borrowing in most circumstances. In the $56-billion budget, which is expected to easily pass into law with the support of Liberal and New Democratic Party members of parliament, proposes providing more borrowing flexibility to administrators of registered DB plans. The […]
The Canada Pension Plan Investment Board is partnering with New York-based data encryption firm Inpher Inc. to create a private network of asset managers and data contributors. The network will allow the CPPIB to derive insight from distinctive data sources to enhance investment research and generate returns above industry benchmarks, according to a press release, […]