The Ontario Municipal Employees’ Retirement System is investing in an Arizona-based solar energy business. In a deal reached with Clairvest Group Inc., the institutional investor secured a minority stake in NovaSource Power Services, which provides solar panel servicing for industrial and residential customers and manages 20 gigawatts of solar assets. Following the transaction, Clairvest will […]
The Financial Services Regulatory Authority of Ontario is seeking feedback on its proposed guidance on requirements for pension plans to take certain actions to avoid de-registration under the Income Tax Act. The proposed guidelines would provide an overview of the documents and information required by the FSRA and the Canadian Revenue Agency for pension plans […]
U.S. employers are anticipating health benefits costs will rise by an average of 5.6 per cent per employee in 2023, according to early results from a survey by Mercer. The survey, which polled more than 850 U.S. employers, found if respondents made no changes to their benefits plans, the cost for the largest plans would rise […]
HSBC Bank Canada is enhancing its benefits plan by adding new coverage for fertility treatments, surrogacy and gender affirmation. The bank is introducing a surrogacy medical benefit up to a maximum of $30,000 per lifetime for eligible surrogacy medical expenses incurred by a surrogate and fertility treatments up to a maximum of $20,000 per lifetime for […]
Nearly a third (30 per cent) of insurers are making changes to ensure there’s diversity among the medical providers within their networks, according to a new report by Mercer. The report found more than a quarter (27 per cent) of insurers said they’ve changed their eligibility access processes to make coverage more inclusive for LGBTQ2S+ […]
The Caisse de dépôt et placement du Québec is leading a funding round for a customer engagement software provider. During a US$105 million investment round for CleverTap, a California-based company providing a subscription-based online marketing platform to 1,200 digital consumer brands, the investment organization provided US$75 million. According to a press release, the funds will […]
The Pension Regulator, the U.K. government body that oversees defined benefit pension plans, is calling on plan sponsors to help advance a three-pronged strategy to fight pension fraud. “Over many years, we have worked to prevent savers’ losses and put fraudsters in prison: running large-scale public awareness campaigns, leading a multi-agency response to the threat […]
The majority (86 per cent) of North American employers are hiring employees at the higher end of salary ranges to help with attraction and retention, according to a new survey by WTW. The survey, which polled more than 850 employers in Canada and the U.S., found 66 per cent have increased hiring activity since the […]
The percentage of Canadians working from home increased slightly amid a seventh wave of the coronavirus pandemic, according to a report by Statistics Canada. In July, the percentage of workers aged 15 to 69 who worked most of their hours at home edged up 0.4 per cent to 24.2 per cent. Alongside short-term shifts in work location, many […]
The union representing more than 200 employees at Arconic Corp. in Lethbridge, Alta. has ratified a four-year collective agreement that protects the defined benefit pension plan currently in place. “Local 99 members showed great commitment to fairness in the face of [threats to] their pension plan,” said Justin Araki, Local 99 president, in a press […]