The Ontario Teachers’ Pension Plan is entering a non-binding agreement with a Canadian company seeking to develop copper mines in Saskatchewan. In a deal reached with Foran Mining Corp., the pension fund will invest $200 million in the company’s McIlvenna Bay project. Following the announcement of the agreement, Foran’s stock rose 15.4 per cent. Read: […]
The value of a typical Canadian defined benefit pension plan’s assets improved in July, according to LifeWorks Inc.’s latest monthly report. An investment portfolio designed to mimic typical Canadian DB portfolios saw its assets grow by 5.4 per cent over the month. The value of the benchmark portfolio, which is composed of 50 per cent […]
With nine in 10 (89 per cent) employers finding it challenging to find skilled professionals, companies are using a range of recruiting tactics to win over skilled workers, according to a new survey by Robert Half Canada Inc. The survey, which polled more than 500 employers, found the most commonly used attraction strategies were increasing salaries […]
Alcoa Corp. is de-risking roughly US$1 billion in U.S. defined benefit pension obligations and assets with an annuity transfer. The group annuity contracts will be executed by two subsidiaries of Athene Holding Ltd., which will assume payments for roughly 4,400 participants in November, according to a press release. Read: Looking under the hood of jumbo […]
Amazon.com Inc. is expanding its employee benefits program with free career coaching, college advisement and other specialized career services. The new offerings will provide employees with virtual one-on-one coaching to help them identify the academic programs that best fit their skills and long-term goals, as well as continuous support throughout their higher education experience, according […]
A bill that would amend U.S. labour law to establish a new classification for gig workers could also deny them the right to a minimum wage and other employment protections. The Worker Flexibility and Choice Act would change the Fair Labor Standards Act so ’employee’ doesn’t include anyone who’s entered into a worker-flexibility agreement, such […]
Scotiabank has promoted Ayman Alvi to vice-president of global pension and benefits. Alvi joined the bank in 2019 as director of global benefits. Previously, he was a senior manager and consulting actuary at KPMG in Canada, a manager at PricewaterhouseCoopers, an actuarial associate at Willis Towers Watson (now WTW) and a senior pension specialist at […]
An article on a ruling against the Blue Cross Life Insurance Co. of Canada and how it could affect long-term disability premiums was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ruling against Blue Cross Life Insurance could affect LTD premiums: lawyer 2. Brown and […]
More than two-thirds (70 per cent) of Canadian employees have enjoyed working from home more than they expected, according to a new survey by VMware Inc. The survey, which polled 1,500 employees, found only 40 per cent feel their employer has clearly explained expectations around a return to the office. More than half (52 per cent) […]
Nearly two-thirds (61 per cent) of Canadian employers are using a hybrid work model, down five per cent from last year, according to a new survey by Colliers Canada. The survey, which polled more than 350 employers, found 37 per cent have employees working in the office full time, up four per cent from 2021. […]