The shift to remote working is tamping down wage growth by two per cent over two years, shrinking — by more than half — employees’ expectations of real-wage catchup amid rising inflation, according to a report by the Becker Friedman Institute at the University of Chicago. It found while U.S. consumer prices rose 8.6 per cent […]
The Ontario Teachers’ Pension Plan is acquiring the parent company of a Canadian reverse mortgage provider. The pension fund is buying HomeQ Corp., which owns the HomeEquity Bank, from Birch Hill Equity Partners Management Inc. and several minor shareholders. While the financial details of the acquisition weren’t disclosed, a press release noted it’s part of the […]
Half (49 per cent) of U.S. employees younger than age 34 are withdrawing early from an individual retirement account or 401(k), according to a new survey by Morgan Stanley. The survey, which polled more than 900 U.S. workers, found among those making early withdrawals, 20 per cent said they needed the money to pay for […]
The Public Sector Pension Investment Board is entering a strategic alliance with a produce vendor. According to the agreement, PSP Investments will manage the acquisition of Spanish citrus orchards while Citri & Co. will operate and manage the farmland, packing, distribution and sale of crops. According to a press release, the alliance was brokered by […]
An Ontario Superior Court judge awarding $210,000 in costs against the Financial Services Regulatory Authority of Ontario was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ontario court awards $210K in costs against FSRA in Brewers Retail pension case 2. Transition to low carbon economy […]
Yelp Inc. is embracing its remote-working first approach by closing its offices in Chicago, New York and Washington D.C., as well as reducing its footprint in Phoenix, according to a blog post by chief executive officer Jeremy Stoppelman. While the company has been reopening its offices over the last nine months, he said just one […]
A new report is urging pension plan sponsors and other institutional investors to ensure the resilience of their portfolios in a number of different inflationary scenarios. The report from Mercer argued inflation rises spurred by the coronavirus pandemic and widespread monetary easing are balanced by several disinflationary forces, like globalization. Geopolitical tensions, however, could upset […]
New Brunswick’s auditor general is reigniting a dispute with the an independent public sector asset manager responsible for investing on behalf of pension plans jointly sponsored by Crown corporations. In a report, Paul Martin, the province’s auditor general, expressed concerns that Vestcor Investment Management Corp., which provides administration services for 11 public sector pension plans and […]
The Canada Pension Plan Investment Board is selling its stake in a U.K. wireless utilities provider. Through the deal reached with Digital 9 Infrastructure, an investment fund from Triple Point Investment Management, the investment organization will receive $585 million for its stake in the Arqiva Group Ltd. The transaction, which is subject to customary conditions […]
A third (34 per cent) of Canadians say their employer doesn’t provide training or support to deal with workplace conflict, while another 20 per cent say they’re experiencing increased aggression at work, according to LifeWorks Inc.’s latest mental-health index. The survey’s respondents reported an overall mental-health score of 64.9, up slightly from 64.8 in April. […]