Three-quarters (75 per cent) of defined contribution plan sponsors cite reviewing fees as the most important step they took to improve their fiduciary position in 2021, according to a new survey by U.S. investment consulting firm Callan. This was followed by examining the plan’s investment policy statement (63 per cent) and investment structure (61 per cent) […]
Increased benefits and expanded mental-health coverage are among the highlights of a new collective agreement ratified by Oakville Transit workers who are also members of Unifor Local 1256. Under the agreement, which ends a two-week strike, the workers will see an increase in their vision care coverage, from $400 to $450 annually. It also includes […]
Developing a made-in-Canada approach to employee ownership trusts will address multiple public policy challenges, according to a new report by non-profit Social Capital Partners. Employee-owned companies — where a broad base of employees own a significant stake in their employer — are associated with better company performance, stronger local economies, long-term investment and higher wealth […]
Terumo Corp. is establishing a global diversity, equity and inclusion philosophy and guiding principle to cultivate a culture of DEI within its organization and workforce. The medical device company provides products in more than 160 countries and regions and has more than 26,000 employees around the globe. According to a press release, the organization believes […]
An article on British Columbia’s paramedics and their need for enhanced mental-health benefits was the most read story over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. B.C. paramedics seeking enhanced mental-health benefits 2. Canadian pension plans overcoming legislation, governance challenges: webinar 3. Ontario’s DB pension plans should take steps […]
Target-benefit plans are being hampered by a disconnect between how they’re regulated and how they’re managed, according to a new report for the C.D. Howe Institute. In the report, Barry Gros, a retired actuary and chair of the pension board at the University of British Columbia’s staff pension plan, reviewed how target-benefit plans are managed, how […]
The British Columbia Investment Management Corp. is investing in a global corporate services provider. Through the agreement, which was reached with majority investor Corsair Capital, the institutional investor will secure a minority stake in the Zedra Group. Founded in 2016, Zedra offers its clientele, which includes individuals, pension plans and corporations, a range of financial services. […]
In a move widely anticipated by the financial sector, the Bank of Canada is increasing its target for the overnight rate to 0.5 per cent. “Persistently elevated inflation is increasing the risk that longer-run inflation expectations could drift upwards,” said the bank in a press release. “The bank will use its monetary policy tools to […]
Nearly all (92 per cent) U.S. employees are in favour of a four-day workweek, citing improved mental health and increased productivity as perceived benefits, according to a new survey by software company Qualtrics. While three-quarters (74 per cent) of respondents said they’d be able to complete the same amount of work in four days, a […]
In response to the ongoing conflict between Russia and Ukraine, the Alberta Investment Management Corp. and the British Columbia Investment Management Corp. are divesting from Russian assets. “As Alberta’s investment manager, this decision is both values- and value-driven,” said a press release. “It reflects a change in the price of geopolitical risk and sustained impairment […]