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UPP selects CIBC Mellon for investment operations, pension plan member services

The University Pension Plan has selected CIBC Mellon to provide asset servicing, investment operations and plan member services, including custody, institutional accounting, performance and analytics, risk, compliance and pension benefit payment services. The jointly sponsored pension plan, which was launched on July 1, currently covers employees at Queen’s University, the University of Guelph and the University of Toronto, with […]

  • July 27, 2021 July 26, 2021
  • 09:00

Aon, Willis Towers Watson call off proposed merger

Aon and Willis Towers Watson have agreed to terminate their proposed merger and end litigation with the U.S. Department of Justice. The merger, which was first announced in March 2020 and received shareholder approval in August 2020, was challenged last month, with the DOJ asserting the deal could eliminate competition, raise prices and hamper innovation […]

  • July 26, 2021 July 26, 2021
  • 12:00

Canadian pension returns up during Q2, buoyed by global equities: reports

As global equities overcame inflationary fears and continued an upward trend, Canadian pension plan investment returns increased during the second quarter of 2021, with the median plan returning 4.1 per cent, according to Northern Trust Canada’s pension universe. “The course of the pandemic has certainly taught us attributes about strength and adaptation, fundamentals we can […]

  • July 26, 2021 July 26, 2021
  • 09:15

Ontario’s paid sick leave program costing less than expected

Ontario’s temporary paid sick leave program is receiving less uptake than initially expected. The Canadian Broadcasting Corp. reported Friday that, as of July 21, a total of $13.2 million in claims have been made to the program, which is retroactive to April 19 and ends on Sept. 25. When the program was first launched this […]

  • July 26, 2021 July 26, 2021
  • 09:00

Chief HR officers partly or fully responsible for DEI issues at 52% of U.S. employers: survey

For slightly more than half (52 per cent) of U.S. employers, the chief human resources officer is either partially or fully responsible for diversity, equity and inclusion efforts at their company, according to a new survey by XpertHR, a subsidiary of LexisNexis Risk Solutions Group. The survey, conducted among nearly 400 U.S. employers in May, […]

  • July 23, 2021 July 26, 2021
  • 15:00

Cryptocurrency sentiment growing bearish, finds survey

Canadian investors and advisors were skeptical about cryptocurrency in the second quarter of 2021, according to a new quarterly survey by Horizons ETF Management Inc. Canadian investors and investment advisors are more bearish about cryptocurrency than any other measured asset class. As part of the survey, Canadian investors and investment advisors were asked to rate […]

  • July 22, 2021 July 23, 2021
  • 12:30

CPPIB investing in Canadian AI, PSP in gene-editing software company

The Canadian Pension Plan Investment Board is investing in a Toronto-based artificial intelligence company. The CPPIB entered a $125 million funding round for a Untether AI Corp., a company that creates software and hardware used in AI platforms. The new funding will be used to enhance its software offerings and build a new generation of products, […]

  • July 22, 2021 July 22, 2021
  • 12:00

64% of DC plan sponsors looking to improve financial wellness programs: survey

The majority (64 per cent) of consulting and advisory firms said their plan sponsor clients are looking to improve financial wellness programs, according to a new defined contribution plan consulting survey by PIMCO. The same percentage (64 per cent) of respondents said plan sponsors want to improve participant retirement education and evaluate investment fees. The […]

  • July 22, 2021 July 22, 2021
  • 09:00

BCI names Ramy Rayes interim EVP, investment strategy and risk

The British Columbia Investment Management Corp. is appointing Ramy Rayes as acting executive vice-president of investment strategy and risk. Rayes, who joined the BCI in 2016, has taken over the role at the pension corporation from Stephan Dunatov on a temporary basis. Dunatov will join the Abu Dhabi Investment Council as chief strategist. Read: AIMCo appointing […]

  • July 19, 2021 July 20, 2021
  • 15:00

Johnston Group partnering with PocketPills on digital pharmacy platform

Johnston Group is partnering with PocketPills to provide a digital pharmacy platform. Plan members can access a pharmacist seven days a week by live chat or text message via the platform. “This partnership . . . continues to provide members truly flexible . . . benefits solutions in an ever-growing virtual world,” said Dave Angus, […]

  • July 16, 2021 July 15, 2021
  • 09:00