Group annuity sales in Canada topped out at a record high of $4.6 billion in 2018, beating 2017’s sales of $3.7 billion, according to the latest data from Sun Life Financial. This represents an acceleration in the market, which had been on the rise, with 2014’s sales hitting $2.5 billion. Strong sales in the last quarter […]
The Great-West Life Assurance Co. is expanding its coverage of medical cannabis, which includes a new agreement with Shoppers Drug Mart Inc., to deliver its medical cannabis coaching program. “We’ve expanded our optional medical cannabis coverage to our pay-direct drug plans, which represent the vast majority of all of our drug plans, to help the financial, physical […]
The OPSEU Pension Trust is partnering with several investment firms to buy three buildings in the downtown Toronto financial district. The properties are anchored to the Dynamic Funds Tower, the OPTrust’s current corporate headquarters. The other investors include the Great-West Life Real Estate Fund, the London Life Real Estate Fund and I.G. Investment Management Ltd. […]
Two-thirds (65 per cent) of Canadians would take a drug containing cannabis if it were prescribed by a doctor, approved by Health Canada and covered by insurance, according to a new Ipsos poll. Among the 65 per cent, 36 per cent said they’re very willing and 29 per cent said they’re somewhat willing to do so. Men (69 […]
The Canadian Union of Public Employees Local 1975 is calling for an immediate meeting with the University of Saskatchewan’s board of governors to a find a resolution to the bargaining unrest on campus, which includes issues around the pension plan. The university is proposing to eliminate the current defined benefit plan and replace it with a defined contribution […]
About half of Canadian employees are definitely (21 per cent) or possibly (32 per cent) going to ask for a pay raise in 2019, according to a new survey by Indeed. The survey, which polled 1,000 employees, found this is expected to be more prevalent among millennials (58 per cent) than those aged 55 and older (51 per […]
While the Ontario Workplace Safety and Insurance Board has traditionally handled medical cannabis on a case-by-case basis, it’s new policy on the drug takes effect on March 1, 2019. The policy, which provides a framework for entitlement to, and approval of, medical cannabis by the WSIB, sets out the following five conditions for entitlement: Neuropathic pain; Spasticity resulting […]
Nearly half (40 per cent) of Canadians don’t know whether their employers offer diversity and inclusion programs, according to a study by the Smith School of Business at Queen’s University and Catalyst Canada. About two-thirds (69 per cent) of respondents said they have a favourable view of these programs. However, 33 per cent of male respondents said they believe these […]
Art Babcock is retiring after more than 40 years in the Canadian group benefits industry. In 1974, he started his career at the Metropolitan Life Insurance Co. of Canada. After six years in personal insurance, he moved over to group benefits as manager of group insurance and pensions at MetLife. In 1989, Babcock joined the Alexander Consulting Group, which […]
A third (33 per cent) of Canadian women aren’t confident they’ll be able to afford their desired lifestyle in retirement, according to a survey by RBC Insurance. Women between the ages of 45 and 54 (38 per cent) were more likely to report this uncertainty than those aged 65 or older (22 per cent). Single women (36 […]