The union representing 1,900 non-academic workers at the University of Saskatchewan is raising objections to a proposal the school has tabled to eliminate its defined benefit pension plan replace it with a defined contribution or target-benefit plan. In December, the Canadian Union of Public Employees’ bargaining committee proposed a jointly sponsored DB plan as a compromise, said […]
Eckler Ltd. is acquiring independent financial wellness company Employee Financial Well-being. Since 2011, Employee Financial Well-Being has provided financial education and training to employees across Canada. In a press release, Eckler said there’s a need to increase unbiased education as Canadians are presented with benefits that require them to make decisions. “Eckler’s acquisition of EFW is another […]
Half of global institutional investors are anticipating an increase in their allocations to real estate over the next two years, according to the Pension Real Estate Association’s 2019 investor intentions survey. The survey, which included responses from 144 global institutional investors with assets under management totalling US$817.5 billion, found pension funds had the second highest allocation […]
Three-quarters (76 per cent) of U.S. defined benefit plan sponsors with de-risking goals intend to completely divest all of their DB plan liabilities at some point in the future, according to MetLife’ annual pension risk transfer survey. Among all plan sponsors surveyed 10 per cent said they’ll completely divest their plans within the next two years; 24 per […]
Koskie Minsky LLP launched a class action lawsuit on Friday on behalf of all veterans who were in receipt of disability pensions or disability awards between 2002 and 2010 from Veteran Affairs Canada. The statement of claim alleges the attorney general, acting through Veteran Affairs Canada, miscalculated the disability pensions and disability awards of veterans during these […]
The final quarter of 2018 was choppy for pension managers’ pooled funds as they posted a median return of negative 5.6 per cent, contributing to the year’s overall median return of negative 2.7 per cent, according to Morneau Shepell Ltd.’s pension performance universe. “The bond market posted a positive return of 1.4 per cent for 2018,” said Jean […]
Flexibility working, harassment prevention, pay transparency and a reliance on soft skills are the main trends affecting Canadian human resources leaders, according to a new report by LinkedIn Corp. The report, which is based on a survey of more than 5,000 HR professionals in 35 countries including nearly 300 in Canada, found companies are adapting to […]
The Association of Canadian Pension Management is calling on the federal government to take caution in creating any new significant disincentives “that would push more corporations to abandon their DB plans.” In its response to the government’s consultation on enhancing Canadians’ retirement security, the association said the best protection for workers’ and retirees’ pensions is a strong employer. […]
The final quarter of 2018 was choppy for pension managers’ pooled funds as they posted a median return of negative 5.6 per cent, contributing to the year’s overall median return of negative 2.7 per cent, according to Morneau Shepell Ltd.’s pension performance universe. “The bond market posted a positive return of 1.4 per cent for 2018,” said Jean […]
Employees at a seniors’ residence in Hamilton, Ont., are asking the facility’s owner, the Ontario Teachers’ Pension Plan, to provide them with better pay and a pension. The staff at Amica Dundas, which include registered practical nurses, personal support workers, as well as dietary and custodial staff, currently have no pension plan and lower wages compared […]