Just months after emerging from bankruptcy protection, Stelco Inc. has filed a preliminary prospectus for an initial public offering as part of a plan to inject funding into its pension and retiree benefits plans. On Wednesday, Stelco, now owned by Bedrock Industries, announced it had filed a preliminary prospectus with the securities regulators in each of […]
Quebec-based Rideau Recognition Inc. is rolling out a 30-day workplace health challenge for employers that use its new workplace wellness and health education app. The health challenge, which begins Oct. 2, is open to any employer that offers the organization’s Vistance Wellness app to its employees. The winning company will receive $2,500 to donate to […]
Retirement savings products once again led the way in the growth of the life and health insurance industry, according to the Canadian Life and Health Insurance Association’s annual fact book. Of the $631 billion in employer-sponsored pension plans, the industry managed $142 billion in 2016, up from $131 billion in 2015. And life insurers paid […]
Nortel Networks Corp., Stelco Inc., Sears Canada Inc. These are just a few of the many bankruptcy or restructuring cases that have catapulted the financial state of company pension plans into the spotlight. But while the attention generally focuses on protecting the company’s employees and retirees, it’s important to remember that there are a number […]
Caisse de dépôt et placement du Québec and Canadian private equity firm Novacap are investing in a Quebec-based payment processing and merchant services provider. With operations across North America and Europe, Pivotal Payments serves more than 50,000 merchants, such as restaurants, hotels and taxis. It transacts US$14 billion on its various platforms each year, according […]
While the majority of Canadian employers agree on the benefits of having a diverse workforce and an inclusive workplace, only half measure the impact of their diversity and inclusion programs, according to a new report by the Royal Bank of Canada and the Institute for Canadian Citizenship. The report, which surveyed 64 organizations employing 1.2 […]
An Ontario arbitrator has struck down an employer’s imposition of mandatory generic substitution in its benefits plan. Last week, arbitrator Russell Goodfellow ruled on a grievance by United Steelworkers Local 1-2010 that challenged Eacom Timber Corp.’s move to mandatory generic substitution in 2016. As part of the change, the plan would reimburse employees only up […]
Nearly half (45 per cent) of global institutional investors reported that their hedge fund portfolios had reached or exceeded expectations as of June 2017, compared to just 21 per cent that said the same at the mid-year mark in 2016, according to new research by Preqin Ltd. As such, the majority of investors now hold […]
The ongoing benefits fraud case at the Toronto Transit Commission continues to unfold as the owner of an orthotics store had pleaded guilty in the case. According to the TTC, Adam Smith, the owner of Healthy Fit Inc., pleaded guilty to two counts of fraud over $5,000 this week. The court sentenced him to two […]
The Alberta Investment Management Corp. is investing in oilfield services company Western Energy Services Corp. with a $215-million financing deal. According to the agreement, the $215-million second lien loan will be available to the Calgary-based company in a single draw and will mature with five years. AIMCo will also purchase a private placement of 9.1 million common […]