Over the past 25 years, Canada’s retirement system has evolved significantly through new funding frameworks and federal and provincial reforms to facilitate innovation in plan design. And with Canadians living and working longer and investment returns predicted to soften, it’s no surprise the pension industry is calling for an update to the Income Tax Act […]
The majority (86 per cent) of Canadian women have at least one challenge when it comes to finances and investment, according to a new survey by the Financial Planning Standards Council. Published to coincide with International Women’s Day, the survey found 38 per cent of respondents admit they know very little about finance and investment. And […]
Ernst & Young has introduced an online retirement modelling tool to help employees prepare for life after work. Since its launch at the end of January, 25 per cent of the firm’s employees have logged in to register and use the tool, with about 55 per cent of that group under the age of 40. “I was pleasantly surprised. It’s […]
In its 2018 budget on Tuesday, the federal government confirmed it would introduce a new five-week incentive for second parents to take parental leave. The use-it-or-lose-it employment insurance parental sharing benefit, which will take effect in June 2019, will be available to eligible two-parent families, including adoptive and same-sex couples, to take at any point following the arrival of […]
The 2018 budget has confirmed the federal government is creating an advisory council on the implementation of a national pharmacare program. Marc-André Gagnon, associate professor at Carleton University’s School of Public Policy and Administration, believes the budget’s wording around implementation, rather than consultation, marks a real commitment to moving forward on this issue. “The advisory council is really […]
The Caisse de dépôt et placement du Québec returned 9.3 per cent in 2017, an increase on its return of 7.6 per cent in 2016. While announcing the annual results on Wednesday, Michael Sabia, president and chief executive officer of the Caisse, said the portfolio reacted almost exactly as forecasted. He also highlighted the important transition period […]
When Loblaw Companies Ltd. purchased annuities to reduce the risk in its defined benefit pension plans in January 2017, the $350-million, inflation-linked buyout kicked off a year of significant activity in the Canadian annuity market. Group annuity purchases had reached nearly $2.5 billion by the end of the third quarter of 2017, according to Willis […]
CGI Group Inc. has rolled out a new year’s wellness program that tackles employees’ health goals from an initial consultation through to the development of a personalized action plan. The global information technology company, which has Canadian offices in British Columbia, Alberta, Ontario and Nova Scotia, is offering the New Year, New Me program to up […]
Plan sponsors looking to integrate pharmacogenetic testing into their benefits plan will soon have lots of information to consider as Canada’s biggest insurance companies roll out pilot projects and research begins to shed light on the return on investment. “The market is expanding. Insurers are piloting projects. You will hear a lot about pharmacogenetics over the next 12 months,” said […]
A proposed guideline setting out standards for the disclosure of intermediary compensation in group benefits and retirement services could have a big effect on the market. Dave Patriarche, president of Mainstay Insurance Brokerage Inc. and founder of Canadian Group Insurance Brokers Inc., is supportive of compensation disclosure and says the Canadian Life and Health Insurance Association’s new guideline makes […]