Courtesy of Benefits and Pensions Monitor website News Alerts
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
February 19, 2008
Courtesy of Benefits and Pensions Monitor website News Alerts
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
February 19, 2008
Successfully wooing job candidates takes more than salary alone, says a survey by Robert Half International. While 31 per cent of chief financial officers said offering higher compensation than competitors is the most effective incentive for attracting accounting professionals, 20 per cent felt the benefits package had the greatest influence, up from one per cent five years ago. The findings also suggest traditional incentives are a higher priority today. While the popularity of benefits surged, the number of financial executives who feel telecommuting and flexible work schedules are the top draw fell eight points, from 28 per cent in 2003 to 20 per cent in 2008, on par with benefit packages.
Courtesy of Benefits and Pensions Monitor website News Alerts
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hot Topic Tidbit - Assessments Replace AIR Fees
June 13, 2007
The Financial Services Commission of Ontario (FSCO) is introducing a new pension assessment process to provide a more effective means of recovering pension sector costs. This assessment process replaces the Annual Information Return (AIR) filing fee. It focuses on ensuring an accurate recovery of pension sector expenditures and minimizing the likelihood of a surplus or a shortfall in the assessment of pension sector costs. Mark Newton, of Heenan Blaikie, says the annual filing fees could change significantly year-to-year, resulting in less predictability on the part of pension plan administrators, thereby adding another disincentive to establishing pension plans. This is yet another example of regulators not encouraging the establishment and maintenance of pension plans, he says.
Hot Topic Tidbit - Carbon Minoxide, the Silent Killer
February 28, 2007
It’s February, the middle of winter and prime home heating season.While a rumbling furnace may be music to our frostbitten ears, it’s important to respect the silent threat our heat sources may pose. Click here to read more.
Matheis Associates Benefits Consultants Inc.
20th Anniversary
May 16, 2006
Matheis Associates Benefits Consultants Inc. celebrated its 20th anniversary by holding an open house for its new, expanded offices in Pickering, ON. On hand for the ribbon-cutting were, left to right, Chris Reynolds, president of Investment Planning Counsel; Talia Matheis, manager, marketing and communications, Matheis Associates; David Ryan, mayor of Pickering; Patti Matheis, vice-president, Matheis Associates; and Harry Matheis, president of Matheis Associates and branch manager of Investment Planning Counsel
Hot Topic Tidbit - Work-life Balance Needed
April 26, 2006
Employers need to encourage employees to achieve a work-life balance if they hope to bolster the mental health and well-being of their workforce, says John Cardella, chief people officer at Ceridian Canada. Speaking at a seminar at the Canadian Institute’s 2006 Best Employers In Canada Conference, he said employers should consider flex hours and mobile work as two methods to help employees achieve a work-life balance. As well, employees need to learn how to manage technology which is now “managing us.” Cell phones, Blackberries, and eMail are blurring the distinction between work and home, he said. Estelle Morrison, director, Lifeworks Strategic Solutions at Ceridian, said depression is the fastest growing cause of days lost to disability.
April 3, 2006
Unless the reform agenda becomes seriously derailed, Alberta is on course to radically change its approach to healthcare and, in the process, will radically change the way in which sponsors of employee benefit plans integrate with the provincial system, says a Mercer Communiqué. Alberta has announced a new Health Policy Framework that will guide the future reform of its healthcare system. It has proposed 10 policy directions including putting patients at the centre by encouraging Albertans to play an active role in maintaining and improving their health and in deciding on appropriate care and treatment. Mercer is suggesting employers examine the terms of their benefit plans and policies to avoid any unintended cost transfer that might result from the Alberta government implementing some of its proposals.
Courtesy of Benefits and Pensions Monitor website News Alerts
Hot Topic Tidbit- Teachers Face Funding Shortfall
March 17, 2006
Ontario teachers may be asked to take reduced benefits and make higher contributions to make up a funding shortfall in the plan. Plan funding is a cause for concern, says Claude Lamoureux, chief executive officer of the Ontario Teachers Pension Plan. “We believe the most prudent way forward is realistic valuation assumptions, contribution increases, and changes to benefits." Future pension benefits were 77 per cent funded at the end of 2005, down from 84 per cent a year earlier. This was despite a 17.2 per cent increase in return on investment to $14.1 billion from $10.8 billion in 2004. The plan’s funding status has been hurt by falling long-term interest rates and low bond yields. Teachers had net assets of $96.1 billion at the end of 2005, up from $84.3 billion in 2004.
Courtesy of Benefits and Pensions Monitor website News Alerts
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hot Topic Tidbit- Ontario's Healthcare Future
February 24, 2006
By 2027, the total cost of healthcare in Ontario will equal total government
revenues, says Brett J. Skinner, director of health and pharmaceutical policy
research at The Fraser Institute in Toronto. Speaking at the CPBI breakfast seminar
series ‘Post-Chaoulli,’ he said across the country the cost of healthcare is growing
faster than governments can pay for it. Increased spending on healthcare is not
a problem, he says, if the money is being well-spent. But, Canadians are getting
poor value for the money being spent on healthcare.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Members Taking More Responsibility
May 20, 2005
Canadian employees believe those who smoke should pay more for their employee
health benefit plan. That is just one of the findings of a Sanofi-aventis survey
which polled employee health benefit holders to understand how they feel about
containing healthcare costs and their willingness to relinquish some benefits
in order to maintain the core coverage of their employee health benefit plan.
It found, for example, that the majority of respondents, 70 per cent, believe
that employees who do not smoke should pay less for employee health benefit coverage.
Fifty-four per cent who have a smoker in their family also agree. Furthermore,
54 per cent agree the cost of employee health benefit plans should be higher for
employees who don’t exercise or are seriously overweight. The survey has found
that respondents recognize that resources of the public healthcare system and
the health benefit plans are not limitless and employees value their plans so
that they are willing to make choices when it comes to managing health risks and
costs to maintain core coverage.