The COVID-19 pandemic has brought rapid regulatory and legislative responses to provide relief to Canadian businesses and workers in many areas. In this blog post, we highlight some of the key pension and benefit initiatives we have seen to date.
defined benefit plan
It is no secret that DB plans are too financially risky for individual employers. It is also no secret that, on average, it costs approximately 92% more to provide the same $1 of retirement income under a DC plan than under a DB plan. DB plans are just that much more cost efficient. To provide more satisfactory results, DC plans should take the best features of DB plans.
The three popular articles this week on HRinfodesk deal with the new cannabis smoke-free and road safety legislation, a successful age discrimination case, and a new WSIB self-evaluator.