News Briefs

Health premiums rising in B.C.; Canadian firms on M&A prowl; GM abandons U.S. white collar pensions
|Canadian HR Reporter|Last Updated: 03/12/2012

Health premiums rising in B.C.

VICTORIA — Premium rates for the Medical Services Plan (MSP) in British Columbia are increasing on Jan. 1, 2013. Premiums for one single person would rise from $64 per month to $66.50. The maximum for a family of two would increase from $116 per month to $120.50, and for a family of three or more it would increase from $128 to $133.

Canadian firms on M&A prowl

TORONTO — Canadian CEOs are more aggressive than their global counterparts when it comes to mergers and acquisitions. One-quarter are planning to engage in M&As in 2012, compared to a global average of 12 per cent, according to a PwC study of 130 Canadian CEOs. They also have a stronger appetite for joint ventures and strategic alliances than their developed world peers.

GM abandons U.S. white collar pensions

DETROIT — Staring down the barrel of a US$13.3 billion pension deficit for its American workforce, General Motors has abandoned its defined benefit (DB) pension plan for white collar employees. About 19,000 salaried workers in the United States hired before 2001 will be shifted to a defined contribution (DC) pension as of Oct. 1, 2012. Salaried workers hired by GM after Jan. 1, 2001, are already in the DC plan. Retired salaried workers are unaffected by the changes.

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