Pension plans recover in Q4
Toronto — Good stock market returns and a slight rebound in long-term federal bond yields in the fourth quarter allowed Canadian pension plans to make up for most of the losses in the second and third quarters of 2010, according to the Mercer Pension Health Index. The index reached 73 per cent on Dec. 31, up five per cent over the quarter but down one per cent on the year. On average, the typical pension plan experienced a return on assets of almost four per cent in the fourth quarter. However, strong asset performance was offset by the overall drop in long-term federal bond yields, said Mercer.
Feds to reduce red tape for business
— A new federal commission will work to reduce the burden of federal regulatory requirements on Canadian organizations, especially small and medium-sized businesses. The Red Tape Reduction Commission, chaired by Minister of State Rob Moore, will consult with individuals and businesses to identify irritants that impede growth, competitiveness and innovation. The commission will also look at the cost associated with federal regulatory requirements that businesses face and provide advice on permanent solutions for reducing the overall compliance burden.