Sick Day? Parental Leave? Retirement? What Employers Need to Know

Sick Day? Parental Leave? Retirement? What Employers Need to Know

Payroll is rarely straightforward; practitioners who administer payroll are consistently responsible for managing employees’ pay that falls outside the norm of the payroll cycle. Special payments cover a whole host of payment exceptions including employee bonuses, severance pay, workers’ compensation top-ups, and death and retirement benefits, to name a few. Also included are payments that cover employees when they’re away from the office for planned or un-planned absences like vacation, sickness and parental leave.

How can employers help payroll and HR manage the volume and complexity of special payments? By encouraging payroll and HR practitioners to undertake ongoing professional development, employers can be assured that their staff will have the knowledge, tools and resources needed to confidently handle special payments and properly administer the Record of Employment (ROE) on behalf of employees. The Canadian Payroll Association’s Special Payments & Completing the ROE seminar, offered across Canada throughout the year, arms payroll and HR practitioners with the knowledge to understand what special payments are and when they apply, provides a thorough block-by-block walkthrough of the ROE, and supplies an ROE Checklist to enable practitioners to confidently and correctly administer the form.

Payroll Implications for Special Payment Situations

When it comes to special payments, every organization is unique. The administration of special payments within an organization will depend on numerous factors including federal and provincial legislation, employer procedure and policy, and employee behavior and circumstances.

Is an employee retiring and eligible for a retiring allowance? Did an employee exceed expectations and is now eligible for a bonus or commissions? Is a staff member taking parental leave and will they receive a special top-up payment under company policy? Knowing how to handle these special payments and the ROE is crucial.

Navigating so many factors relies on cooperation and knowledge-sharing between management, human resources and payroll. In many smaller organizations, where the HR and payroll function are handled by a single party, practitioners must consider the implications of special payments from a payroll perspective while managing the employee’s ROE. For industries with high-turnover environments, such as retail or hospitality, managing the ROE and affiliated special payments are a major responsibility for both HR and payroll. Ultimately, it is important for employers to acknowledge the complexity behind special payments to more fully understand what entitlements may affect your employees or your bottom line.

Record of Employment Doesn’t Have to Be a Pain

Because the ROE is a mandatory form required by the government after an employee experiences an interruption of earnings, payroll and HR practitioners must properly navigate the complexity of the ROE form to ensure that they are remaining compliant. Practitioners are legislatively required to issue the ROE five days after the employee’s final pay period. The Government of Canada states that the ROE is “the single most important document used by employees in establishing a claim for Employment Insurance (EI) benefits.”  Despite the importance placed on this form, the Canadian Payroll Association’s 2014 Member Census revealed that the ROE remains a pain point for many payroll practitioners who are struggling to keep abreast of changing and complex federal and provincial legislation and growing workload demands.

“Employers should be aware how the changing regulatory landscape and changing employee circumstances place operational challenges on payroll and HR pertaining to special payments and the ROE,” said Janet Spence, Manager of Compliance Services and Programs at the Canadian Payroll Association. “It is in the best interest of employers to encourage their payroll and HR staff to continue their professional development on these topics to ensure ongoing compliance.”

The CPA’s Special Payments & Completing the ROE seminar is one of more than 20 different topics covered by the Association’sProfessional Development Seminars. These seminars, available across Canada for members and non-members in payroll, accounting, finance and human resources, provide vital knowledge to support payroll compliance. For a complete listing of seminar dates and for more information on the Canadian Payroll Association’s Professional Development Seminars, Certification Programs and Benefits of Membership, visit payroll.ca / paie.ca.

About the Canadian Payroll Association:
Canada’s 1.5 million employers rely on payroll practitioners to ensure the timely and accurate annual payment of $901 billion in wages and taxable benefits, $305 billion in statutory remittances to the federal and provincial governments, and $169 billion in health and retirement benefits, while complying with more than 200 federal and provincial regulatory requirements. Since 1978, the Canadian Payroll Association has annually influenced the payroll compliance practices and processes of over 500,000 organizational payrolls. As the authoritative source of Canadian payroll compliance knowledge, the Canadian Payroll Association promotes payroll compliance through education and advocacy.

SOURCE Canadian Payroll Association

Two New Directors Join the Industrial Alliance Board

Two new directors were elected to the Industrial Alliance Insurance and Financial Services Inc. board of directors during the company’s annual meeting held today at the Quebec City Convention Centre. They are Agathe Côté and Louis Têtu.

Agathe Côté was Deputy Governor of the Bank of Canada from July 2010 until her retirement in January 2016. As a member of the Governing Council, she shared responsibility for decisions with respect to monetary policy and financial system stability, and for setting the institution’s strategic direction. An economist by training, Ms. Côté had previously held a series of management positions with the Bank of Canada.

Louis Têtu is president, chief executive officer and a member of the board of directors of Coveo Solutions Inc., an intelligent search applications company. He co-founded Taleo Corporation, which was acquired by Oracle in 2012, and held the position of chief executive officer and chairman of the board of directors from the company’s inception in 1999 through 2007. Mr. Têtu also served on the board of directors of l’Entraide Assurance‑vie, a mutual insurance company, from 1998 to 2009, when it was acquired by Union Life, a mutual insurance company.

At the same time, L.G. Serge Gadbois and Jim Pantelidis will be stepping down in accordance with the company’s retirement age policy for board members.

Industrial Alliance’s board of directors is chaired by John LeBoutillier and is made up of 14 members. Its composition is as follows:

  • Shareholders’ directors: Jocelyne Bourgon, Pierre Brodeur, Yvon Charest, Denyse Chicoyne, Michael Hanley, John LeBoutillier,Jacques Martin, Francis P. McGuire and Mary C. Ritchie
  • Policyholders’ directors: Robert Coallier, Agathe Côté, Claude Lamoureux, Danielle G. Morin and Louis Têtu

The proportion of women directors on the Industrial Alliance board has been greater than 20% for many years. Currently, women account for 36% of the board’s membership.

About iA Financial Group
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and among the largest publicly traded companies in the country. iA Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.

 

SOURCE Industrial Alliance Insurance and Financial Services Inc.

First West Credit Union Lauded for Innovation and Developing Young Leaders by Credit Union Central of Canada

LANGLEY, BRITISH COLUMBIA–(Marketwired – May 5, 2016) – First West Credit Union was recognized with two National Credit Union Awards at the industry’s national conference in Saskatoon, Saskatchewan. These awards acknowledge credit unions that exemplify the true nature of the cooperative spirit, highlight fresh and innovative programs and solutions that emphasize local economic initiatives that help to elevate the effectiveness of credit unions, and the ambitions of young leaders nationwide.

Tara Vanden Pol, who works as a lending expert with Valley First, a division of First West Credit Union, was named by the Canadian Credit Union Association (CCUA) as one of five finalists for the National Credit Union Young Leaders Award. Recognizing young leaders 35 years of age or younger, this award shines a light on some of the best and brightest young leaders across the country and showcases their accomplishments in advancing Canada’s credit union system.

Secondly, First West’s DASHBAND, a new and innovative wearable payment technology that enables consumers to pay for products and services with a simple tap of their wrist at any contactless payment point-of-sale systems, was awarded with the National Credit Union Innovation Award. The award honours and recognizes credit unions that demonstrate and encourage the development of ideas and innovations in technology, process, cost savings and member services. Designed as a durable and sporty wrist band with an embedded pre-paid reloadable Visa chip card, the DASHBAND was conceptualized by the First West team and designed in partnership with DC Payments and Visa.

“As we continue to face increased competition and challenges in our industry, I’m really proud of the way the First West team has been able to consistently contribute new ideas and processes that put our members first and deliver exceptional value to our organization,” shares First West Credit Union’s CEO Launi Skinner. “We’re really proud to receive both these prestigious awards that recognize our focus and commitment to developing our young leaders and supporting their growth and our ongoing quest for innovation that enable us to bring new products and services to make a meaningful difference in the lives of our members. ”

Notably, First West has been recognized many times for its commitment to innovation and development of young leaders. As one of this year’s finalists, Vanden Pol joins a long list of First West employees who have also been named as a recipient of the National Credit Union Young Leader award. More information about the Credit Union Central of Canada’s national awards can be found here.

About First West Credit Union

First West Credit Union offers members the financial strength, comprehensive product selection and extended branch network of a large financial institution while maintaining local brand identities and a unique grassroots approach to service. Led by Launi Skinner, First West is British Columbia’s third-largest credit union with nearly $11 billion in assets under administration, close to 250,000 members and more than 1,700 employees. It operates 54 branches throughout the province under the Envision Financial, Valley First, Enderby & District Financial and Island Savings divisions. Visit firstwestcu.ca for more information.

Follow us on Twitter @firstwestcu

Contact:
Media Contact
Cheryl Shaw
Manager, Public Relations & Communications
604.539.7360
cshaw@firstwestcu.ca

iA Financial Group donates $50,000 to the Canadian Red Cross to help victims of the Alberta wildfires

iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.) has donated$50,000 to the Canadian Red Cross Alberta Fires Emergency Appeal relief fund to assist the people of Alberta affected by the wildfires.

The employees of iA Financial Group and its subsidiary companies, together with their distribution partners, wish to offer their full support to the residents of Alberta who have been forced out of their homes because of the wildfires.

About iA Financial Group
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups. It is one of the four largest life and health insurance companies in Canada and among the largest publicly traded companies in the country. iA Financial Group stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.

SOURCE Industrial Alliance Insurance and Financial Services Inc.

For further information: Pierre Picard, Manager, Public Relations, Phone: 418-684-5000, ext. 1-1660, Email: pierre.picard@ia.ca, Website: www.ia.ca

RELATED LINKS
http://www.inalco.com

Discount Car/Truck Rentals & VIA Rail partnership to expand seamless customer travel experiences with industry leading technology

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Discount Car and Truck Rentals, an official rental car partner of VIA Rail Canada (VIA Rail), will soon be providing even more of VIA Rail’s customers with a seamless travel connection option when they arrive at the train station. Discount Car and Truck Rentals was selected by VIA Rail based on the company’s industry-leading technology that will provide the “last-mile” mobility solution to VIA Rail’s customers.

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QuickCar™ white-blue-and-green branded rental kiosks will be installed at high-traffic VIA Rail stations across the country. Six new locations are being added to those already in operation in Ottawa, Fallowfield, Kingston and London, bringing the total to ten.

“VIA Rail is a well-established Canadian brand that is leading the way in how it thinks about its customers. We are extremely proud to expand our partnership with them and contribute to their vision of exceptional customer experiences,” said Jay Singer, President and CEO, Discount Car and Truck Rentals.

“It is through partnership and innovation that VIA Rail intends to significantly enhance the travel experience of Canadians. Today’s announcement with Discount Car and Truck Rentals demonstrates our shared commitment to providing seamless and simple integration of all modes of transportation and thus, to enrich the overall travel experience,” added Yves Desjardins-Siciliano, President and CEO of VIA Rail.

“This partnership brings together two great Canadian brands that are focused on innovating travel experiences. Our industry-leading 24-hour QuickCarTM car rental service kiosks offer VIA Rail passengers a convenient solution to get them to their final destination no matter what the circumstance or time of day,” adds Al Nanji, Senior Vice President, Operations, Discount Car and Truck Rentals.

Each kiosk is equipped with a credit card reader and driver’s license scanner. Once customers initiate the vehicle rental process, they are quickly connected to a live Discount agent who is trained to guide them through a fast and easy rental process. The live interactive video link lets the customer and agent confirm the rental agreement details, mobilizes the car using a smartphone and gets the customer on the road without delay. Once the rental is processed, customers quickly receive an email with instructions on how to access the rental vehicle from VIA Rail’s parking lot.

Discount’s new system also allows customers to return the rental vehicle using their smartphone or at the kiosk any time they choose – 24 hours a day, seven days a week.

About Discount Car and Truck Rentals
Founded in 1980 and headquartered in Toronto, Discount Car and Truck Rentals is a nationally recognized brand operating off-airport and neighbourhood rental locations in Canada. With over 300 neighbourhood branch offices located within 15 minutes from 90 percent of the Canadian population, Discount is proud to be the largest vehicle rental company in Canada owned by Canadians. Discount is known for renting cars and trucks of all makes and models, from economy cars to luxury brands; and cargo vans to 5-ton trucks. Its commitment to quality and superior customer service is unmatched in the Canadian rental industry. Discount is proud to have originated picking up and dropping off its clients at no extra cost. In 2010, Discount was named one of Canada’s 10 Most Admired Corporate CulturesTM; was a Platinum award winner for 2011 and 2012, and was named one of Canada’s 10 Most Admired Corporate Cultures™ again in 2013. Discount has also won the Consumer’s Choice Award for Business Excellence for 14 consecutive years. For more information about Discount, visit www.discountcar.com.

About VIA Rail Canada
As Canada’s national rail passenger service, VIA Rail Canada (viarail.ca) and its 2,500 employees are mandated to provide safe, efficient and economical passenger transportation service, in both official languages of our country. VIA Rail operates intercity, regional and transcontinental trains linking over 400 communities across Canada, and safely transports nearly four million passengers annually. The Corporation was awarded seven Safety Awards by the Railway Association of Canada over the last eight years. Visit the About Via Rail section on our website at /en/about-via-rail.

SOURCE Discount Car and Truck Rentals

For further information: Media Contacts: Discount Car & Truck Rentals Ltd, Barry Singer, Senior Vice President, Governance and Capital Management, 416-744-0123, bsinger@discountcar.com; VIA Rail Canada, Mariam Diaby, Corporate Communications, 514-871-6010, 1 877 393-8787, media@viarail.ca

Insurance – Genetic Non-Discrimination Act passed by Senate

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