Daily News Alerts
Joe Hornyak
Former editor of Benefits and Pensions Monitor and founder of Joe Hornyak Communications
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Demand For International Pensions Growing
Demand for international pensions and savings vehicles is continuing to grow as employers try to optimize their benefits packages for different groups within their global workforce, says research by WTW. Its ‘International Pension Plan Survey’ covers 1,023 international pension and savings plans (IPPs and ISPs). It shows 23 per cent of these were set up in the last five years, reflecting the growth in demand. Assets under management have reached US$19.3 billion, up five per cent from the previous year. The research says 51 per cent of the IPPs and ISPs were set up for expatriate workers unable to stay in their ‘home’ country plans, while at the same time either locked out of their ‘host’ country arrangements or likely not entitled to a benefit from any potential ‘host’ plan. Tony Broomhead, managing director, integrated and global solutions, at WTW, says, “Companies are facing skills shortages in many hotspots across the world and are redefining their employee experience and total benefits offer to stay competitive. Many multinationals, charities, and international governmental organizations are looking for ways to offer minimum yet sufficient levels of pensions and savings to their global staff.”
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Constructive Dismissal Claims Need Reasonable Time
An Alberta Court of Appeal decision reaffirms that an employee must decide within a reasonable time period to object to a unilateral reduction in compensation by their employer in order to advance a successful constructive dismissal claim,?says a DLA Piper ‘Communications.’ In Kosteckyj v Paramount Resources Ltd, 2022 ABCA 230, the court found the employer had unilaterally changed an employee’s contract to their detriment by reducing core elements of their compensation. The cost reduction program resulted in the employee receiving a 10 per cent reduction in base salary, suspension of RRSP (registered retirement savings plan) contributions, delay or cancellation of the employee’s bonus, and no further access to seminars or training. Twenty-five days after the cost reduction program was announced, the employer terminated the employee on a without cause basis. The employee brought an action alleging they had been constructively dismissed when the cost reduction program took effect. The employee had continued to work after learning of the changes up until the date of their termination. While the court was unanimous in its holding that the employee had been wrongfully dismissed (rather than constructively dismissed), there was disagreement on the issue of what constitutes a reasonable timeline for an employee to make a decision whether to accept or reject new terms of employment. Their views varied from 10 to 15 days and even not setting a specific time period. The decision provides guidance on what is considered to be a reasonable timeline for an employee to decide whether to accept or object to a reduction in compensation in the context of a constructive dismissal claim. It’s important to bear in mind that unilateral changes to other terms and conditions of employment may afford employees more time to determine whether they wish to accept or object to such changes. To avoid uncertainty, employers may wish to first obtain an employee’s consent in writing before implementing changes to terms and conditions of their employment. Where obtaining consent is not practicable, this decision demonstrates that an employee’s silence (or failure to advance evidence of an objection) may lead to a finding of acquiescence based on the employee continuing to carry out work duties in the normal course.
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