MHR 749 Lecture Notes - Lecture 8: Pension, Unemployment Benefits, Life Insurance

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Cost effectiveness of benefits (cid:373)ost (cid:271)e(cid:374)efits are(cid:374)"t taxed. Employee benefits positives: attract, childcare benefits female employees. Flexible work schedule: unions have fought for the intro of new benefits + the improvement of old ones, life insurance, etc, government impetus (cid:449)orkers" (cid:272)o(cid:373)pe(cid:374)satio(cid:374), ei, Cpp/qpp: retain, pensions decision by employees to stay or leave, work life balance benefits, motivate, employee well being. Key issues in benefits planning, design, and administration. Motivate people: withi(cid:374) those o(cid:271)je(cid:272)ti(cid:448)es, you"re segregati(cid:374)g your e(cid:373)ployees. Employers (cid:272)o(cid:373)petitors" (cid:271)e(cid:374)efits, fi(cid:374)a(cid:374)(cid:272)ial positio(cid:374) of the orga(cid:374)izatio(cid:374), etc. Financing benefits plans: alternatives: non-contributory, employer pays total costs, contributory, costs shared between employer and employee, employee-financed, employee pays total costs for some benefits. Employment insurance: a mandatory government- sponsored plan for all employed canadians that provides workers with temporary income replacement as a result of employment interruptions due to circumstances beyond their control. Funded by employer and employee contributions: basic benefit is 55 percent of average insurable earnings.

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