Benefits October 27, 2011

Chinese Employers Must Include Foreign Workers in Social Security

October 27, 2011 (PLANSPONSOR.com) - Employers of foreign workers in China face marginally higher employment costs following confirmation from the Ministry of Human Resources and Social Security that foreigners must be covered under China’s new social security system.
Reported by

Towers Watson reports that effective October 15, 2011, both employers and employees will have to pay Chinese social security contributions, unless they are covered under a bilateral social security agreement between their home country and China. At present, only South Korea and Germany have concluded agreements with China, although other countries, including the U.S., are reportedly seeking to negotiate agreements.   

Participation of foreign employees in the social security system will increase costs for employers, but due to the cap of social security contribution, the impact is not expected to be significant, according to the consultancy.   

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More details are available at http://www.towerswatson.com/newsletters/global-news-briefs/5678.
Products October 27, 2011

Canadian Asset Manager Introduces Four New ETFs

October 27, 2011 (PLANSPONSOR.com) - BMO Asset Management Inc. has introduced four new funds to BMO's Exchange Traded Fund (ETF) product suite.
Reported by

According to a press release, the new ETFs fulfill a strong market demand for income generating investment products with a range of risk levels. They are designed to meet the needs of investors who are looking for investment products that provide access to potential income in times of market instability.   

A study from BMO, conducted by Leger Marketing, found that almost three-quarters of Canadians want to generate more income from their investments. 

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The following new ETFs begun trading on the Toronto Stock Exchange: 

  • BMO Canadian Dividend ETF (ZDV) – Provides exposure to a yield-weighted portfolio of Canadian dividend-paying stocks; 
  • BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (ZWA) – Provides exposure to the 30 U.S. Blue Chip companies that make up the Dow Jones Industrial Average, while potentially earning call option premiums; 
  • BMO Covered Call Utilities ETF (ZWU) – Allows investors to access a portfolio of widely recognized Canadian utilities companies, which include telecommunications and pipeline companies, while potentially earning call option premiums; and 
  • BMO Low Volatility Canadian Equity ETF (ZLB) – Seeks to provide long term capital growth, with less volatility than the broad market, through exposure to a weighted portfolio of lower beta Canadian stocks. 
Since its inception in June 2009, BMO AM’s ETF offering has grown to 44 funds. For more information on BMO ETFs, visit http://www.etfs.bmo.com.

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