Meanwhile, volatile pension costs, court battles over surplus and onerous accounting rules drove many companies to do away with their gold-plated defined benefit plans, opting instead for less expensive and less risky defined contribution plans.
As costs for traditional health benefits plans rose, plan sponsors looked to plan design measures—increased deductibles, restricted formularies, co-pays and flex plans—to pass more of the cost to employees.
It was the end of an era. The gold watch took a lickin’ and didn’t keep tickin’.
But nostalgia for the good ol’ days seems to be emerging among a new breed of workers. To mark the 30th anniversary of benefits canada, we surveyed 30-year-olds across the country about their expectations for the workplace, benefits and their pension plan. Contrary to popular perceptions of Generation Y as fickle and restless, it seems they’re actually a lot like the generations that came before.
Our report looks at what the workplaces, pensions and benefits of the future would look like if 30-year-olds had their way.
Fortunately, some employers have already begun responding to the needs of the changing workforce.
For the first time, Benefits Canada is pleased to bring you Canada’s 30 Best Pensions and Benefits Plans, based on employee satisfaction surveys conducted by Hewitt Associates. The report offers a glimpse into what will attract and keep a new generation of skilled employees.
And, by now, you’ve probably noticed that Benefits Canada has a new look. A special thanks to Dave Curcio, a creative director with Rogers Publishing, who did a masterful job with the redesign. And, of course, to our editorial team, Joel Kranc, Elaine Fenech, Leigh Doyle, Brooke Smith and Craig Sebastiano, who put together an outstanding anniversary issue.
Don Bisch is the editor of BENEFITS CANADA. email@example.com
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