Keyword: Auto features

62 results found
Target-date funds a game changer for plan member outcomes: research

In the U.S., target-date funds in workplace retirement plans have grown from $5 billion in 2000 to $734 billion in 2018, with many benefits for plan members. A new working paper by Olivia Mitchell, a professor at the University of Pennsylvania’s Wharton School, and Stephen Utkus, principal and director of the Vanguard Center for Investor […]

  • By: Staff
  • February 12, 2020 November 12, 2020
  • 15:30
Is more investment choice actually good for DC plan members?

While previous research has indicated that defined contribution pension plan members benefit from a limited number of core investment options because it reduces choice overload, is this still true now that automatic enrolment and default funds are becoming more common? According to new research by Morningstar Inc., more investment options in a DC arrangement could […]

  • By: Staff
  • November 20, 2019 November 30, 2020
  • 09:00
Are automatic DC plan features affecting the pension gender gap?

With cohorts in the workforce behaving differently as they prepare for retirement, it’s important for plan sponsors to consider these differences along gender and generational lines. At Benefits Canada’s 2019 Defined Contribution Investment Forum in Toronto on Sept. 27, Jean Young, senior research associate at the Vanguard Center for Investor Research, shared a survey that […]

As a solution to employee inertia, many plan sponsors with defined contribution arrangements are looking at setting automatic features as their plan’s default option. When the Royal Bank of Canada redesigned its DC plan in 2012, it introduced auto-enrolment for all new plan members following a six-month waiting period. Before the change, employees had a […]

DC plan sponsors urged to stay on top of new features as demographics shift

Defined contribution plan sponsors have to stay aware of plan design developments to improve their benefits offerings for their specific workforces, according to a new report by Callan. As workplace demographics shift, it’s important for plan sponsors to make sure their DC plan features are keeping up with those changes to ensure the benefits they’re providing are most effective […]

  • By: Staff
  • September 3, 2019 November 30, 2020
  • 10:15
U.S. plan sponsors taking proactive steps to boost member retirement success: survey

A disconnect exists between defined contribution plan sponsors’ intentions and actions when it comes to helping employees with financial wellness, according to a new survey by J.P. Morgan Asset Management. Among more than 800 U.S. DC plan sponsors, 74 per cent said they have a very or somewhat high commitment to employees’ fiscal health, although […]

  • By: Staff
  • July 16, 2019 November 30, 2020
  • 08:45
As DC pension plans come of age, enrolment is key

While the process has been slow to date, it’s clear the migration to defined contribution pension plans will continue in Canada. Defined benefit assets comprised about 47 per cent of total financial wealth in 2007, compared to assets in DC plans and other group retirement savings accounts, which made up about 38 per cent, said Colin Ripsman, president […]

Eliminating ‘tyranny of choice’ in DC plan enrolment

Simplifying DC plan enrolment should begin by eliminating the “tyranny of choice,” making it easier for plan members to just get started, according to Tom Reid, senior vice-president of group retirement services at Sun Life Financial. “We’re not saying choice is bad, but at certain moments choice is really not the most welcome thing and […]

Should DC members be saving enough to cover their spouses?

Since just about half of private sector workplaces in the U.S. offer some type of retirement plan, many employees in dual income houses could be failing to account for enough savings for both themselves and their spouses, according to new research by Boston College’s Center for Retirement Research. As a result, the employee with a workplace retirement […]

  • By: Staff
  • March 15, 2019 September 13, 2019
  • 09:03
Editorial: Looking back — and ahead — in an unprecedented year

If there’s one thing Canada’s pension industry can agree on, it’s the work that needs to be done around defined contribution pension plans. In February, on the second morning of Benefits Canada’s DC Plan Summit in Banff, Alta., a roomful of plan sponsors, record-keepers, investment managers and consultants compiled a wish list for DC plans. […]