Meeting plan members’ retirement goals (29 per cent) and managing litigation risk (25 per cent) are the top factors driving defined contribution pension plan sponsor decision-making, according to new research by global investment manager PIMCO. The annual research surveyed nearly 70 defined contribution consultants and advisors providing services to more than 12,000 plan sponsors in […]
The Public Employees Benefits Agency, which administers the pension plan for public sector employees in Saskatchewan, has been looking at how to support members around decumulation for several years. “It’s a big issue. If you think about it, many people in a defined contribution plan go into a default fund and stay there forever. So […]
Unlike the promise by defined benefit plans of a stream of income during retirement, their defined contribution counterparts focus more on the accumulation of assets. And that’s a problem, according to Robert Merton, a professor of finance at the Massachusetts Institute of Technology’s Sloan School of Management. Merton, who spoke at Benefits Canada’s Defined Contribution […]
Defined contribution pension plans in Canada are maturing quickly and becoming more sophisticated. Contributions and plan assets continue to grow, investment options are evolving and many employers are now operating in multigenerational workforces with a wave of employees who are nearing retirement. How plan sponsors can respond to the evolving landscape was a key focus […]
The pension and benefits industry often talks about flexibility and customization of plans, but how many companies are actually changing their offerings to introduce those elements? ATB Financial is one company that’s taking action on the issue following its pension redesign in recent years. “The most relevant strategic driver for reviewing and redesigning our pension […]
While many defined contribution pension plan members have similar objectives around retirement readiness, each person’s journey to reach the goal will be different. During his presentation at Benefits Canada’s Defined Contribution Plan Summit, Shawn Cohen, director of relationship management at MFS Investment Management Canada Ltd., discussed how to incorporate the journey into the investment experience […]
To leave no one behind, defined contribution pension plans must adapt and innovate. That’s the message delivered by Daniel Morris, portfolio solutions manager with Schroder Investment Management Ltd., during his session at Benefits Canada’s 2017 Defined Contribution Plan Summit. A combination of contributions and return on investments determine the end result of plan savings, and […]
Behavioural economic biases, particularly among younger and older defined contribution pension plan members, may influence their investment choices and put retirement outcomes at risk, participants at Benefits Canada’s Defined Contribution Plan Summit heard. But during his presentation at the February event in Vancouver, Tim Choe, quantitative analyst at Fidelity Investments, suggested low-volatility equities as a […]
At Benefits Canada’s 2017 Defined Contribution Plan Summit, Janice Holman, principal at Eckler Ltd., moderated a presentation highlighting unique approaches three different plan sponsors have taken to help their plan members retire successfully: Niagara Casinos, a government-owned but privately operated organization with more than 4,000 employees and more than 400 job classifications, implemented an award-winning […]
As it is in Canada, member engagement is a buzzword for the defined contribution pension plan industry in Australia. But engagement doesn’t go far enough, said John Farrington, executive officer for corporate relationships at the Equip superannuation fund in Australia, during his presentation at Benefits Canada’s 2017 Defined Contribution Plan Summit. “I think engagement is […]