Canada’s pension plan sponsors are focusing on their communications with members, particularly about retirement income adequacy, according to a survey.
Pension litigation has been on the rise for many years. A recent decision of the Nova Scotia Supreme Court provides an important reminder to employers and pension plan administrators about the costs and burdens associated with e-mail communications in the context of such litigation.
It’s a constant question for employers: how do you attract the best and brightest people to your organization—and then hang on to them? Some forward-thinking companies, like Ceridian Canada, have realized that, rather than guessing what employees need, it's better simply to ask.
For group retirement plan sponsors, the formula for getting employees interested in their plans is elusive. Education, promotions, contests—sponsors have tried just about everything to pique interest and increase active participation among plan members.
DC plan sponsors need to step up their support for plan members, suggests Towers Watson’s Retirement Attitudes Survey.
No matter how you slice it, being asked if you’re normal can be disconcerting. But pension plan sponsors seem to have no qualms asking members to declare if they are normal. And provincial pension regulators aren’t shying away from the practice either.
Considering the importance of communication as a performance driver for employee engagement, plan sponsors with culturally diverse workplaces should give special consideration to the language they use to communicate with their plan members.
Everybody likes money, and everyone likes a good story. This should be welcome news, considering the alarming level of financial ignorance among DC plan members and our obvious inability to address and engage a captive audience in clear need of financial education.
Don’t reject tried-and-true benefits communication methods in exchange for exclusive use of the latest technology. DuPont Canada hasn’t. The global science company relies on good old-fashioned mail and a phone hotline—in addition to more modern online processes—to ensure that its retirees have all the information they need to make their annual benefits choices.
A recent study from the Montreal-based Centre for Interuniversity Research and Analysis on Organizations found that those who use outside financial planning advice see their assets grow over time by 1.58 to 2.73 times more than those who act alone. An estimated 10 million Canadians use the help of professionals working at financial institutions, brokerage […]