cybersecurity – Benefits Canada.com

2024 Group Benefits Providers Report: Leveraging AI to streamline benefits

Sadie Janes — Fri, 12 Apr 2024 12:57:54 +0000

While there’s multiple opportunities for the use of artificial intelligence in the employee benefits space — including making the claims process more efficient and personalizing the plan member experience — one of the biggest advantages of the technology is the ability to streamline administrative tasks, allowing employees to focus on more value-added work in addition […]

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Manitoba government could boost security for remote work: Auditor General

lbailey — Thu, 14 Mar 2024 13:00:27 +0000

Manitoba’s auditor general says the provincial government has introduced information technology security measures to help employees work from home, but some improvements are needed. Tyson Shtykalo examined information technology systems after government employees began to work remotely during the coronavirus pandemic. His 23-page report says the province uses encryption to protect data, but some settings […]

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Sounding Board: How pension IT risk management guidance will impact plan sponsors

bwolfe — Thu, 29 Feb 2024 14:00:09 +0000

Information technology risk has become a more prevalent concern in recent years, so it comes as no surprise that Canadian pension regulators are focused on ensuring that plan administrators manage this risk effectively. IT risk is associated with an entity’s IT infrastructure as a whole, including risk caused by error or malfunction, as well as […]

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ACPM focusing on VPLA policy, ESG investment standards in 2024

bmcgovern — Wed, 31 Jan 2024 14:00:23 +0000

In the coming year, the Association of Canadian Pension Management is looking forward to the possibility of participating in final consultations on policies and legislation determining variable payment life annuities, says Todd Saulnier, a principal at Mercer and president of the ACPM board. The 2023 federal budget proposed amendments to the Pension Benefits Standards Act, 1985 […]

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Coverage of the 2023 Defined Benefit Investment Forum

bwolfe — Wed, 24 Jan 2024 13:00:16 +0000

On Dec. 6, the Canadian Investment Review hosted its annual Defined Benefit Investment Forum. With the close of a year marred by financial fragility and global discontent, leaders from Canada’s defined benefit pension plan sponsor community gathered to shed light on the challenging economic landscape of 2023 and make informed predictions about the hurdles and opportunities ahead. Here’s what […]

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2023 Defined Benefit Investment Forum: How policy-makers, plan sponsors can manage, mitigate cybersecurity risks

bmcgovern — Wed, 24 Jan 2024 12:54:05 +0000

Pension plan sponsors must effectively employ care, diligence and skill when facing cybersecurity threats, said Sandeep Kakan, board trustee and secretary at the Canada-Wide Industrial Pension Plan, during a session at the Canadian Investment Review’s 2023 Defined Benefit Investment Forum in December. Cybersecurity concerns are rising in the aftermath of the MOVEit hack, which compromised […]

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68% of global employers view talent attraction, economic growth uncertainty as business threats: survey

lbailey — Fri, 19 Jan 2024 14:00:13 +0000

More than two-thirds of global employers view the lack of key talent and uncertain economic growth (68 per cent for both) as the top threats to their businesses, according to a survey by Russell Reynolds Associates. The survey, which polled more than 2,500 global board directors, C-suite leaders and next-generation leaders, found 62 per cent of […]

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Pension plan sponsors more vigilant of cybersecurity risks when dealing with third-party vendors: expert

bmcgovern — Thu, 11 Jan 2024 14:00:21 +0000

Data management and transference is a key area of risk for pension plan sponsors as the vulnerability of engaging with third parties creates opportunities for cybercriminals, says Jillian Kennedy, a partner at Mercer. According to an online brief published last year by Ernst & Young, third-party service providers hired by public pension plan sponsors tend to […]

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AI holds uncapped potential for pension plan sponsors’ administration, communications: expert

bmcgovern — Tue, 09 Jan 2024 14:00:38 +0000

While pension plan sponsors are still in the early days of exploring how artificial intelligence solutions could help automate maintenance tasks, they’re exploring the various functionalities they can automate from a member service standpoint, says Akio Tagawa, president and chief executive officer at consultancy Linea Solutions. He’s seen increased interest from plan sponsors in evaluating how […]

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Expert panel: What does 2024 hold in store for the pension industry?

bwolfe — Thu, 04 Jan 2024 14:00:20 +0000

With the arrival of the new year, there are three topics that will be important for pension plan sponsors, members and other industry stakeholders in 2024. The economy and financial markets At the end of 2023, the Canadian economy and the financial markets were still feeling the after-effects of the coronavirus pandemic. Read: Expert panel: […]

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