While educational content is a key component of financial wellness programs, they must also be measurable and embrace technology to help defined contribution plan members move easily from ambition to action, according a new report by the SPARK Institute and Cerulli Associates. The report, which combined feedback from 26 U.S. record keepers representing $5.9 trillion in […]
Does your organization’s mental health or diversity program deserve recognition? Are you leading the way when it comes to drug and benefits plan innovation? Is your company’s pension performance award-worthy? Benefits Canada’s annual Workplace Benefits Awards is officially open for nominations. Submit your entries here. The 2019 awards will continue to honour the triumphs and […]
With the industry focused on retirement readiness and more defined contribution plan members on glide paths, it’s increasingly important for plan sponsors to choose default investment funds suited to the present and future. Fortunately, these funds have been shifting away from their conservative roots. Money market funds, for instance, were once a common default in […]
In early 2016, Rogers Communications Inc. announced it would be closing its defined benefit plan to new entrants and replacing it with a defined contribution plan. The company offered staff six months to enrol in the DB plan before its closure on July 1, 2016. While it faced several challenges in administering the DB plan, […]
What makes people dishonest? And how can employers understand employees’ decision-making processes to curb dishonest actions? People are good at being creative and rationalizing why it’s OK to cheat in small amounts, said Nina Mazar, behavioural economist and co-founder of BEworks, during the keynote presentation at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in […]
As millennials look to their employers to integrate their career, education and leisure, this creates challenges for the pension industry, said Erica Hall, assistant vice-president of client relations and group retirement solutions at Manulife, speaking at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. “We are very linear — they enrol, accumulate and […]
In a challenging market environment, it’s important to focus on making the most of worst-case scenarios, said Ed Studd, solutions manager for U.S. portfolio solutions at Schroders Investment Management Ltd., speaking at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. While the definition of risk will change over the course of people’s […]
When it comes to retirement, it’s key to focus on the journey, not just getting there, said Jean-Pascal Plamondon, national director of client relationship and investment strategies at Desjardins Insurance. For defined contribution plan sponsors, this means understanding the traditional savings journey is no longer 100 per cent focused on retirement, it’s also focused on […]
While a lot of attention has been paid to “the front end of pension plans,” there hasn’t been enough focus on how that translates into retirement income, said Blair Richards, chief executive officer of the Halifax Port ILA/HEA, during a session at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. “We should […]
In determining which savings options to offer employees, a key component is understanding the workforce and its goals, as well as communicating the offering in a way they can understand, according to a panel on engaging workers in defined contribution pensions at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. Thak Bhola, […]