The Colleges of Applied Arts and Technology pension plan is looking to launch a new defined benefit pension plan that will be available to workplaces in the broader public, private and not-for-profit sectors across Canada. The new plan, called DBplus, is subject to board approval on May 30. The new plan will have a likely […]
More than three-quarters (78 per cent) of North American employees and retirees with pension plans said the availability of those benefits was a major factor in deciding whether to accept a job, according to a new survey by Accenture. Its survey, which polled nearly 3,000 Canadian and U.S. workers, also found that pensions remained a loyalty factor after […]
Most Canadian employers have yet to take action to prepare for the incoming changes to the Canada Pension Plan and Quebec Pension Plan, according to a survey by Aon. The survey found just 17 per cent of the 325 organizations polled have started to make plans to accommodate the changes. More than a third (37 […]
At Benefits Canada’s Defined Contribution Plan Summit in Montreal in February, member engagement and communication were a clear focus of many of the presentations. Case studies presented at the conference provided a number of solutions. Larry Schmidt, director of human resources at U.S.-based Searles Valley Minerals Inc., noted his company used automatic enrolment and escalation […]
Finding ways to leverage the engagement of plan members in order to optimize their experiences, decision-making and outcomes was a recurring theme at Benefits Canada’s Defined Contribution Plan Summit this February. One way to boost outcomes is by considering the growing science of financial attention, according to Jane Henshaw, head of digital research at the […]
While improving a defined contribution pension plan may appear to be simple, ensuring employees fully understand the changes is a crucial part of the exercise, said Ian Baines, head of pensions at Britain’s Nationwide Building Society. Baines told the story of his company’s pension changes at Benefits Canada‘s 2018 Defined Contribution Plan Summit in February. […]
Transitioning to a defined contribution plan from a defined benefit arrangement is hard enough during the best of times. But when the organization is a company like Coca-Cola Ltd., size can be an added complication. “Encouraging employees to take action is not easy,” said Martha Callum, senior director for total rewards at Coca-Cola Refreshments Canada, […]
While saving for retirement is an incredibly long journey, visualizing the entire process is a great way to get to better outcomes, according to Neil Walton, head of investment solutions at Schroder Investment Management Ltd. “Start with the end in mind,” Walton told participants at Benefits Canada’s Defined Contribution Plan Summit. “That means reviewing projected […]
Participants at Benefits Canada’s Defined Contribution Plan Summit spent two days listening to a large roster of speakers offer up solutions on everything from communication tips about plan changes to strategies for allocating members’ assets. So what were some of the key learnings? Janice Holman, defined contribution practice leader at Eckler Ltd., helped sum up some […]
Moderators: Nadia Darwish, vice-president of development, marketing and investment strategy; and Karrina Dusablon, vice-president of business development, client relationship and member experience, at Desjardins Insurance Topic: Balancing a human and digital approach to plan member experiences Augmented reality, big data, robo-advisors and artificial intelligence are playing growing roles in the digital era. By 2020, Canadians […]