In times of increased economic uncertainty, the number of tough financial choices facing the average person seems to rise exponentially. Clashing priorities battle it out: Will the latest paycheque be swallowed by the mortgage, car payments and bills? Can $100 or more be spared each month for an emergency fund? Or to tuck away in […]
In its sophomore year under its new branding, the Employee Savings Survey (previously known as the CAP Member Survey) reflects the changing landscape of workplace savings programs as plan members face competing financial priorities and employers step up to expand their offerings. Going even further, some of this year’s results were broken down into different […]
Workplace financial advice has evolved significantly over the past 15 years, moving from in-plan investment advice to more broad financial planning, said Marc-Antoine Morin, assistant vice-president of group retirement at Manulife, during a session at Benefits Canada’s 2026 Defined Contribution Plan Summit. He traced the evolution to the rise of three factors: target-date funds, which […]
During a recent transition between record keepers, KPMG in Canada focused on keeping communications with employees human and simple, including what to say, when to say it and how to measure confidence. “It wasn’t just a record-keeper change,” said Christine McCloskey-Bruno (pictured right), senior total rewards manager, during a session at Benefits Canada’s 2026 Defined […]
A workforce that’s sprawled across the country is pushing Simon Cabral (pictured centre), former director of global defined contribution plans at Scotiabank, to employ a fully digital approach when communicating with employees. “We have to, we have no choice really to reach our cohorts across the country,” he said during a panel session at Benefits Canada’s […]
KPMG in Canada is aiming to boost plan member engagement with its retirement savings programs with a host of changes, including a refreshed defined contribution plan investment lineup, a new first home savings account, financial education programming, digital tools and switching record keepers. The changes, launched in early October, stemmed from a review of the […]
When Bell Canada was communicating defined contribution plan changes to members in 2024, it turned to artificial intelligence to help personalize its message to all of its 25,000 plan members. The redesign, which aimed to respond to members’ different financial priorities, enhanced the company’s savings options with a first home savings account, a tax-free savings […]
The Association of Canadian Pension Management is recommending a few amendments to the Pension Benefits Standards Act, including the required disclosure to spouses and electronic communications with plan beneficiaries. In a letter to the Department of Finance, the ACPM noted the PBSA currently requires information that’s provided to a plan member or former member — […]
For most of the decade since I joined Benefits Canada, it feels like the pension industry has been moving at a snail’s pace. Don’t get me wrong — I have witnessed many substantial (dare I say, exciting) developments in the industry, each one touted as a potential solution to Canadians’ retirement readiness concerns and increasingly […]
The benefits of artificial intelligence go hand in hand with the many risks, but the pension industry’s requirements around fiduciary responsibility and governance, as well as privacy concerns, add an important layer to these considerations. Genevieve Hayman, senior affiliate researcher in research, advocacy and standards, the CFA Institute Many artificial intelligence risks — which include […]