In 2021, the Saskatchewan Healthcare Employees’ Pension Plan set out to gauge just how well-versed its 60,000 members were about their defined benefit pension plan. The SHEPP launched a six-week survey focused on member demographics, their perception and understanding of the plan, expectations, communications preferences and interest in retirement topics. The survey yielded interesting results, […]
With the coronavirus pandemic and rising inflation causing economic uncertainty, capital accumulation plan sponsors are looking for new ways to help their members feel secure and get the most out of their savings plans. Benefits Canada asked CAP sponsors and other industry experts what’s on their wish lists to make these plans more effective and engaging […]
Sun Life Canada is launching a new virtual mental-health coach for plan members that taps into the power of predictive analytics. The virtual coach will launch in the first quarter of 2021, starting with a small number of clients, and after six months, the insurer will slowly bring more organizations on board. The insurer’s goal with the pilot program is […]
Ontario’s pension plan administrators and plan members share the responsibility of maintaining current contact information, according to the Financial Services Regulatory Authority of Ontario’s final guidance on missing plan members. It recommended administrators maintain a records management system and retention schedules that support long-term administration of the pension plan and to exercise care and diligence […]
The Pension Investment Association of Canada is expressing its support for the Financial Services Regulatory Authority of Ontario’s draft guidelines for pension plan sponsors dealing with missing members. In a letter, the PIAC said the draft guidelines would be helpful on a go-forward basis, but also noted plan administrators need more options regarding current missing […]
Defined contribution plan members are contending with volatile equity markets, ultra-low interest rates and the threat of inflation as the country’s economy begins its tentative recovery. In the first half of 2020, equities took an almost round trip, dropping significantly in the first quarter and recovering to the point that most markets are in neutral or positive […]
While it’s likely a small mercy that defined contribution plan members, by and large, didn’t have knee-jerk reactions to recent market turbulence, plan sponsors have been rather quiet as well. Much of this is related to the reality that the people who typically deal with small to mid-size DC plans at their organization are busy with other […]
Health and productivity is affected by a lack of access to care, according to Dr. Hanif Jamal, Canadian medical director at Teledoc Health, during a webinar hosted by Benefits Canada. Referring to a recent survey by the Canadian Medical Association, he noted 73 per cent of Canadians said they believe virtual care will improve access, followed by more […]
On May 21, Benefits Canada hosted a webinar to explore the coronavirus pandemic’s impact on chronic disease in the workplace, as well as how virtual solutions can support employee health through this unprecedented time. All employers are currently facing the same concerns, said Marie-Josée Le Blanc, a partner at Mercer, during the webinar. Pointing to the 2019 […]
Once again, we’re experiencing volatile markets. During these times, it’s common to hear the following statements: It isn’t time to panic. This has happened before. Make sure the pension plan’s asset mix is correct. While these messages may be good advice for individual investors, defined contribution plan sponsors should be considering how to help their employees. Here are […]