It’s never easy telling employees their pension benefits are getting worse, whether that’s because of a merger, a sale or simply a cost-savings measure. But when it happens, employers should consider several tactics to minimize both employee distress and the possibility of a lawsuit. “They need to be aware of potential constructive dismissal [litigation] that could occur if […]
Gaps in coverage persist even as almost two-thirds of employees diagnosed with cancer feel their workplace benefit plan played a significant role in helping them manage their cancer, according to Benefits Canada research. At the 2016 Employers Cancer Care Summit, attendees heard the results of Benefits Canada’s research and looked at how well benefits plans […]
While employers strive to provide the right balance in their total rewards strategies, there’s sometimes a disconnect between what they offer their employees and what staff say they need and want. Employees are asking for more choice and the ability to customize their benefits from both a health and financial perspective. Adding a selection of […]
Plan participants in the United States believe their retirement plans should offer responsible investment options and having these options would favourably affect their attitudes toward the plan and their employers, a Calvert Investments survey finds.
Enhanced offerings to make it easier for employees to save for retirement, combined with the growing U.S. economy, have stimulated employee contribution rates and account balances.
Employees participating in a gamified online program have increased contributions to their workplace savings plan or opened a new product, according to Sun Life Financial.
A report finds that healthcare retirement plan sponsors in the United States are becoming more proactive in their efforts to help employees adequately prepare for retirement.
If DC plan sponsors want employees to become more engaged, they need to influence their behaviour.
"We are trying to solve the wrong problem,” Jacqueline Taggart, associate partner and regional practice leader with Aon Hewitt, told the audience in the Getting It Right: Tailoring Benefits Plan Communications session at Benefits Canada’s Benefits &; Pension Summit in Toronto. She was talking about benefits communications and why so many plan sponsors are struggling to make members care about their plans.
The year 2013 resulted in fantastic news for DC plan members: great returns from most asset classes and increases in interest rates, translating into both larger accumulated savings and better expected retirement income levels—particularly for those planning to purchase a life annuity.