Moderators: Mazen Shakeel, vice-president of market development, group retirement services; and Jean-François Pelletier, regional vice-president for group retirement services, Quebec, at Sun Life Financial The defined contribution pension plan industry is operating in a shifting economic environment. Expectations related to future returns are falling, and plan members are living longer. Focusing exclusively on improving net returns […]
The Alberta government is bringing excessive salaries for the province’s post-secondary presidents in line with the national average, eliminating perks and setting guidelines for health and retirement benefits under a new compensation framework. Coming in April 15, this is the latest step in the government’s agencies, boards and commissions review, which is aiming to save the government about $33 million […]
Hub International Ltd. has acquired Windsor, Ont.-based retirement and benefits firm the Benefits Company Inc. The deal follows a recent string of acquisitions by Hub International over the past few months, including Burnaby, B.C.-based Pointbreak Consulting Group Ltd.; Kitchener, Ont.-based GMS Insurance Inc.; and Dallas, Texas-based IPS Advisors LLP. “By joining Hub, brokerages have the opportunity to expand as […]
With studies showing high levels of employee stress about their finances that’s translating into lost productivity, absenteeism or health issues, the time is right for financial wellness programs in the workplace. There’s an opportunity for employers to step in and offer much-needed guidance, but they could (and should) be helping workers with far more than the basic advice about […]
With markets showing signs of potential extreme volatility in recent weeks, how can employers address the many questions that arise from pension plan members? When speaking to members, consultants usually emphasize advice on asset allocation based on age and risk tolerance. Many members aren’t honest in their responses, often overstating their tolerance for risk because markets are typically on the rise. […]
Over the past 25 years, Canada’s retirement system has evolved significantly through new funding frameworks and federal and provincial reforms to facilitate innovation in plan design. And with Canadians living and working longer and investment returns predicted to soften, it’s no surprise the pension industry is calling for an update to the Income Tax Act […]
In order to understand how much to save, the starting point should be determining a retirement budget. Not only will such an exercise help employees better plan for the future, it may well give them a greater understanding of and appreciation for their employer-sponsored savings program and improve their financial wellness. More accurate retirement planning Even […]
Providing a defined contribution pension to employees since 1969, Western University is in a unique position to share how the landscape for these plans has evolved over time and how its plan measures success. Louise Koza, the university’s director of total compensation, will discuss past and current issues facing defined contribution plans at a session during the 2018 Benefits and Pension Summit at […]
More than three-quarters (78 per cent) of American employers believe their employees are satisfied with the current benefits offering, but just 52 per cent of employees report being satisfied, according to a survey by business research organization LIMRA. When broken down by generation, the survey, which polled more than 1,000 U.S. employers and 2,500 employees, found generation X employees are […]
Net returns in defined benefit pension plans were higher than net returns in defined contribution plans by an average of 0.46 per cent annually over the last 10 years, according to new research by CEM Benchmarking Inc. That compares to the 1.8 per cent difference the last time the organization compared the performance, for the period […]