The volatile global conditions of the last four years have culminated in a looming economic downturn, impacting defined contribution pension plan sponsors and members alike. On Oct. 3 at the Omni King Edward Hotel in Toronto, the 2024 DC Investment Forum highlighted the various tools and strategies that can help plan sponsors navigate turbulent economic waters […]
Young Canadian employees are facing a series of headwinds stemming from rising housing costs and decades of inaction by the federal government to support retirement savings, said Paul Kershaw, founder of not-for-profit organization Generation Squeeze and a policy professor at the University of British Columbia, during the keynote session at Benefits Canada’s 2024 Defined Contribution […]
With defined contribution pension plan assets expected to double in the near term and members now using target-date funds at “unprecedented” rates, plan sponsors need to determine which TDFs are the best for their employee population, said Wyatt Lee, portfolio manager and head of target-date strategies for T. Rowe Price Inc., during Benefits Canada’s 2024 […]
The majority of Canadian defined contribution plan members are invested in the appropriate target-date fund vintage and those who are may be better prepared for retirement, according to research by Fidelity Investments. The research, which examined data from Canadian record keepers to understand investors’ savings behaviours in a DC context, found about 70 per cent of […]
Canadian defined contribution plan members’ knowledge of target-date funds is lacking and it may point to a larger issue: the stakes set for member investment knowledge may be too high, hindering engagement efforts, according to a survey by MFS Investment Management. The survey of around 1,000 Canadian DC plan members, including 700 active members and 300 […]
Pension plan members’ primary concerns about their golden years are whether they’ve saved enough money to live their dream retirement, whether those funds will last and whether they’ll be able to leave a legacy for their family. But numerous surveys of Canadians indicate many don’t feel financially literate enough to address those concerns, according to […]
The rapid rise in the cost of living in 2022 and into 2023 underscored the need for target-date funds to not just protect against standard inflation, but inflation shocks as well. The problem that presents is the more inflation protection that’s added into a portfolio, the lower the returns, said Nick Nefouse, managing director, global […]
The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]
Nearly two-thirds (61 per cent) of Canadians say they’re afraid of running out of money in retirement, according to a new survey by the Canada Pension Plan Investment Board. The survey, which polled more than 4,700 Canadian adults, found more than two-thirds (67 per cent) of employees aged 28 to 44 are afraid they’ll run […]
During Financial Literacy Month and throughout the entire year, Desjardins Group is promoting financial literacy by offering employees personalized financial advice, as well as hosting a program geared towards young workers. “Over the last few years, we’ve worked incredibly hard on several initiatives that support the financial empowerment of our [employees and customers],” says Isabelle […]