While Canada’s financial industry has been successful in helping people accumulate savings during their working lives, the decumulation phase is a lot more complicated. One challenge, in particular, facing capital accumulation plan sponsors and members is an ageing population, said Fraser Stark (pictured, right), president of the longevity retirement platform at Purpose Investments Inc., during […]
While target-date funds are highly prevalent in defined contribution pension plans’ investment portfolios, gaining space as the default of choice, areas of improvement exist in terms of educating plan members about the option. During Benefits Canada‘s 2021 DC Plan Summit, Jessica Sclafani (pictured), director and DC strategist in the investment solutions group at MFS Investment Management, […]
Among all the legal issues facing DC plan sponsors and administrators, questions around contribution errors is top of mind. “The industry has been speaking with [the Department of] Finance Canada on the tax side to see what can be done to help support us in fixing these errors,” said Susan Nickerson (pictured, left), a partner […]
If I’ve learned one thing about the Canadian pension industry over the past six years, it’s that change comes at a snail’s pace. When I joined Benefits Canada in 2015, my Canadian pension knowledge was a blank slate, so I spent several weeks speaking to pension experts. The key message that came across was this: […]
An evolving program that’s holistically supporting employees during the coronavirus pandemic led to LifeLabs’ win for its mental-health program at the 2021 Workplace Benefits Awards on Oct. 14. Within the organization’s wellness program, which was launched in 2019, the emotional pillar includes: a separate annual maximum for mental-health practitioners through its flexible benefits plan; an expanded […]
Refreshing and re-communicating its mental-health program during the coronavirus pandemic led to 3M Canada’s win at the 2021 Workplace Benefits Awards on Oct. 14. Back in 2013, the manufacturing company began a journey to “empower employees to refresh, re-energize and feel well,” according to its award entry. However, while the wellness program was effective, the […]
With the Delta variant leading the coronavirus pandemic in a renewed surge, employers continue to have a surplus of challenges, regardless of whether or not they’re planning a return to the workplace. I discussed this latter challenge in my Editorial last month, but at the risk of heaping on more doom and gloom, it may […]
With restrictions gradually lifting across the country this summer, employers started to turn their attention to their return to the workplace plans. Now, the fourth wave is underway and uncertainty continues to hang around us like a heavy, dust-covered curtain. But it’s time to clean up, move forward and set out plans for the big […]
On the eve of her retirement after more than 30 years in the pension industry, the SPP’s former executive director talks women in pensions, decumulation and learning to play the ukelele. Q. How did you get into the pension industry? A. This was a bit of luck on my part. The Saskatchewan Pension Plan was […]
Last year, Benefits Canada hosted its 2020 CAP Member Survey webinar just a few weeks after the World Health Organization declared the global coronavirus pandemic. It was early days and, as uncertain as we all felt, I don’t think anyone expected we’d still be working from home and struggling through the crisis almost a year […]