Last year, a benefits plan member in British Columbia was shocked when his insurance provider rejected an orthotics claim because the prescriber was a nurse practitioner rather than a “physician.” In the story, reported by the Victoria, B.C.-based Times Colonist, the chief executive officer of Nurses and Nurse Practitioners of B.C. said it wasn’t the […]
I’m sitting down to write this on the hottest day so far in 2023. Environment Canada has issued a multi-day heat warning in my region — today, it’s 31 degrees Celsius but feels closer to 40, the humidity is 70 per cent, pressure is 101.3 kilopascal and the UV index is seven. This is the […]
With Canadians’ financial priorities shifting alongside a turbulent economic climate, including inflation levels not seen in decades and a never-ending rise in the cost of living, it isn’t surprising capital accumulation plan members’ commitment to retirement savings is taking a hit. Benefits Canada’s 2023 CAP Member Survey found just 41 per cent of respondents rated […]
A new study looking at the implications of scale in defined benefit pension plans found size is key for several trends over time, including investment mandates, asset allocation and cost in returns. The research, ‘Scale Economies, Bargaining Power and Investment Performance: Evidence from Pension Plans‘ was recently awarded first prize in the International Centre for […]
As employers continue to ramp up their focus on diversity, equity and inclusion, Benefits Canada is returning with its sophomore DEI issue. In my editorial at the front of last year’s June issue, I highlighted the overdue and rising attention on DEI in the workplace, but also pointed out the importance of going beyond ideas […]
There’s never a drought of challenges for employers and 2023 is proving no different. Today, they’re facing inflation, labour shortages, competition for hiring, high turnover and employee burnout, to name just a few. That’s why it’s no surprise the ball is firmly in employees’ courts. Alongside the interminable rise in the cost of living and […]
Speaking during the keynote session at Benefits Canada‘s 2023 Defined Contribution Plan Summit, Seth Stephens-Davidowitz, New York Times’ bestselling author and former Google data scientist, told the story of a horse called American Pharoah, who became the first in 37 years to win the Triple Crown. Prior to the big wins, the horse wasn’t anything […]
With group retirement plans aimed at helping members avoid risks and achieve their savings goals, defined contribution plan sponsors are uniquely positioned to step up and take a more active role in managing risk, said Christine van Staden, regional vice-president of group customer and national accounts business development at Canada Life, during Benefits Canada‘s 2023 […]
The traditional aim for the defined contribution pension industry has been helping plan members save for retirement, but as the nature of employment, plan design, investment choice and member engagement evolves, that objective is changing to financial wellness. “The world has changed significantly since the defined contribution business emerged,” said Marc-Antoine Morin, assistant vice-president of […]
While a third of Canadians are very or extremely confident they’ll be able to retire at the age they want to, around 40 per cent are somewhat confident and a fifth say they don’t think they’ll be able to retire at all, according to MFS Investment Management’s 2022 global retirement survey. “Those stats for the […]