With Canada’s workforce in the midst of multiple significant demographic shifts, group benefits plans will need to evolve to meet the changing needs of workers, according to Shelley Sjoberg, assistant vice-president of group product development and support at Canada Life. Speaking during Benefits Canada’s 2024 Healthy Outcomes Conference, she pointed to Statistics Canada data that […]
A significant share of Canadians with diabetes struggle to keep their glucose levels in check, a worrying trend given the growing prevalence of diabetes in the country. Roughly 75 per cent of Canadians who use insulin to manage their diabetes — and 40 per cent of those who don’t — aren’t hitting their glucose targets, […]
Plan sponsors are facing a chronic disease “tsunami” that is leading to higher benefits and drug plan spend and increasing disability claims. But the three root causes of this growing problem — undiagnosed health issues, the availability of primary and preventative health care and challenges navigating the health-care system — are issues plan sponsors are […]
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 […]
Rising food, energy and housing prices aren’t just pocketbook issues for consumers or election fodder for politicians, they’re also social risk factors, indicators of a country’s economic health and highly important to bond investors, said Reina Berlien, head of environmental, social and governance at Brandywine Global Investment Management. While ESG factors may not seem important […]
The Co-operative Superannuation Society Pension Plan is in the middle of a years-long digital transformation that’s aiming to improve member experience. In addition to introducing a modernized and secure member portal, the CSS (No. 2 on the 2024 Top 50 Defined Contribution Plans report) is planning to start leveraging artificial intelligence, says Tami Dove, the […]
The 2024 Benefits Canada Healthcare Survey highlighted the perfect storm plan sponsors are facing: trying to strike the right balance between competitive benefits and plan sustainability. It’s something that resonates with the benefits leads of three major Canadian employers, who said during Benefits Canada’s report launch event that benefits utilization and meeting the needs of a […]
Canadian health benefits plan members are increasingly feeling financially strained, according to the 2024 Benefits Canada Healthcare Survey — a finding that experts say should be a call to action to employers to include more financial wellness supports in benefits plans. Personal finances has remained plan members’ top stressor for the past two years, with […]
Going through a divorce can be an extremely stressful and emotional experience and, unsurprisingly, the impacts can spill into the workplace. “[Employees may be] at work but waiting for that text from the lawyer — they’re distracted on what they’re going to do next in the proceedings,” says Brent Dul, executive vice-president at Randstad Canada. […]