Benefits Canada is thrilled to announce the winners of the 2020 Workplace Benefits Awards. At a virtual roundtable and awards ceremony on Friday morning, 19 finalists gathered to discuss their leading benefits and pension strategies, followed by winner announcements across seven categories. The following winners — and all of the finalists — represent benefits and pension plans covering more than 280,000 Canadians. These […]
Defined contribution pensions are taking a bumpy ride in the coronavirus pandemic, with plan sponsors and their members facing volatile stock markets, financial uncertainty and interruptions to business as usual. Whether related to plan design, investment options, decumulation or overall financial well-being and education, what issues are taking the spotlight this year and what changes […]
The Pension Investment Association of Canada is expressing its support for the Financial Services Regulatory Authority of Ontario’s draft guidelines for pension plan sponsors dealing with missing members. In a letter, the PIAC said the draft guidelines would be helpful on a go-forward basis, but also noted plan administrators need more options regarding current missing […]
The coronavirus pandemic is highlighting many trends in group retirement and investment programs, pushing the industry to be flexible and quick with some of the newer offerings. As plan sponsors review their group retirement plans in the coming months, they may want to consider some, or all, of these four trends. 1. Financial wellness becoming a must. […]
Retirement income can be sliced into three broad categories: what an individual receives from their employer, what they receive from the government and everything else. While plan sponsors are naturally most concerned with what they provide for plan members, including all forms of income in the conversation is integral to properly planning for retirement, says […]
Since retirees and active plan members are fundamentally different, should their investment options reflect that distinction? That’s the question confronting defined contribution plan sponsors as they explore the relatively new world of in-plan decumulation. As of January, when the Ontario government passed a series of new regulations under the Pension Benefits Act, the majority of […]
The Financial Services Regulatory Authority is seeking stakeholder input on draft guidance on providing consent for asset transfer transactions under the Pension Benefits Act. Aiming to support predictability and transparency for defined benefit plan administrators, sponsors and members and to protect of the rights of members, the guidance sets out how the FSRA will exercise its discretion and […]
In considering changes to its retirement savings programs, Rogers Communications Inc. is generally focused on three main internal and external factors: regulatory changes, employee feedback and demographics. “As we see the millennial and gen Z workforce grow quite a bit, we’re really trying to understand what that’s going to do to our plans in terms […]
An employer’s matching contribution is the most influential factor motivating plan members to begin saving for retirement, according to a new report by Cerulli Associates. The report, which polled U.S. employees saving into a 401(k), found 46 per cent of respondents said they starting saving for retirement because their organization offered a matching contribution, while […]
How long is your attention span? Be honest and think back to the last time you received an email about your employee benefits and didn’t tune out just a little bit. Now think about your intended audience and where their heads are at these days. The reality is, most people now have an attention span […]