plan sponsors – Benefits Canada.com

Top 2021 Money Managers Report: What questions should pension plan sponsors ask in 2022?

bwolfe — Fri, 19 Nov 2021 13:53:15 +0000

In the early days of 2020, no one could have foreseen the social and economic havoc the coronavirus pandemic would wreak on the world. Nearly two years later, as markets and economies continue to recover, Canadian pension plan sponsors are looking to their money managers to help light the way to a brighter financial future. […]

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Plan sponsors, members have differing views of health benefits plans, finds survey

bwolfe — Fri, 29 Oct 2021 13:00:29 +0000

Three-quarters (74 per cent) of plan sponsors described the quality of their health benefits plan as excellent (22 per cent) or good (52 per cent), down from 80 per cent in January 2020, according to the 2021 Benefits Canada Healthcare Survey. It found employers with more than 500 employees were more likely to describe their plan […]

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Possible national pharmacare program has pros, cons for employers: experts

bwolfe — Wed, 18 Aug 2021 13:00:51 +0000

Discussion around implementing a national universal pharmacare strategy is growing louder ahead of next month’s federal election. In its 2019 budget, the federal government said it would work with partners to move forward on a national pharmacare program, including the creation of a new national drug agency and formulary, as well as a national strategy for […]

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CAPSA developing multi-jurisdictional VPLA framework for DC pension plans

bwolfe — Wed, 04 Aug 2021 13:00:25 +0000

The Canadian Association of Pension Supervisory Authorities is developing a framework for defined contribution pension plans to offer variable payment life annuities. In developing the framework, the CAPSA said it will address topics such as plan design and conversion options, as well as member disclosure, spousal consent, plan termination, investment rules and regulatory oversight for […]

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Canada’s pension plan sponsors prioritizing governance, but more work to be done: survey

bwolfe — Tue, 03 Aug 2021 13:00:57 +0000

While the majority of Canadian pension and retirement savings plan sponsors view governance as a top priority, 24 per cent said they haven’t conducted a review of their governance policy in the past three years, according to a new survey by Aon. It found 21 per cent of respondents identified “outdated or inefficient plan governance […]

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FSRA issuing guidance on pension plan administrator responsibilities

bwolfe — Fri, 30 Jul 2021 13:00:38 +0000

The Financial Services Regulatory Authority of Ontario is releasing final interpretation guidance to support the role and responsibilities of pension plan administrators. The guidance, an updated and consolidated version of four previous documents, said the administrator’s role includes responsibility for implementing processes to ensure pension plan risks — such as investment, funding, operational and legal — […]

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More plan sponsors meeting members’ retirement goals in 2021: survey

bwolfe — Thu, 29 Jul 2021 13:00:50 +0000

A majority (72 per cent) of plan sponsors believe their retirement savings plan is meeting its goals this year, up from roughly 66 per cent in 2020, according to a new survey by Fidelity Investments Inc. While 68 per cent said their employees are saving enough for retirement — up from 59 per cent in […]

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New longevity pension fund offers decumulation option for plan sponsors

bwolfe — Mon, 07 Jun 2021 13:00:28 +0000

Purpose Investments Inc. is introducing a new longevity pension fund, which invests 50 per cent in equities and 50 per cent in fixed income. It can be incorporated into a defined contribution plan to provide plan members with an in-plan decumulation option, says Pat Leo, vice-president of retirement solutions at Purpose Investments, noting investors can redeem […]

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2021 BPS coverage: Integrating benefits and pension plans a win-win for employers, employees

bwolfe — Thu, 03 Jun 2021 13:00:46 +0000

By integrating their benefits and pension plans, employers can fulfill their plan objectives while creating a better experience for plan members, said Christine van Staden, regional vice-president of group customer and national accounts at Canada Life Assurance Co., during Benefits Canada’s 2021 Benefits & Pension Summit. “This is a trend we’re seeing more of in […]

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2021 BPS coverage: Drug, disability claims stabilizing but pandemic’s impact lingers

bwolfe — Tue, 25 May 2021 13:05:07 +0000

While the rates of drug and disability claims are returning to their pre-pandemic levels, employers are still contending with the impact of the coronavirus crisis on their benefits plans. Following the declaration of the pandemic in March 2020, there was a subsequent surge in drug claims attributed to medication stockpiling, said Frédéric Leblanc, strategic advisor […]

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