variable benefits – Benefits Canada.com

A look at the Co-operators Group’s new decumulation offering

mdunne — Fri, 19 Nov 2021 13:58:31 +0000

One, as Harry Nillson crooned in his classic breakup song, can feel like the loneliest number. At the end of working life, many retirees with defined contribution pension plans can be left feeling alone and confused — cut off from their plan sponsors and pension administrators and sent out with their savings accounts into the […]

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A look at the investment variables of variable benefits

mschmit — Fri, 18 Sep 2020 04:54:13 +0000

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 […]

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Has coronavirus derailed progress of DC decumulation strategies?

mschmit — Fri, 14 Aug 2020 04:52:20 +0000

For defined contribution plan members who were intending to retire in the first half of 2020, the market crash caused by the coronavirus may have upended those plans. Markets reached a trough in March, followed by some recovery, but with little clarity on what investments will do next, it’s a challenging time for plan members […]

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Helping members to and through retirement at the Saskatchewan Pension Plan

mschmit — Wed, 01 Jul 2020 03:45:00 +0000

The Saskatchewan Pension Plan is improving investment choice for members in the accumulation phase and introducing new options to help them through decumulation as well. Leading up to retirement, SPP members are defaulted into a balanced fund, which has been in place since the plan started in 1986. In 2010, it introduced a short-term fund, […]

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How the Saskatchewan Pension Plan helps members through retirement

mschmit — Fri, 19 Jun 2020 04:54:14 +0000

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What’s next for variable benefits?

mschmit — Thu, 30 Apr 2020 04:32:53 +0000

While the Canadian retirement industry has spent a lot of time focusing on the accumulation stage, the decumulation conversation is much further behind. For defined contribution pension plans, almost all jurisdictions across the country have now passed variable benefits legislation, including Ontario, which began allowing the option on Jan. 1, 2020. However, despite receiving legal […]

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An overview of new DC plan decumulation options

mschmit — Fri, 17 Apr 2020 04:39:41 +0000

From plan members to plan sponsors to providers, everyone in the industry is talking about decumulation. Even governments are getting in on the action. But what will be the effect of the new products? “The options will meet the needs of some employers, but we’re not heading for a revolution just yet,” said Marc-Antoine Morin, […]

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A look at how five DC plan members are approaching decumulation

mschmit — Fri, 20 Mar 2020 04:57:24 +0000

Sometimes, the best way to explore the unknown is by following in the footsteps of someone who’s been there first. When it comes to in-plan decumulation options from a defined contribution pension, whether the plan was grandfathered into existing legislation or is registered in a province that allows the option, many employers — and their […]

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Variable benefits in DC pension plans now allowed in Ontario

mschmit — Tue, 28 Jan 2020 06:15:03 +0000

Defined contribution pension plans in Ontario can now offer variable benefits to their plan members. The provincial government passed a series of regulations under the Pension Benefits Act to allow the accounts, bringing it in line with every other jurisdiction in Canada except for New Brunswick and Newfoundland and Labrador. “The important thing is that […]

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Decumulation options, OCIO among pension trends for 2020

mschmit — Mon, 30 Dec 2019 03:00:27 +0000

The holiday season is a time to reflect on the events of 2019 and how they may affect trends in the year to come. I predict a couple of trends on the pension landscape in 2020: much needed progress on the expansion of decumulation options and the outsourcing of the chief investment officer function. Expansion of […]

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