In preparation for the possibility of sweeping pension reform legislation, Hewitt Associates has formed a Canadian pension reform team aimed at providing expertise on legislative compliance as well as upcoming changes to both federal and provincial pension legislation in a holistic manner.
The team consists of experts from Hewitt’s retirement, legal, research, communication and administration branches who have been involved with various pension reform task forces.
Employers should make sure that their plans are compliant with the new legal requirements, as well as plan administration and employee communication, explains William da Silva, principal and leader of Hewitt’s Canadian retirement consulting practice. It’s also a great excuse to revisit the general plan design to identify opportunities to manage costs and streamline administration.
“Our integrated approach to pension reform will ensure our clients’ retirement plans conform with legal amendments in all applicable jurisdictions quickly and efficiently,” says da Silva. “However, pension reform provides a real opportunity for Canadian organizations to take a good look at their retirement programs and maximize their effectiveness.”
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