Simplifying your plan for members comes down to educating and engaging them, says Alain Malaket, senior director of pensions and benefits for George Weston Ltd./Loblaw Companies Limited.
“Once they understand the value of the proposition, then it’s that much simpler for them to make a decision,” he says.
“In order to get a meaningful change, it’s got to be an evolution, it has to a process. It’s not simply making a change and getting a positive outcome.”
His organization has taken advantages of features such as auto-increase and auto-enrollment, which, he says, have brought quick success in terms of participation targets and expectations of where they would like members to be in their savings.
Watch the video to find out what else Malaket had to say on the topic.