Faced with growing pension risks, do target benefit plans offer security for sponsors?
Benefits Canada’s 2014 Mental Health Summit explores how employers can address these issues in a proactive, holistic way
Employees still continue to suffer from mental illnesses. And the latest stats prove it.
Ed Lee, James Wells and Sharon Vanderweff have joined Mercer Canada's Vancouver office.
Are target-benefit plans (TBPs) a cost-effective and risk-reducing alternative for pension plan sponsors versus traditional DB plan and DC plans? And, as importantly, are we seeing an uptake in these plans across the country?
Discussions about pension plan de-risking tend to focus on minimizing—or at least managing—financial risk for DB pension plan sponsors. Across the spectrum of pension risk management strategies, plan sponsors often consider a DC plan to be a low-risk, or no-risk, solution, particularly if they previously provided a DB plan. In fact, when DB plan sponsors talk of de-risking, that is often “code” for converting their plan to a DC arrangement. DC plans certainly mitigate plan sponsor financial risk: there is little danger of having to make higher sponsor contributions to account for market volatility or increased longevity, as is possible in the case of a DB plan.
Here's a review of people on the move in November.
At the best of times, making changes to a DB pension plan is a task, as sponsors try to balance business constraints with funding and risk concerns. But throw a union into the mix and the process becomes even more difficult.
On Wednesday, 175 attendees gathered at the Fairmont Royal York Hotel in Toronto for Benefits Canada’s 2014 Mental Health Summit. This year’s theme was The Many Faces of Mental Health, exploring different perspectives—including the employer, the manager and the employee—on mental health issues.
Simon Campagnoli has joined Xerox HR Consulting as its new Quebec market leader and director of retirement services.