Employers in search of simpler retirement products for their workers are looking to group registered retirement savings plans and deferred profit-sharing plans as a solution, say experts at capital accumulation plan providers. Benefits Canada’s 2017 CAP Suppliers Report shows that the number of plan sponsors offering DPSPs has ballooned by 112 per cent over the past decade, from 3,539 […]
The annual deductible in group benefits plans is a long-standing strategy for sharing costs with employees and encouraging more responsible consumption of benefits. But in the current environment of high-cost prescription drugs and epidemic levels of chronic disease, some industry experts say it’s time to move away from deductibles in favour of other cost-management solutions. […]
The transformation of pension plan design, the presence of five generations in the workforce and an increasing reliance on technology are all hallmarks of an evolving workplace. With each person’s savings journey as bespoke as a tailored suit, how can employers fit capital accumulation plans into their overall financial wellness strategies to ensure employees are […]
For some investors, tradition isn’t cutting it anymore. Rock-bottom interest rates are squeezing fixed-income returns, and the need to diversify through sturdy, lower-risk assets is apparent. While low volatility in equity markets is comforting, how long will it last? “We don’t know when but we’re pretty sure the equity market will correct, maybe severely,” says […]
Decumulation is a clear and significant concern for the sponsors of capital accumulation plans, the results of Benefits Canada’s 2017 CAP Member Survey show. The annual survey found 61 per cent of plan sponsors would be likely to allow their members to leave their assets within their plans after they retire if regulations allowed. Of […]
Sun Life Financial Canada has appointed Jacques Goulet as president, with current president Kevin Dougherty moving into the newly created role of executive vice-president of innovation and partnerships. Goulet joins Sun Life from Mercer, where he was president of health and wealth, and responsible for the organization’s global retirement, health, investment consulting and investment management […]
With the new Alberta dental fee guide taking effect on Jan. 1, 2018, many plan sponsors will likely be taking a look at their benefits plans to consider the impact of the changes on them. The new fee guide provides for an 8.5 per cent cut in suggested prices for 60 common procedures. Most plan sponsors will […]
Looking to rent a two-bedroom apartment in Vancouver? That’ll set you back more than $3,000 a month, according to recent reports. If it’s time to buy, recent figures put the price of the average detached house in the Vancouver area at a cool $1.6 million. Understandably, many people can’t make those prices work, which can […]
More than 2,500 Canadians died from opioid-related overdoses in 2016, according to the Public Health Agency of Canada. The situation is particularly grave in the West. This year, British Columbia alone is on track to see 1,400 deaths due to opioids. The province declared a state of emergency in April 2016, and Alberta followed suit […]
Macroeconomic trends such as longer lives, a lack of access to pensions and retirement supports, a low-growth environment, and persistent lack of financial literacy and trust in financial markets are creating a significant retirement savings gap between what people require in retirement and what they’ve actually saved. This is a global issue. But in Canada alone, […]