2024 DC Plan Summit – Benefits Canada.com

Editorial: What a difference four years makes

bwolfe — Fri, 10 May 2024 13:00:23 +0000

Four years ago, as the coronavirus pandemic entered its third month, I unknowingly — and unwittingly — took my first steps towards a new chapter in my career. As a writer for a Canadian travel trade publication, I was suddenly without work as the health crisis brought the global travel industry to a screeching halt. […]

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Coverage of the 2024 DC Plan Summit

bwolfe — Fri, 10 May 2024 12:00:53 +0000

At the 2024 Defined Contribution Plan Summit, which was hosted in Vancouver on Feb. 27-29, attendees learned about the various challenges and solutions for DC plan sponsors across the accumulation and decumulation phases, including how to cater to different generations’ needs and innovative investment and drawdown options, through expert thought leadership and employer case studies […]

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How AI is impacting DC plan members’ financial decisions

bwolfe — Fri, 10 May 2024 12:00:11 +0000

While artificial intelligence may one day be able to remove human bias from financial decision-making, that development remains far in the future, said Lisa Kramer, a professor of finance at the University of Toronto’s Rotman School of Management, during the keynote session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. “Human nature is […]

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How DC plan sponsors can support women’s financial confidence

bwolfe — Fri, 10 May 2024 11:59:20 +0000

While women are increasingly becoming primary income earners, few women manage their own finances as they near retirement, said Elisha Ribeiro, national sales director for integrated and group retirement services at the Canada Life Assurance Co. (pictured right), during a session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. “In our 20s, there […]

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AI can enhance DC pension communication, employee experience

bwolfe — Fri, 10 May 2024 11:58:08 +0000

Employers can leverage artificial intelligence to enhance the employee experience, including improvements to defined contribution pension communication, said John Bradley, director of emerging technologies at Fidelity Investments, during a session at Benefits Canada’s 2024 DC Plan Summit in February. “For a good employee experience to take place, an employee has to feel like the majority […]

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A look at the Australian Retirement Trust’s approach to decumulation

bwolfe — Fri, 10 May 2024 11:57:41 +0000

Inspired by the University of British Columbia’s variable payment lifetime annuity option, the Australian Retirement Trust is taking a similar approach to decumulation, which, in turn, may hold lessons for Canadian defined contribution plan sponsors, said Brnic Van Wyk, the plan’s head of asset and liability management, during a session at Benefits Canada’s 2024 DC […]

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Association of Ontario Midwives Benefits Trust supporting employees with financial literacy, DC plan options

bwolfe — Fri, 10 May 2024 11:56:25 +0000

Financial literacy initiatives and a wide range of capital accumulation plan options are key components in supporting the financial health of midwives, said Nicole Mellin, executive director of the Association of Ontario Midwives Benefits Trust (pictured left), during a session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. The association provides its roughly […]

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Are Canadians retirement ready?

bwolfe — Fri, 10 May 2024 11:55:39 +0000

Manulife Financial Corp.’s latest financial stress survey found two-thirds (64 per cent) of employees aged 55 and younger and 50 per cent of workers aged 55 and older are seeking more financial advice from their employer, said Marc-Antoine Morin, the organization’s assistant vice-president of product development for group retirement solutions, during a session at Benefits […]

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What are the options for implementing real assets in DC plans?

bwolfe — Fri, 10 May 2024 11:54:28 +0000

While real assets are largely absent among the investment options offered by Canadian defined contribution pension plans, they can offer significant long-term benefits to plan members, said Andrew Knox, managing director of Franklin Templeton Investments’ global real assets fund, during a session at Benefits Canada’s 2024 DC Plan Summit in February. “[Defined contribution] investors in […]

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A look at the SPP’s evolving investment, decumulation options

bwolfe — Fri, 10 May 2024 11:53:05 +0000

From its roots as a retirement plan for Saskatchewan farmers, the Saskatchewan Pension Plan has grown over the past four decades to accommodate Canadians from all provinces and walks of life. “It’s really meant to be a social policy need to fill in gaps,” said Shannan Corey, the plan’s executive director, during a session at Benefits […]

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