A fifth (19 per cent) of U.S. employees say they’ve adjusted their retirement strategy and are taking a more conservative savings approach amid economic uncertainty, according to a new report by Fidelity Investments Inc. It found the total savings rate for the second quarter of 2022 continued the positive momentum achieved in the first quarter, […]
The uniting theme at the 2022 Defined Contribution Plan Summit was financial wellness, a chief concern for any employer that offers a pension plan to its workforce. In particular, with inflation reaching its highest level in four decades and people facing several competing financial priorities, including simple day-to-day expenses, plan sponsors are bringing flexibility to […]
While the latest stage of the coronavirus pandemic is heralding a gradual return to relative calm, plan sponsors are stepping out of the frying pan and into the fire. The pandemic accelerated the ongoing evolution in the relationship between plan sponsors and plan members, with employees now looking to their employers to help them manage […]
The 2022 Defined Contribution Plan Summit, which was hosted in Victoria, B.C. on May 11-13, featured several case studies from innovative DC plan sponsors, as well as presentations by thought leaders to help employers embrace their employees’ evolving financial priorities and prepare for the future. Across the two-day event, the themes included: rethinking retirement in […]
In the wake of the coronavirus pandemic, five major stressors are impacting Canadians’ overall well-being, with four of these related to finances: the knowledge gap, financial stress at home and work, retirement and basic needs, said Margaret Adaniel, head of retirement marketing at Manulife Investment Management, during a session at Benefits Canada‘s 2022 DC Plan […]
Dynamic pension pools can have a significant and positive impact on retirement outcomes if they’re supported by the appropriate legislative changes, said Barbara Sanders, associate professor in statistics and actuarial science at Simon Fraser University, during a session at Benefits Canada‘s 2022 DC Plan Summit. The University of British Columbia has a dynamic pension pool […]
When it comes to educating women about retirement and their finances, the needle hasn’t moved enough in the past few decades because the language being used by the industry isn’t connecting to what’s really going on, said Jenine Garrelick, senior managing director at MFS Fund Distributors Inc., during a session at Benefits Canada‘s 2022 DC […]
While many organizations have launched a sustainability strategy, Sun Life Financial Inc.’s strategy is anchored in three fundamental principles: financial security, sustainable investing and living healthier lives, according to Eric Monteiro, the insurer’s senior vice-president in group retirement, during a panel discussion at Benefits Canada‘s 2022 DC Plan Summit. Three-quarters (78 per cent) of pension […]
An open dialogue about diversity, equity and inclusion is vital for raising the resilience and overall wealth of pension plan members, said Ryan Weiss, vice-president of group customer national accounts at Canada Life, during a session at Benefits Canada‘s 2022 DC Plan Summit. Also speaking during the session, Elisha Ribeiro, the insurer’s national sales director […]
The union representing nearly 800 employees at Calgary and Vancouver airports has ratified a first contract that includes retirement and benefits gains. The contract cements the continuation of the airline’s employee savings plan, which permits contributions to either a cash savings plan, a group registered retirement savings plan or a group tax-free savings account. Employee contributions […]