While many defined contribution pension plan members have similar objectives around retirement readiness, each person’s journey to reach the goal will be different. During his presentation at Benefits Canada’s Defined Contribution Plan Summit, Shawn Cohen, director of relationship management at MFS Investment Management Canada Ltd., discussed how to incorporate the journey into the investment experience […]
To leave no one behind, defined contribution pension plans must adapt and innovate. That’s the message delivered by Daniel Morris, portfolio solutions manager with Schroder Investment Management Ltd., during his session at Benefits Canada’s 2017 Defined Contribution Plan Summit. A combination of contributions and return on investments determine the end result of plan savings, and […]
Behavioural economic biases, particularly among younger and older defined contribution pension plan members, may influence their investment choices and put retirement outcomes at risk, participants at Benefits Canada’s Defined Contribution Plan Summit heard. But during his presentation at the February event in Vancouver, Tim Choe, quantitative analyst at Fidelity Investments, suggested low-volatility equities as a […]
At Benefits Canada’s 2017 Defined Contribution Plan Summit, Janice Holman, principal at Eckler Ltd., moderated a presentation highlighting unique approaches three different plan sponsors have taken to help their plan members retire successfully: Niagara Casinos, a government-owned but privately operated organization with more than 4,000 employees and more than 400 job classifications, implemented an award-winning […]
As it is in Canada, member engagement is a buzzword for the defined contribution pension plan industry in Australia. But engagement doesn’t go far enough, said John Farrington, executive officer for corporate relationships at the Equip superannuation fund in Australia, during his presentation at Benefits Canada’s 2017 Defined Contribution Plan Summit. “I think engagement is […]
Across the globe, the defined contribution retirement model is in transition on a number of fronts. Jean Young, senior research analyst at the Vanguard Group Inc.’s Centre for Investor Research, spoke at Benefits Canada’s 2017 Defined Contribution Plan Summit about several big issues plan sponsors face as they help prepare their employees for retirement. In […]
Moderators: Nadia Darwish, vice-president of development, marketing and investment strategy; and Karrina Dusablon, national vice-president of business development, client relationship and member experience, at Desjardins Insurance The consensus among participants was that when focusing on retirement readiness, there’s a need for a broader discussion about promoting financial wellness, said Dusablon. “We need to make financial […]
Moderators: Jeremy Evanson, partner, administrative solutions practice; and Michelle Loder, partner, defined contribution solutions, at Morneau Shepell Ltd. Once the new Canada Pension Plan benefits take hold, the income replacement ratio will increase to 33 per cent from 25 per cent, said Loder. “Given this, and in light of the increased premiums that will also […]
Moderators: David Devine, regional vice-president, western region, group retirement services, wealth management; and Christine van Staden, vice-president of national accounts at Great-West Life Most plan sponsors agreed that defined contribution plans traditionally focus on those nearing retirement, said van Staden. “But everyone agreed there is a need to take a step back, rebalance the pendulum […]
Moderators: Mazen Shakeel, vice-president of market development for group retirement services; and Sharon Vanderwerff, regional vice-president, western region, group retirement services, at Sun Life Financial A growing number of people aren’t retiring until their late 60s or early 70s, in many cases because they don’t have the retirement income they need, said Shakeel. “If insufficient […]