Moderators: Mazen Shakeel, vice-president of market development, group retirement services; and Jean-François Pelletier, regional vice-president for group retirement services, Quebec, at Sun Life Financial The defined contribution pension plan industry is operating in a shifting economic environment. Expectations related to future returns are falling, and plan members are living longer. Focusing exclusively on improving net returns […]
For any pension plan administrator looking for guidance around governance responsibilities, look no further than the Canadian Association of Pension Supervisory Authorities’ guideline No. 4. The guideline, which was originally published in 2004, offers a principles-based approach, recognizing there’s no one-size-fits-all solution to governance and leaving implementation up to the plan administrator. The guideline and its accompanying […]
With studies showing high levels of employee stress about their finances that’s translating into lost productivity, absenteeism or health issues, the time is right for financial wellness programs in the workplace. There’s an opportunity for employers to step in and offer much-needed guidance, but they could (and should) be helping workers with far more than the basic advice about […]
Ericsson is adding sleep and nutrition features to its online wellness program to educate employees and motivate changes in behaviour. Its E-Health program, which began in April 2016, is rolling out the new options to coincide with its two-year anniversary. Since its introduction, more than 60 per cent of Canadian and American employees have participated, according […]
With studies suggesting some gaps in financial literacy among millennials, a panel at the 2018 Benefits and Pension Summit will tackle ways of educating and reaching younger plan members. Shannon Lee Simmons, founder of the New School of Finance and a member of the panel at the April 17 event at the Ritz-Carlton Hotel in Toronto, says a lot of […]
Multinational telecommunications company Ericsson is adding a peer-to-peer functionality to its recognition program for employees across Canada and the United States. Previously, the program was only open to managers, who could submit employee recognition in the form of cash awards paid out through employee’s paycheques or points they could redeem through an online marketplace. In June 2017, the company offered […]
To celebrate International World Happiness Day on March 20, Klick Health hosted a number of activities for employees at its Toronto office, including canine visitors from the humane society, a catered lunch and bouncy castles. “Basically, a heightened bit of happiness. We want people to get involved and be engaged with the company,” said David Holmes, the company’s […]
After reviewing, summarizing and translating more than 40 academic studies on cancer in the workplace, Chris Bonnett, principal consultant at H3 Consulting, found no lack of programs to address the issue. “One of the key themes is that nobody needs another cancer program,” he told participants at Benefits Canada’s Employers Cancer Care Summit on Feb. 27 […]
With markets showing signs of potential extreme volatility in recent weeks, how can employers address the many questions that arise from pension plan members? When speaking to members, consultants usually emphasize advice on asset allocation based on age and risk tolerance. Many members aren’t honest in their responses, often overstating their tolerance for risk because markets are typically on the rise. […]
In order to understand how much to save, the starting point should be determining a retirement budget. Not only will such an exercise help employees better plan for the future, it may well give them a greater understanding of and appreciation for their employer-sponsored savings program and improve their financial wellness. More accurate retirement planning Even […]