Amassing adequate retirement savings is a challenge for individuals trying to plan for retirement.
Helping DC plan members with their retirement planning is difficult but also necessary, says Idan Shlesinger, managing partner, CAP services, with Morneau Shepell Ltd.
For many mid-size plan sponsors, finding ways to keep employees engaged in retirement saving during the years when retirement is not top of mind is one of the primary considerations in plan design.
Planning for retirement brings with it many complex emotions—anxiety, fear, uncertainty—and addressing these emotions is one way DC plan sponsors can help employees better prepare for retirement.
Surgeons are recognized for their precision more so than for their communication skills—and for that reason, there’s a lot we can learn from them about communicating with our employees.
Within Canada and around the world, the conversion of DB plans to DC plans has been accelerating as plan sponsors look to reduce their pension risk.
Blair Richards’ ability to build consensus and lead strong teams has been a driving factor behind the success of the Halifax Port ILA/HEA Pension Plan.
If you want to successfully connect with your DC plan members when explaining changes to the plan, you need to bring everything back to one question: What’s in it for me?
Sponsors of DC and other capital accumulation plans have long struggled to persuade their employees to take full advantage of corporate savings programs and play a more active role in their own retirement readiness.
After Colleen Falco, director of HR services with Niagara Casinos, assumed responsibility for the company’s benefits initiatives in early 2010, she noticed significant gaps in the way employees interacted with the company’s pension plan.