If you’re already losing sleep over potential legal challenges from the members of your DC pension plan, here’s another item to add to the sobering list of reasons to be concerned—fee disclosure. Plan sponsors are required to provide members with a description of the fees they pay. That’s been the case since 2005 when the […]
Procrastination, confusion and a harried lifestyle are all causes of plan member inertia. DC pension plan providers continue to look for ways to break through inertia and help members reach long-term financial security. We’re not asking them to go to financial boot camp. We’re asking them to fill out a form, join a plan, contribute, […]
With DC plans, getting the message out is rarely the problem. With email, printed communications and the exploding realm of social media, it’s easy to broadcast messages to members. But getting members to listen, take action and understand the “what” and “why” of the communication can often be a challenge. One reason is that when […]
A new report from State Street Corp has found that current financial services tools and investing technology only provides investors with a glimpse in the rearview mirror. What they need is something that that will help them with the future. The study, entitled The Evolving Role of Technology in Financial Services, looks at the impact […]
Every year, the pension industry conducts research that measures how engaged participants are in their retirement plans. Despite tremendous efforts by plan sponsors to educate their employees, participation and contribution rates remain unchanged. What are we missing? How do we get employees to take the medicine that’s actually good for them? The missing element may […]
A lack of communication and transparency with stakeholders and employees have been found to be the biggest mistake companies make during a corporate or operational crisis, according to a survey jointly released today by the Canadian Investor Relations Institute (CIRI) and Fleishman-Hillard Inc. The survey, which polled financial analysts and investor relations officers (IROs) across […]
Statistics are a funny thing. They can be twisted and turned and manipulated to support or refute nearly any question. But they serve an important purpose and often shed light on important topics that may otherwise not get the attention they deserve. Case in point is the last Benefits Canada Survey of Capital Accumulation Plan […]
Great-West Life has introduced a customizable new member home page for GRS Access, the company’s secure, transactional website. The enhancements allow plan members to personalize the information they see on the GRS Access home page. Members decide what information they want to display. They can get a quick picture of their investment portfolio balance, both […]
Canadian plan sponsors, administrators and providers give clear communication and plain language around benefits, pensions and other HR programs lip service, but few make any serious effort to put the principles of plain language into practice. Even fewer have formal quality assurance processes to monitor their application. In fact, in a world in which plan […]
Sun Life Financial has developed one of the first apps for RIM’s coming-soon PlayBook tablet. The app is designed to reduce paperwork by going wireless and increase enrollment in corporate pension plans. Thomas Reid, Sun Life’s senior vice-president of group retirement services, was reported in the Globe and Mail as saying “it’s the first app […]