Over the past decade, defined benefit (DB) pension investment has changed dramatically in nearly every way but one—plan governance still means trustees are responsible for making final decisions about what’s best for the future of the plan. But being a pension trustee today sure is different than it was back when plans were mostly built […]
As a plan sponsor, you have likely lived through at least one request for proposal (RFP) process—for payroll, insurance services, actuarial or benefits consulting, recordkeeping or administration services. And from your experience, you have likely asked the following questions: Why do I need to do this? What do I need to include? and How do […]
Few Canadians will voluntarily educate themselves about financial matters—especially when it comes to retirement planning. Just ask the many plan sponsors and providers that have spent big money on member education materials and financial planning tools that sit largely ignored and unused. Thanks to the Capital Accumulation Plans Guidelines (CAP Guidelines), there’s not a well-governed […]
Technological change is all around us, and many industries—such as media, banking and retail—have used it to significant advantage. The group benefits industry, however, has lagged behind in this area—whether caused by the complexities of industry amalgamation, the inflexibility of legacy mainframe systems or other operational hurdles. But that reaction time is shortening as the […]
There is a lot of room for improvement on group savings and retirement plan member statements, as a poll by Ipsos Reid finds 44% of Canadians with a group plan don’t know what their retirement income will be. Another 41% are unaware if their current savings rate is on target to meet their future income […]
The comprehensive review of Canada’s retirement savings framework that has taken place since 2008 has highlighted a need to refine the options available to Canadians to help them save more effectively for retirement. On the heels of a major market decline, the need for retirement saving took on renewed importance, and the review exposed gaps […]
The Standard Life Assurance Company of Canada’s new Plan for life statement for group savings and retirement plan members has been ranked second in Canada, as per global financial services strategy and operations research firm DALBAR. Standard Life’s member statement received an excellent rating in the DALBAR Trends and Best Practices in Defined Contribution Pension […]
NAV Canada has had a pension plan communications strategy in place since 2000. But a growing realization from the pension team that members were not as engaged in the plan as they could be was the catalyst for recent enhancements. “The pension benefits at NAV Canada are complex and were not well understood by employees. […]
In 2008, Americans voted in record numbers, with millions submitting early ballots and others standing in lines that snaked around the block—sometimes in pouring rain. Fast-forward to 2010. Voter turnout for the recent mid-term primaries was the lowest of any mid-term primary season in U.S. history, with the exception of 2006. Young voters were the […]
Wellness and fitness have always been an integral component of the culture at sanofi pasteur, a company with roots in Canada dating back nearly 100 years. At one time, the organization’s employee wellness programs meant company bowling leagues and baseball teams. Now they mean offering employees everything from a fully equipped on-site gym and instructor-led […]