The Saskatchewan Pension Plan is improving investment choice for members in the accumulation phase and introducing new options to help them through decumulation as well. Leading up to retirement, SPP members are defaulted into a balanced fund, which has been in place since the plan started in 1986. In 2010, it introduced a short-term fund, […]
A new paper is evaluating how global retirement systems are faring in the wake of the coronavirus pandemic and what reforms will be required to facilitate the retirements of future generations. The paper, ‘Building better retirement systems in the wake of the global pandemic,’ by Olivia Mitchell, a professor and executive director of the pension research council […]
While some defined contribution pension plan members may push their retirement plans back because of market turmoil caused by the coronavirus, others won’t be willing to do so. Those soon-to-be retirees will have to take other measures to ensure they can retire, which will likely include diversifying their potential sources of retirement income, according to […]
In the group benefits world, the first rumblings of the effects of the coronavirus pandemic came when plan sponsors started asking, as early as January, about their travel insurance provisions. “Clients were worried about their business travellers and expatriate employees, in China mostly, and afterwards for their employees travelling for their winter vacations,” said Daniel […]
While the Canadian retirement industry has spent a lot of time focusing on the accumulation stage, the decumulation conversation is much further behind. For defined contribution pension plans, almost all jurisdictions across the country have now passed variable benefits legislation, including Ontario, which began allowing the option on Jan. 1, 2020. However, despite receiving legal […]
During an educational two days in Montreal, the 2020 DC Plan Summit, on Feb. 5-7, featured a range of sessions diving into today’s top issues for plan sponsors, including financial education and wellness, post-retirement solutions, sustainability, plan design and technology. Is your pension communication message getting through? A look at the different paths to ESG […]
Telus Communications Inc.’s director of pension and benefits talks about plan member choice, honouring diversity and local walks. Q. What top challenges do you face in your role? A. Providing personalized, meaningful benefits to our team members, while at the same time ensuring the sustainability of the program through prudent cost management — it can be a […]
As thoughts turn to decumulation, defined contribution plan sponsors have to look for different metrics to assess the variety of products on offer. During a session at Benefits Canada‘s 2020 DC Plan Summit in Montreal in February, Ed Studd, solutions manager of U.S. portfolio solutions at Schroders, called on plans to set a new consistent […]
From plan members to plan sponsors to providers, everyone in the industry is talking about decumulation. Even governments are getting in on the action. But what will be the effect of the new products? “The options will meet the needs of some employers, but we’re not heading for a revolution just yet,” said Marc-Antoine Morin, […]
Wrapping up the 2020 DC Plan Summit with his customary flair, Zaheed Jiwani, principal and leader of the DC consulting group at Eckler Ltd., highlighted the pervasive themes through a selection of songs. With Joe Cocker’s “With a Little Help from My Friends,” he noted how the plan sponsor case studies shared real-life examples of […]