A global shutdown caused by the coronavirus pandemic gave Canadians an increase of unanticipated savings that led to a short period of stronger retirement savings contributions, says Amin Mawani, director of the Master of Health Industry Administration and professor of taxation at the Schulich School of Business at York University. It has been five years […]
The majority (91 per cent) of Canadian employers are planning to benchmark their benefits plan against market practices to remain competitive, with half (49 per cent) prioritizing this for next year and 42 per cent for the next three years, according to a new survey by MercerMarsh Benefits. The survey, which polled nearly 350 employers […]
The use of automatic features in U.S. defined contribution pension plans is supporting employee financial well-being and retirement readiness, according to a new report by the Employee Benefit Research Institute. It found when a typical DC plan sponsor adopted auto-enrolment with a six per cent default contribution, the retirement savings shortfall among plan members decreased […]
Over the past 25 years, the pension industry has seen many significant shifts, from defined benefit to defined contribution, from accumulation to decumulation and from education and guidance to financial planning, said Chris Walker, regional vice-president of business development and investment strategy at Desjardins Insurance, during a session at Benefits Canada’s 2025 DC Plan Summit. […]
In the early days of Bell Canada’s defined contribution plan, there was a lot of emphasis on information and big campaigns, but at that time, employers were reluctant to get too involved, according to Robert Marchessault, the telecommunications company’s director of pension and benefits, noting it was soon clear its members needed more guidance. Speaking […]
The evolution of pension plans from retirement tools to encompassing flexible savings models that prioritize financial wellness is a defining change over the past 25 years in the defined contribution pension industry, said Wendy Mizuno, senior vice-president of total rewards at Loblaw Companies Ltd, during a panel session at Benefits Canada’s 2025 DC Plan Summit […]
Calling all employers and plan sponsors — the 2025 Workplace Benefits Awards will open for entries on Monday, March 31. This year, Benefits Canada is allowing a bit of extra time for submitting nominations, so we’re opening up the awards portal a whole month early. If your organization is leading the way in transforming the […]
The Canadian Institute of Actuaries is supporting employers with a new resource that focuses on the importance of early and proactive retirement planning. The resource covers several topics, such as how to build emergency funds while balancing short-term obligations with long-term goals, as well as developing sustainable retirement income strategies using personal savings, employer-sponsored retirement […]
Amid the ongoing tariff dispute between Canada and the U.S., employers can support employee mental health by reminding them of available mental-health benefits and being transparent in their communication, says Kim Siddall, national vice-president of client strategy at People Corporation. She notes the impact of the trade war on employee mental health is two-fold, encompassing […]
In the five years since the World Health Organization declared the coronavirus pandemic, Canadian benefits plan sponsors have adapted their offerings and continue to apply many of the lessons learned over the course of the health crisis. Chris Zelasko, president of Peak Benefit Solutions Inc. says while his plan sponsor clients initially focused on the […]
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