The uniting theme at the 2022 Defined Contribution Plan Summit was financial wellness, a chief concern for any employer that offers a pension plan to its workforce. In particular, with inflation reaching its highest level in four decades and people facing several competing financial priorities, including simple day-to-day expenses, plan sponsors are bringing flexibility to […]
The 2022 Defined Contribution Plan Summit, which was hosted in Victoria, B.C. on May 11-13, featured several case studies from innovative DC plan sponsors, as well as presentations by thought leaders to help employers embrace their employees’ evolving financial priorities and prepare for the future. Across the two-day event, the themes included: rethinking retirement in […]
When it comes to educating women about retirement and their finances, the needle hasn’t moved enough in the past few decades because the language being used by the industry isn’t connecting to what’s really going on, said Jenine Garrelick, senior managing director at MFS Fund Distributors Inc., during a session at Benefits Canada‘s 2022 DC […]
While defined contribution pension plan sponsors are focusing on providing members with information, education and guidance to ensure they’re ready for retirement, advice is becoming more holistic and covering a financial wellness continuum, said Jennifer Katzsch, regional vice-president for Western Canada, group retirement savings at Desjardins Insurance, during a session at Benefits Canada‘s 2022 DC […]
Providing tools to help defined contribution pension plan members make solid financial decisions rather than making the decisions for them was the impetus for Canadian Forest Products Inc.’s multi-year financial wellness program, according to Lisa Weber, the company’s pension and benefits advisor, during a session at Benefits Canada‘s 2022 DC Plan Summit. Since Canfor closed […]
Brown and Caldwell is recognizing employees’ hard work and resilience over the last two years with a company-wide salary increase. In July, the engineering consultancy gave employees a five per cent increase on their current salaries. Patti Pederson, the organization’s vice-president of total rewards, says the increase was implemented across the board for everyone actively […]
Eight in 10 (81 per cent) U.S. employees with an employer-sponsored retirement savings plan say they’re concerned about inflation impacting their retirement, according to a survey by BlackRock Inc. It found nearly two-thirds (64 per cent) of respondents with a workplace retirement savings plan are worried about their nest egg lasting throughout their lifetime, a […]
More than two-thirds (70 per cent) of large U.S. employers are planning to beef up their benefits plans in 2023 to enhance their attraction and retention efforts, according to a new survey by Mercer. The survey, which polled more than 700 employers, found a third (32 per cent) of large employers already offer inclusive family-building […]
Nearly three-quarters (73 per cent) of Canadian employees aged 18 to 34 and 69 per cent of workers aged 35 to 44 say they’re significantly more likely to leave their current employer for another role offering better benefits, according to a new survey by RBC Insurance Services Inc. The survey, which polled more than 1,000 […]
A third (34 per cent) of Canadians say their employer doesn’t provide training or support to deal with workplace conflict, while another 20 per cent say they’re experiencing increased aggression at work, according to LifeWorks Inc.’s latest mental-health index. The survey’s respondents reported an overall mental-health score of 64.9, up slightly from 64.8 in April. […]