Alberta’s public sector pension plans are reassuring members their pensions are safe, following a recent ministerial order enacted by the provincial government. The order was enacted in late December by Alberta Finance Minister Travis Toews after 2020 deadlines for investment management agreements between the pensions and the Alberta Investment Management Corp. passed with no result. […]
Ontario’s pension plan administrators and plan members share the responsibility of maintaining current contact information, according to the Financial Services Regulatory Authority of Ontario’s final guidance on missing plan members. It recommended administrators maintain a records management system and retention schedules that support long-term administration of the pension plan and to exercise care and diligence […]
With the ongoing coronavirus pandemic raising economic concerns, the Arthritis Society is taking a responsive approach with its Financial Literacy Month initiatives during the month of November. “We’re reading the pulse,” says Cheryl McClellan, the organization’s chief operating officer. “We haven’t seen a lot of people stressed directly in our organization, but generally, we understand […]
Like a spiky meteorite, when the coronavirus pandemic hit earlier this year it demolished employer’s best-laid plans and is forcing them to find innovative ways to support, motivate and retain employees. During a virtual roundtable on Oct. 16, the 2020 Workplace Benefits Awards finalists discussed how they’ve quickly responded to everything from employee mental health to supporting financial wellness […]
Alberta’s Local Authorities Pension Plan is cancelling its coordination option, citing regret and confusion from plan members who mistakenly accessed the feature without fully understanding the financial implications. According to a statement by the LAPP, coordination will be discontinued for members who start their pension on or after Jan. 1, 2021. It noted the option’s elimination will […]
While pension plan sponsors and the government have roles to play when it comes to retirement, it’s increasingly up to individual employees to ensure they have a solid retirement plan, said Jack Mintz, the president’s fellow at the University of Calgary’s school of public policy. During a virtual roundtable hosted by the Association of Canadian Pension […]
The Co-operative Superannuation Society Pension Plan’s digital-first communications plan netted it the pension plan communications award at Benefits Canada‘s 2020 Workplace Benefits Awards on Oct. 16. The CSS pension plan’s communications strategy was influenced by the technology and fintech industries and meeting its members where they are — online. “We’re a defined contribution pension plan, so it’s […]
Benefits Canada is thrilled to announce the winners of the 2020 Workplace Benefits Awards. At a virtual roundtable and awards ceremony on Friday morning, 19 finalists gathered to discuss their leading benefits and pension strategies, followed by winner announcements across seven categories. The following winners — and all of the finalists — represent benefits and pension plans covering more than 280,000 Canadians. These […]
Defined contribution pensions are taking a bumpy ride in the coronavirus pandemic, with plan sponsors and their members facing volatile stock markets, financial uncertainty and interruptions to business as usual. Whether related to plan design, investment options, decumulation or overall financial well-being and education, what issues are taking the spotlight this year and what changes […]
The Pension Investment Association of Canada is expressing its support for the Financial Services Regulatory Authority of Ontario’s draft guidelines for pension plan sponsors dealing with missing members. In a letter, the PIAC said the draft guidelines would be helpful on a go-forward basis, but also noted plan administrators need more options regarding current missing […]