In the midst of an unusual or unsettling situation, such as the coronavirus pandemic, pension plan sponsors should remember that both defined benefit and capital accumulation plan arrangements are intended to be managed for the long term. The negative impact of the coronavirus on global economies and on businesses is a concern, particularly with respect to […]
In this time of global pandemic, the coronavirus is shaking up everything, with high market volatility and changing work arrangements. Everyone is worried — not only for their immediate futures, but also for the long term. “It’s pretty hard to watch the market go through the volatility that we’ve seen over the last couple of […]
Sometimes, the best way to explore the unknown is by following in the footsteps of someone who’s been there first. When it comes to in-plan decumulation options from a defined contribution pension, whether the plan was grandfathered into existing legislation or is registered in a province that allows the option, many employers — and their […]
Once again, we’re experiencing volatile markets. During these times, it’s common to hear the following statements: It isn’t time to panic. This has happened before. Make sure the pension plan’s asset mix is correct. While these messages may be good advice for individual investors, defined contribution plan sponsors should be considering how to help their employees. Here are […]
Back in 1709, the poet Alexander Pope wrote that a little learning is a dangerous thing and a new study of defined contribution pension plan members finds this proverb still holds true today. The Invesco study, which compiled responses from 110 U.S. plan sponsors and more than 2,000 DC plan members, found that, while some DC plan members were […]
Willis Towers Watson is appointing Ofelia Isabel as its new market leader for Toronto. In her new role, Isabel will be responsible for the company’s brand in the Greater Toronto Area, delivering client solutions and managing business operations and talent development. “We’re very pleased to appoint Ofelia to this leadership role as we continue to […]
In a world flooded by media messages, how can employers cut through the noise to engage employees in their pension and benefits plans? This is an ongoing challenge for human resources professionals and communicators. Part of the solution lies in developing communications that are relevant and visually interesting. But perhaps most importantly, these communications should answer the question: […]
For the fourth consecutive year, reviewing fees is the most important step defined contribution plan sponsors are taking to improve their fiduciary positions, with fees identified as the main priority for 2020, according to a new survey by U.S.-based investment consulting firm Callan. “With the amount of fee-related project work we see, it’s not surprising […]
Popular legal cases in 2019 covered age discrimination, bankruptcy proceedings, constructive dismissals and a range of other topics. Benefits Canada rounds up the industry’s most popular legal stories of the year: 1. Settlement reached in Ontario age discrimination benefits case 2. Ontario appeal court decision could change pension landscape in bankruptcy proceedings 3. Court confirms employer’s right to change job conditions 4. Class […]
In November 2018, Niagara Casinos set up a pop-up coffee shop, called NC Café, across its three locations for a week. It was part of the company’s annual pension communications strategy, which also includes messaging on the employee intranet, seminars, targeted mailings and plan updates on fee reductions, contribution increases or investment fund changes. “This […]