Decumulation is a clear and significant concern for the sponsors of capital accumulation plans, the results of Benefits Canada’s 2017 CAP Member Survey show. The annual survey found 61 per cent of plan sponsors would be likely to allow their members to leave their assets within their plans after they retire if regulations allowed. Of […]
The Workplace Safety and Insurance Board is taking a more holistic approach to workplace wellness by putting financial fitness on the same pedestal as physical well-being and mental health. “Traditionally, workplaces have focused on physical wellness and dedicated a lot of resources to it at the expense of overlooking the mental and financial aspects of […]
Poor financial well-being is a growing problem, impacting Canadian employees’ on-the-job performance, health and absenteeism rates, according to a new survey by Willis Towers Watson. Its survey found that 23 per cent of respondents identified themselves as struggling. Among that group, almost half said that worries about finances were preventing them from performing their best at work. More than […]
In its sixth year of offering employees educational workshops during Financial Literacy Month, Western University has changed its approach this time by delivering information on a range of topics rather than just the organization’s pension plans. In the past, the university has used the financial literacy focus to communicate the details of its two defined contribution plans, […]
The days of working for one employer and contributing to a single pension plan for an entire career are long over. In fact, 28 per cent of Canadians surveyed by Workopolis Inc. in 2014 had already had between five and 10 jobs, and Statistics Canada figures show defined benefit membership is continuing to fall while […]
It’s no secret that passive investments, such as exchange-traded and indexed funds, have become more popular with investors over the past 10 years. Such funds require very little to no intervention by investment managers and, therefore, have much lower management fees than the classic mutual fund structure. Read: Continued growth predicted as ETF industry tops $100 billion […]
Plan sponsors may have the best intentions of keeping members engaged with their pension or benefits communications, but it’s easy to miss the mark. Here are three common communications mistakes and tips to help avoid them. 1. Choosing the wrong media (or just one): Plan sponsors will often say, “Our members aren’t on social media,” or, […]
Macroeconomic trends such as longer lives, a lack of access to pensions and retirement supports, a low-growth environment, and persistent lack of financial literacy and trust in financial markets are creating a significant retirement savings gap between what people require in retirement and what they’ve actually saved. This is a global issue. But in Canada alone, […]
While the sustainability of defined benefit pension plans have long been a central talking point in the industry, they took a real hit during the 2008 financial crisis, a sting many plans feared would linger in public opinion. “DB plans were obviously affected. Actually, all retirement savings plans were impacted,” says Darryl Mabini, senior director of growth and […]
While mental health is often a sensitive area, the Co-operators Group Ltd. aimed to bring the issue into the open by introducing an online Yammer group as a safe place for employees to talk, share information and support one another. “It’s a way for us to have those organic conversations crop up from our staff,” said Stacey Kennedy, […]