While a majority of U.S. employees say they’re very confident (39 per cent) or confident (29 per cent) they’re doing a good job preparing for retirement, nearly two-thirds (62 per cent) either strongly or somewhat agree that preparing for retirement makes them feel stressed, according to a new survey by the Employee Benefit Research Institute. […]
While artificial intelligence may one day be able to remove human bias from financial decision-making, that development remains far in the future, said Lisa Kramer, a professor of finance at the University of Toronto’s Rotman School of Management, during the keynote session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. “Human nature is […]
While women are increasingly becoming primary income earners, few women manage their own finances as they near retirement, said Elisha Ribeiro, national sales director for integrated and group retirement services at the Canada Life Assurance Co. (pictured right), during a session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. “In our 20s, there […]
Inspired by the University of British Columbia’s variable payment lifetime annuity option, the Australian Retirement Trust is taking a similar approach to decumulation, which, in turn, may hold lessons for Canadian defined contribution plan sponsors, said Brnic Van Wyk, the plan’s head of asset and liability management, during a session at Benefits Canada’s 2024 DC […]
Financial literacy initiatives and a wide range of capital accumulation plan options are key components in supporting the financial health of midwives, said Nicole Mellin, executive director of the Association of Ontario Midwives Benefits Trust (pictured left), during a session at Benefits Canada’s 2024 Defined Contribution Plan Summit in February. The association provides its roughly […]
Manulife Financial Corp.’s latest financial stress survey found two-thirds (64 per cent) of employees aged 55 and younger and 50 per cent of workers aged 55 and older are seeking more financial advice from their employer, said Marc-Antoine Morin, the organization’s assistant vice-president of product development for group retirement solutions, during a session at Benefits […]
From its roots as a retirement plan for Saskatchewan farmers, the Saskatchewan Pension Plan has grown over the past four decades to accommodate Canadians from all provinces and walks of life. “It’s really meant to be a social policy need to fill in gaps,” said Shannan Corey, the plan’s executive director, during a session at Benefits […]
Features such as automatic enrolment in 401(k) savings plans are helping U.S. employees become retirement ready, said Mark Iwry, a non-resident senior fellow at the Brookings Institution and a former senior advisor to the U.S. Secretary of the Treasury for national retirement and health policy, during a session at Benefits Canada’s 2024 Defined Contribution Plan […]
During a panel discussion at Benefits Canada’s 2024 Defined Contribution Plan Summit in February, three defined contribution plan sponsors shared their respective decumulation journeys and their thoughts on where the DC plan sector is in terms of effectively supporting this particular phase of plan members’ lives. At ATCO Ltd., roughly 5,500 employees are enrolled across […]
Technology plays an increasingly important role as defined contribution pension plan sponsors seek to deploy decumulation support and retirement advice at scale, said Jean-Michel Lavoie, vice-president of strategy and market development for group retirement services at Sun Life Financial Inc. (pictured right), during a session at Benefits Canada’s 2024 DC Plan Summit in February. The […]