Defined benefit plan sponsors can’t predict the future — but with a provision for adverse deviation, they can at least plan for it. “Given the work that actuaries do, where it’s all about quantifying risks and all these unknowns, it’s always best to be conservative,” says Andrew Gillies, partner and consultant at Robertson, Eadie & […]
Today’s consumer culture includes shopping online, booking vacations on smartphones and receiving recommendations for the next must-watch movie or television show based on most recent views. So it’s no surprise employees are starting to expect the same level of technology in their benefits plans and communications. “Today’s technologies — as well as consumer expectations — […]
Eight months into the coronavirus pandemic, employees continue to face a myriad of stressors, including health anxiety, isolation, financial concerns, family issues and increased workloads. This prolonged stress is impacting sleep, energy and motivation, while driving a heightened demand for mental-health services and medication. “If you think of a classic disaster, . . . [like] an […]
Over the last 20 years, managing a pension plan has looked a little like riding a roller coaster — with the 2001 technology bubble, 2008/09 financial crisis and the recent coronavirus market volatility providing sudden, gut-wrenching drops that can draw a scream from even the heartiest of souls. “From an investment standpoint, we’ve been in […]
When the Canadian Life and Health Insurance Association rolled out its proposed compensation disclosure guideline in January 2018, it quickly inflamed tensions with group benefits and retirement advisors. The guideline, G19, stipulated that all of the CLHIA’s insurer members begin disclosing to plan sponsors the fees, commissions and bonuses they paid to advisors. Facing backlash […]
An upcoming Sun Life Canada drug plan change that will be implemented outside of plan sponsors’ renewal periods is calling attention to the practice of block-level contract amendments. Sun Life is set to implement the first phase of its reference drug program on Oct. 1, which the insurer says will help plan sponsors with drug plan sustainability by creating categories […]
Since retirees and active plan members are fundamentally different, should their investment options reflect that distinction? That’s the question confronting defined contribution plan sponsors as they explore the relatively new world of in-plan decumulation. As of January, when the Ontario government passed a series of new regulations under the Pension Benefits Act, the majority of […]
Faced with ballooning and unsustainable public pension liabilities, Taiwan’s government was forced to make a tough decision. In 2017, the country’s ruling Democratic Progressive Party passed a bill to dramatically cut retirement benefits for the country’s civil servants, public school teachers, police officers, firefighters and private sector workers. The changes were unpopular, but necessary. Underfunded […]
Environmental, social and governance factors are highly relevant to fixed income investment outcomes, but integration is complicated by the variety of issuers within the asset class. For corporate fixed income, integration is quite simple. Issuers could use the same frameworks as their equity counterparts, such as the Sustainability Accounting Standards Board’s materiality map, said Joshua […]
Claims for medications treating mental-health issues like anxiety and depression reached 97 per cent of 2019’s total claims volume by the end of August 2020, according to new data from Express Scripts Canada. In addition, 2020 has seen a 20 per cent increase in claimants for medications relating to depression compared to 2019. “For the remainder of […]
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