Unlike the promise by defined benefit plans of a stream of income during retirement, their defined contribution counterparts focus more on the accumulation of assets. And that’s a problem, according to Robert Merton, a professor of finance at the Massachusetts Institute of Technology’s Sloan School of Management. Merton, who spoke at Benefits Canada’s Defined Contribution […]
Defined contribution pension plans in Canada are maturing quickly and becoming more sophisticated. Contributions and plan assets continue to grow, investment options are evolving and many employers are now operating in multigenerational workforces with a wave of employees who are nearing retirement. How plan sponsors can respond to the evolving landscape was a key focus […]
The pension and benefits industry often talks about flexibility and customization of plans, but how many companies are actually changing their offerings to introduce those elements? ATB Financial is one company that’s taking action on the issue following its pension redesign in recent years. “The most relevant strategic driver for reviewing and redesigning our pension […]
While many defined contribution pension plan members have similar objectives around retirement readiness, each person’s journey to reach the goal will be different. During his presentation at Benefits Canada’s Defined Contribution Plan Summit, Shawn Cohen, director of relationship management at MFS Investment Management Canada Ltd., discussed how to incorporate the journey into the investment experience […]
To leave no one behind, defined contribution pension plans must adapt and innovate. That’s the message delivered by Daniel Morris, portfolio solutions manager with Schroder Investment Management Ltd., during his session at Benefits Canada’s 2017 Defined Contribution Plan Summit. A combination of contributions and return on investments determine the end result of plan savings, and […]
Behavioural economic biases, particularly among younger and older defined contribution pension plan members, may influence their investment choices and put retirement outcomes at risk, participants at Benefits Canada’s Defined Contribution Plan Summit heard. But during his presentation at the February event in Vancouver, Tim Choe, quantitative analyst at Fidelity Investments, suggested low-volatility equities as a […]
At Benefits Canada’s 2017 Defined Contribution Plan Summit, Janice Holman, principal at Eckler Ltd., moderated a presentation highlighting unique approaches three different plan sponsors have taken to help their plan members retire successfully: Niagara Casinos, a government-owned but privately operated organization with more than 4,000 employees and more than 400 job classifications, implemented an award-winning […]
As it is in Canada, member engagement is a buzzword for the defined contribution pension plan industry in Australia. But engagement doesn’t go far enough, said John Farrington, executive officer for corporate relationships at the Equip superannuation fund in Australia, during his presentation at Benefits Canada’s 2017 Defined Contribution Plan Summit. “I think engagement is […]
Across the globe, the defined contribution retirement model is in transition on a number of fronts. Jean Young, senior research analyst at the Vanguard Group Inc.’s Centre for Investor Research, spoke at Benefits Canada’s 2017 Defined Contribution Plan Summit about several big issues plan sponsors face as they help prepare their employees for retirement. In […]
Moderators: Nadia Darwish, vice-president of development, marketing and investment strategy; and Karrina Dusablon, national vice-president of business development, client relationship and member experience, at Desjardins Insurance The consensus among participants was that when focusing on retirement readiness, there’s a need for a broader discussion about promoting financial wellness, said Dusablon. “We need to make financial […]