Plan Member Experience


With the increasing complexities of the marketplace, fiduciary responsibilities of Plan Sponsors and the needs of plan members, we believe that we are uniquely positioned to fully and independently address issues facing sponsors and members alike.

There are a number of roles that we assume as Group Retirement Consultants. Each of our clients are unique and therefore our mandates are customized to meet the needs of each organization.

Creative Benefits AllianceOur roles are extensively split between service to plan sponsors and employees/members of plans. From a plan sponsor perspective, we focus on ensuring all aspects of the Capital Accumulation Guidelines (CAP) are addressed, legislative compliance is maintained, and administrative services with the carrier(s) including underlying investment managers are consistent with the competitive marketplace.

At the member level, we focus on communication, information, counselling and advice. Our goal is member engagement; enabling members to gain a fuller understanding of their investments and risk tolerance while in the accrual stage, and retirement options and projections for the payout phase of their retirement planning. We will work with you closely in the alignment of these communications to optimize your employees’ savings & retirement experience.

Volatile markets and ever expanding investment portfolio options have brought member communication needs to the forefront for Group Retirement Plan Sponsors. The needs of plan members and the implementation of CAP Guidelines have been the subject of significant research over the past several years.

Rogers Communications has conducted several studies creating an extensive, credible database of information. In summary, the following findings have been determined and verified among Canadian Defined Contribution plan members:

  1. There are clear gaps between the expectations of members when it comes to overall portfolio returns, funds necessary to solidify an appropriate retirement lifestyle, and the ultimate benefit which require address.
  2. Less than 50% of members have a good to excellent understanding of the amount needed to fund their retirement.
  3. Members expect that 50% of their retirement income will come from their employer’s retirement plan.
  4. They place a great deal of faith in their employer to offer the best funds and choices for Investment.
  5. Less than ½ of members understand their own risk tolerance and only 1/3 understand the concept of asset allocation
  6. 74% of employees want and expect their employer to provide access to a professional advisor to assist with risk assessment, investment allocation, planning for and transition to retirement. In addition to this, plan members expected their company to pay for such advice and value it at $378 per annum. It is clear from these studies that plan members are looking for help in their investment and retirement planning.

Members will enjoy access to the following services:

  1. Contact information on plan member statements for immediate assistance.
  2. Webinars covering topics aimed at the general employee population such as market updates; specific demographics such as maximizing retirement income for employees who are approaching retirement; and “Financial Planning 101” for employees just entering the workforce or looking at this process for the first time.
  3. On site seminars and group meetings
  4. “One-on-One” counselling for plan members.
  5. Access to appropriately licensed financial planners to assist with the creation of a financial roadmap including projections and specific recommendations for achieving personal goals.
  6. Review of available on-line tools and resources for plan members.
  7. Review available investment options, personal risk tolerance, and rates of return.
  8. A review of all plan members within 10 years of retirement, to start the effective planning process towards the retirement payout phase. This includes options and opportunities to achieve future financial security.
  9. Access to retirement income product allocation specialists to assist with the retirement transition period.
  10. Support and advice for terminated members.
  11. Professional, independent advice.