Defined contribution (DC) arrangements, both DC pensions and workplace savings plans such as a Group RRSP or TFSA, support employees to manage financial volatility, market volatility, and long-term financial uncertainty. However, they continue to demand time and resources from employers as the regulatory environment evolves. For employees, defined contribution arrangements need to continue to optimize flexibility, in order to promote financial confidence before retirement and provide access to competitive fees.
Mercer believes that DC plans should be managed holistically, as decisions made in any one area can affect other areas of the plan. To achieve a holistic approach, we believe in aligning organizational objectives with workforce demographics and employee behaviours to identify how employers can help improve retirement outcomes for their employees while meeting workforce management needs.
Mercer provides advice and solutions to our clients. Our solutions bring the power of Mercer's global footprint to Canadian organizations. For more information, view the Mercer Future Wise? video or click here.
Mercer can also lighten your administrative burden by offering full-delegated services. Our delegated defined contribution solution provides a full suite of admin and support services, leaving control of strategic decisions in your hands. With Mercer managing your day-to-day plan governance, you are free to focus on broader plan strategy.
Employees worry about not saving enough to be ready for retirement. Engaging employees with their financial wellbeing helps promote the value of the total rewards offering.
Mercer can support the financial wellbeing of employees by establishing a foundation of knowledge through financial wellbeing workshops/education, developing evidence-based strategies, employee surveys and solutions that immediately support employee wellbeing.
Connect with us to explore how we can help design, plan, optimize, and manage customized financial wellbeing programs.
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