S1 - Pension

Birthdates Should not Drive DC Pension Plans

Mark S. Yamada, President & CEO, Pur Investing

Two workers with identical years of service, income, and contribution rates can have very different outcomes based only on their birthdates (retirement date). For example, someone retiring after 40 years of service in 1980 would accumulate only 38% of what a person retiring in 2019 would with identical service, salary, and contributions (60:40 portfolio).

Target date funds (TDFs), the dominant DC default option in North America, are similarly unfair. Although diversification is better and asset allocation more aggressive early in their savings years than members would select themselves, their accumulated assets can vary greatly. Why?

• TDFs are blunt instruments for managing risk.
• TDFs have limited scope to accommodate members with different financial needs.
• TDF outcomes depend almost entirely on market returns without regard for income replacement.

Stochastic control theory applied to pensions can improve both DC and DB plan outcomes by managing towards income replacement rather than try to maximize returns.

Attend to learn:

• how fixed mix (balanced funds) and rigid ladders (TDFs) lead to uneven pensions.
• how managing to income replacement rather than return maximization can improve outcomes.
• Learn how goals-focused management improves the probability that plan members get what they really want, reliable income replacement

Who should attend:

Asset managers, DC and DB plan sponsors, investment advisors, mutual fund providers, pension and RSP plan providers.

S2 - (Benefits)

Employee Resilience: How to Increase It – And Strengthen Organizational Performance

JM Lavoie, Regional Vice-President, Business Development and Client Relationship – Group Retirement Services - Quebec
Alexandra Laflamme-Sanders, Assistant Vice-President, Products & Solutions, Group Benefits, Sun Life

What do we mean by employee resilience? It’s the ability to adapt or change when things don’t go as an employee expects them to. It involves being able to bounce back from difficult situations. These include financial concerns, mental health issues related to work or home, and physical health concerns.

While these may be individual concerns, they matter at an organizational level too. A resilient workforce can mean higher productivity, less absence and burnout, and greater retention. The great news, if resilience is lagging, is that resilience levels aren’t static. There are steps plan sponsors can take to help employees increase it. More importantly, there are specific actions employers can take and workplace solutions to support employee resilience building.

Attend to learn:

• How workplace plan data and analytics can be leveraged to build a resilient workforce that can create the greatest impact and drive better outcomes
• Financial and mental health services and supports that are available to help you build employee resilience
• How to put the needed tools and solutions in place to help your organization take action – and champion their use.

S3 - Pension

Exploring Best Practices: Are Plan Administrators Required to Consider Climate Change?

Emile Lavergne, Climate Strategist, Manifest Climate
Jonathan Wypych, Associate Osler, Hoskin & Harcourt LLP

ESG, and in particular climate change, has become a mainstream consideration for stakeholders. Calls for greater regulation and disclosure of how ESG and climate change ought to be factored into pension investments have emerged from across the industry. While the interest in ESG and climate-related investing by pension plans is gaining markedly greater traction, this topic is still a “black box” to many. The murky legal framework within which plan administrators may, and arguably must, consider climate change and other ESG factors is only complicated by the lack of clear legislative and regulatory guidance. This presentation will provide attendees with an understanding of:

• A plan administrators’ fiduciary duty and legislative requirements to consider ESG and climate change factors in their investment decision making process under current Canadian law, with reference to the critical Governance pillar of the TCFD recommendations;
• International developments regarding ESG and climate-related investing and disclosures in the pension context (including, what the future for Canada might look like, and the broader global regulatory trends that will shape strategies employed by plans with cross-jurisdictional interests and obligations); and
• Practical guidance for climate-related disclosures, including reference to climate-related risks and opportunities, strategies, risk management, climate-related metrics and targets, and disclosure best practices.

Who should atttend:

This session is for all asset owners and managers who are considering ESG and climate impacts on their investments/portfolios.

S4 -  Benefits

Drug Trends Panel

Martin Chung, Assistant Vice President, Strategic Health Management, Equitable Life of Canada
Anar Dossa, Director, Pharmacy Services, Pacific Blue Cross
Suzanne Lepage, Private Health Plan Strategist

Did you know that only 8% of drugs that came to the Canadian market between 2014 and 2019 were considered either breakthrough or provide substantial improvement over drugs already available on the Canadian market while 75% provide slight or no improvement over existing therapies?

Given the unprecedented pace and complexity of change in the drug “world”, this engaging and interactive session will provide a brief summary of well-known drug trends (e.g. high cost drugs) that have been the focus of countless reports in recent years.  We will bring together a 3 person panel of drug experts to speak on some emerging trends such as gene therapy and how it can help target underlying causes of a genetic disease to help cure complex medical conditions.  Gene therapy is different than traditional drugs and one-time treatment can eliminate a lifetime of other expensive health care costs.  We will explore opportunities to consider alternative pooling and funding models to address some of these challenges

We will also bring forward how using evidence based medicine is more important today than looking at the number of drugs a plan covers by:

• using evidence to help reduce waste in the healthcare system
• using evidence to achieve plan sustainability
• using media to explain evidence based medicine

S5 - Pension

Blue Print to a Pension Plan 

Nisha Singh, Senior Consultant PBI Actuarial Consultants Ltd.

If you were to design a new pension plan today, how should it look like? In this interactive session, we will discuss:

• Different plan provisions, industry trends, pros/cons, and their underlying cost, and
• Different benefit designs pros/cons (e.g., % of contributions, flat dollar, etc.).
• What the funded position of plans with different possible designs starting today might be in the future (projections of funded ratio and FR and contribution excess/shortfall).

Finally, we will review projections with a higher benefit rate but no subsidies and discuss which is more important or more equitable.

who should attend: 

Plan sponsors, new Trustees, employers, union leaders.

S6 - Benefits 

Advanced COVID-19: Legal Considerations for Return to the Office and a Litigation Update

George G. Vuicic, Associate, Hicks Morley LLP

COVID continues to affect the workplace even after a return to largely in-person activities. Employers are faced with new challenges on how to maintain a healthy and respectful workforce while keeping their employees engaged and increasing retention.

In this legal perspective Georges Vuicic will address some of the challenges that employers are facing: mainly, how to address employee requests for continued remote work, vaccine mandates and social distancing practices, as well as, related privacy and safety concerns. He will also present an overview on litigating the COVID-19 fallout and trends in employee claims.

S7 - Investment

The Value of Risk Modelling to Diversify Your Portfolio Risk and Optimize Your Asset Allocation

Caroline Grandoit 
David McGowan, Vice President, Strategic Asset Allocation, BCI

As plans become more sophisticated in their investments, understanding the types of investment risk in your plan become more important. The use of asset and risk modelling is an evolving area that plan sponsors should consider as their portfolios and the economic environment evolved. This session will discuss the various types of portfolio investment risk in pension plans and how to use asset modelling strategies to:

• identify your exposure to the various types of investment risk in your portfolio
• understand the impact and risk exposure of adding new investment strategies
• analyze your target asset mix and understand your optimal risk/return profile

S8 - Français

Mieux-être et avantages sociaux : la nouvelle donne

William Lindsay, Conseiller Service aux preneurs en gestion et prévention des invalidités, Desjardins Assurances

Depuis le début de la crise sanitaire, de nombreuses entreprises ont ajouté des couvertures et des services à leur régime d’assurance collective. Elles n’en avaient pas nécessairement les moyens, mais entre la dégradation de la santé des salariés et la guerre des talents, elles n’ont pas eu le choix. Deux ans plus tard, il est temps de dresser un bilan et de voir quels avantages sociaux sont les plus pertinents pour faire face aux nouveaux enjeux de santé.

Au cours de cette conférence, nous identifierons les risques qui, en 2022, pèsent encore sur la santé des salariés, et les options des régimes collectifs les plus à même de les réduire. Plus généralement, nous explorerons les nouvelles tendances dans les avantages sociaux et réfléchirons aux multiples leviers dont disposent les dirigeants pour maintenir « des employés sains dans une compagnie saine ».

Cette séance permettra aux participants :

• d’identifier les nouveaux risques qui pèsent sur la santé des employés canadiens en 2022 et leur impact pour les entreprises;
• d’analyser les tendances qui ont émergé durant la pandémie dans le domaine des régimes collectifs, et plus généralement, des avantages sociaux;
• de comprendre les objectifs et les leviers d’une stratégie de santé globale couvrant les cinq sphères du mieux-être;
• d’identifier les actions et politiques qui contribuent à créer un environnement de travail sain et sécuritaire.

S9 - Pension 

Communication in the Digital Age

Leyla Imanirad,  Chief Empowerment Officer, Pension Bar

Have you ever met anyone feeling excited to attend a retirement planning session?! For many people learning about retirements and planning for it are associated with inertia, confusion and boredom! This results in general lack of financial literacy in this space, despite the great need for it. The industry needs to undertake a serious effort to enhance the users’ customer experience, a remote concept in the pension administration field today.

The enabling components of user experience are literacy, planning, execution and integration. These elements have to be improved and placed in the member’s head in such a way as to produce personal insights.

Attend to learn:

• How to strike a balance between accuracy and simplicity to engage the user in the process and obtain actionable information
• How to use existing technologies in the field of visualization and computation to encourage the user to learn about drivers of pension benefits
• How to integrate fragmented pension data to allow the use of machine learning and AI to generate insights for retirement decision making, a task currently outsourced to the user (or his/her advisor) using a host of heuristics and rules of thumb

S10 - Benefits 

Make Better Decisions: Applying Real World Evidence in Health and Disability Plans

Chris Bonnett, Principal Consultant, H3 Consulting
Daria O’Reilly, Lead Health Economist, Telus Health
Ned Pojskic, Vice President, Pharmacy Benefits Management, Green Shield Canada

As costs rise, you may be wondering about the value of health benefit plans. You’ve heard about “real world evidence” (RWE) but aren’t sure if it applies to your plan. This session will explore RWE and how data can be collected and used to guide high-value drug plan spending. RWE is the key to understanding value from economic, clinical and human perspectives. Given the rapid growth of highly specialized new drug treatments – already over 10% of drug spending – multiple sources of health information need to be quickly organized, shared and tracked to establish their value across the labour force and over time.

Cancer will be used as a focal point for RWE, since the disease is prevalent, complex and costly for employers, patients, caregivers and society. Learn the potential of RWE and how your organization can play an important role in its development.

Learning Objectives

1.        How the changing environment affects workplace drug plans and access to new specialized therapies.
2.        How real world evidence (RWE) can be used in private health plans.
3.        The economic criteria used to assess new therapies, and differences between private and public drug plans.
4.        How carriers are responding to challenges of collecting and using RWD and RWE on new high-cost therapies, and steps           being taken to educate their markets.
5.        Consider how payers, pharma and others can collectively prepare the market for value-based assessments

Who should attend?
Insurers, benefit advisors, pharmaceutical industry, specialty pharmacy, large employers, unions

S11- Investment 

The Impact of Rising Inflation on Your Investments: Strategies to Combat the Impact of an Inflationary Environment

Rachel Volynsky, Chief Investment Officer, Mercer Global Investments Canada Limited
Denise Kehler, Head of Delegated Portfolio Management, Canada, WTW and Integra Capital Limited

Session Description

Canada and the world are seeing inflation at record levels not seen since the 1990s. For pension plan members, and their investments, finding ways to maintain returns that keep up with inflation is an ongoing challenge. Central banks must increase interest rates to combat inflation but this is detrimental to traditional fixed income vehicles and global equity markets are reaching new highs.

This session will look at a variety of investment strategies, including the use of inflation linked asset classes, to help offset some of the impact of high inflation and help pension plans, and plan members achieve their targeted rates of return.

S12 - Français

Résilience des employés : comment l’accroître – et renforcer le rendement organisationnel

JM Lavoie, Vice-président régional, développement des affaires, Régimes collectifs de retraite, Sun Life Québec
Alexandra Laflamme-Sanders, Vice-présidente adjointe, produits et solutions, Garanties collectives, Sun Life, Québec

S13 - Pension 

Decumulation: The Why & How for Plan Sponsors

Frederick Vettese, Actuary and rRetirement Expert
Pat Leo, VP, Longevity Retirement Solutions, Purpose Investments

The session will be a discussion featuring Frederick Vettese, former Chief Actuary at Morneau Shepell (now called Lifeworks). Fred has written four books on retirement, and his third book, “Retirement Income for Life,” became the country’s best-selling book on retirement planning. Fred will provide insights into why plan sponsors should incorporate decumulation within their DC Plan, as well as how a plan sponsor might implement a decumulation strategy. Finally, both Fred and Pat will provide insights into the types of investments that make sense within a decumulation strategy and share examples of the types of innovation that are taking place in the decumulation space in Canada and beyond.

Attend to learn:

1. Why plan sponsors might offer a decumulation strategy
2. How plan sponsors can build a decumulation strategy
3. The types of investments to consider within a decumulation strategy
4. Innovation within decumulation solutions in Canada and beyon

Target Audience:
DC Plan Sponsors, Record Keepers, DC Consultants, Group Advisors

S14 - Benefits 

Disability and Return to Workplace

Dan Licoppe, Director, Maximum Benefit, Johnston Group
Addie Greco-Sanchez, President, AGS Rehab Solutions Inc.

This session will explore how after two years into a global pandemic, COVID-19 has impacted short term and long-term disability claims incidence and duration. Participants will also learn how employee mental health has been impacted; solutions to support employees remain at work and return to work including practical tips from real success stories.

Attend to learn:

• Learn the factors related to COVID-19 that have impacted STD and LTD incidence and duration, and what employers can expect moving forward
• how COVID-19 has impacted employees’ mental health and what to expect moving forward
• Understand where our predictions about the impact of COVID-19 on disability plans were accurate and inaccurate
• Identify benefits plan solutions for employers to support employees remaining at work and returning at work after absence due to disability
• How to create workplace strategies to ensure successful return to work plans or sustain stay at work plans
• Resources and accommodation “toolkit” from credible sources e.g. the Mental Health Commission of Canada, and other tools to ensure you provide positive psychological support to your employees.

S15 - Investment 

ESG Integration, from Policy to Portfolio

Emily Lawrence, Director of Sustainable Investing, Northern Trust Asset Management

Today, more than ever, a growing cohort of global investors are looking to integrate material ESG insights into the investment analysis and risk management process. Despite its rise in popularity, investors are recognizing considerable challenges with moving forward, particularly given the rapid pace of growth in capabilities on the market. This session will examine some of the drivers behind this growth, observations on practical steps towards due diligence and implementation, as well as perspective on opportunities to support the demand for enhanced, consistent and standardized ESG datasets and disclosure practices. There is an opportunity as key players within the investment management ecosystem to join forces and drive industry attention to common priorities. This session will aim to present practical approaches to ESG investing and thoughts on processes to overcome the challenges that we face as asset owners and asset managers.

Attend to learn:
1) Examine the reasons driving growth in investor attention and adoption of sustainable investing
2) Review the drivers of climate change investment risk
3) Approaches to investment due diligence on sustainable strategies
4) Thoughts on driving common processes to foster more sustainable corporate disclosure and practices

Who should attend:   This session will appeal to plan sponsors who are considering integrating sustainable investing into their investment process.

S16 - Français

Repenser l'avenir : Extraire les possibilités

Philippe Lagacé,  Conseiller principal, assurance collective, Mercer Marsh Avantages Sociaux

Si la santé et le bien-être physiques sont des aspects primordiaux pour les employés, votre regime d’avantages sociaux mérite également d’être revu. Les forces structurelles qui touchent les perspectives financières et professionnelles des employés ont aussi une incidence sur leur regime d’avantages sociaux. Il est essentiel d’aider avant toute chose les équipes de RH à instaurer une culture de la bienveillance. Dans une entreprise où tout le monde se sent en sécurité, traité équitablement et encouragé à faire part de ses problèmes, les employés sont plus enclins à profiter des avantages sociaux – numériques, personnalisés et  autres – dans lesquels la direction investit. Un tel climat améliore le moral des employés et, en fin de compte, la productivité et le résultat de l’entreprise.

S17 - Pension

A Mind for Pensions

Tim Cottee, Director, Sales Enablement, Group Retirement and Savings, Canada Life

With the shift to group retirement plans where members have control over key decisions, individual investor psychology and decision architecture is increasingly important to whether a member will make the best choices consistently. Using key insights from the worlds of neurology, evolutionary biology and psychology, we’ll investigate the reasons behind these ‘cognitive irrationalities’ and how even you are affected by them. We will then give practical advice on structuring group retirement plans and supporting members to make good choices.

Attend to Learn:

• Why the human brain (including yours) can be irrational when it comes to decision making
• How pension plans (and all group retirement plans) can help overcome member’s cognitive barriers to their achieving their retirement income needs

S18 - Benefits 

Group Benefits and Well-being: the New Normal

Williams Lindsay,  Senior Disability Management Advisor for the Disability Management and Prevention team, Desjardins Insurance.

Since the health crisis began, many companies have been adding coverage and services to their group benefit plans. They didn’t necessarily have the means to make the changes but, with plan members health in decline and labour shortages making it hard to attract and retain talent, they really didn’t have a choice. Two years into the pandemic, it’s time to take stock and look at which of those benefits are best suited to address new health issues.

In this session we will identify the risks that are still having an impact on employee health in 2022, and the group plan options that are most likely to help reduce them. We’ll explore the new trends and talk about the many tools available to managers to help them build a healthy workplace for healthy employees.

Attend to:

• identify the new risks affecting Canadian employees’ health in 2022 and their impact on organizations
• analyze group insurance trends stemming from the pandemic, specifically group benefits
• understand the goals and elements integral to an overall health strategy covering the five spheres of well-being
• identify actions and policies that will help create a safe and healthy work environment

S19- Investment

CIO Panel 

Asif Haque, Chief Investment Officer, CAAT Pension Plan.
Aaron Bennett,  Chief Investment Officer, UPP 
Speaker 3

Session Description

Join us for this interactive session as three Chief Investment Officers from Pension Plans across Canada answer your questions, discuss their current investment strategies and trends, areas of new opportunity, and pension plan risks they need to consider as their investments, and plan demographics continue to evolve.

S20 - Français

Intégration des principes ESG, de la politique au portefeuille

Emily Lawrence, directrice de l'investissement durable, Northern Trust Asset Management

Aujourd'hui plus que jamais, les sociétés de gestion cherchent à intégrer les facteurs ESG matériels dans leurs processus d'analyse des investissements et de gestion des risques afin d'améliorer la rigueur et la portée de leurs approches, en particulier dans le contexte d'un intérêt croissant pour l'investissement responsable. Malgré sa popularité croissante, nous sommes confrontés à des défis considérables en ce qui concerne l'intégration des facteurs ESG, tels que la nécessité de développer et d'appliquer des cadres de reporting ESG standardisés et d'améliorer les pratiques de gouvernance et de divulgation. Cette session visera à repenser la philosophie de l'investissement ESG du point de vue de plusieurs acteurs de l'industrie afin d'accroître l'engagement de l'industrie de la gestion d'actifs envers l'investissement responsable. Plus précisément, nous offrirons un aperçu des principaux défis, opportunités et solutions pratiques du point de vue des propriétaires d'actifs, des gestionnaires d'actifs, des émetteurs d'entreprise et d'autres acteurs du marché.

S21 - Pension  

Coffee with CAPSA

Angela Mazerolle, Vice President, Regulatory Operations; Superintendent, Pensions and Insurance at FCNB (New Brunswick)
Caroline Blouin, Executive Vice President, Financial Services Regulatory Authority (Ontario)

The Canadian Association of Pension Supervisory Authorities (CAPSA) is a national Association of pension regulators from across the country. It provides a forum for regulators to share information on regulatory issues in their jurisdictions and collaborate in developing practical solutions and guidance, in order to further the harmonization of pension regulatory principles in Canada.

In this interactive session, we will welcome two members from CAPSA’s Executive - Angela Mazerolle, Vice-President, Regulatory Operations and Superintendent of Pensions, at the Financial and Consumer Services Commission, New Brunswick, along with Caroline Blouin, Executive Vice President, Pensions, at the Financial Services Regulatory Authority of Ontario

As Vice Chairs of CAPSA, They will be sharing CAPSA news, its approach and priorities, as well, they will highlight some of CAPSA’s on-going work and initiatives.

S22 - Benefits 

Implementing a DEI Program: What are Some Challenges and Ways to Overcome Them

Douglas T.K. Chiu, Partner, Hammerco Lawyers LLP

In July 2020, Hammerco Lawyers LLP created its Diversity Equality Inclusivity Committee; this marked an important step in our firm’s culture and growth.

They started with the right intentions of creating this program but then they were faced with a number of challenges. 

Through mentorship, trial and error, and looking inwards, they were able to solve these issues and progress forward with a DEI Committee that has and continues to make a difference in the workplace. Today DEI is a vital component in the firm’s internal makeup.

In this presentation Doug Chiu hoping will share his experience and thoughts with others who have recently begun or will start a DEI committee. By sharing tips, and encouragement on how and where to start, what was helpful to the firm, and what his team would have done differently; Doug wants to make another company’s journey maybe a bit easier

S23 - Investment 

Alternative Investments: The Case for Domestic Versus Global Investment

Andrew Croll, Vice-President and Director, Alternative Investments TD Asset Management
David Alloune, Senior Director, Trans-Canada Capital

As Pension Plans become more sophisticated investors and barriers to entry come down, the use of Alternative investments such as Real Estate, Infrastructure, Private Debt and Private Equity continue to grow. But for pension plans, is it better to invest domestically or globally in these alternatives? This session will explore the features, benefits and risks of investing both at home and abroad.

S24 - Français

Strategies légales pour le retour au présentiel et mise à jour sur la jurisprudence

George G. Vuicic, Associé, Hicks Morley LLP

La COVID continue d'affecter le lieu de travail même après un retour à des activités largement en présentiel. Les employeurs sont confrontés à de nouveaux défis sur la façon de maintenir un milieu de travail sain et respectueux tout en gardant leurs employés engagés.

Dans cette perspective juridique, Georges Vuicic abordera certains des défis auxquels les employeurs sont confrontés : principalement, comment répondre aux demandes de télétravail, le mandat de vaccination et les pratiques de distanciation sociale, ainsi que les problèmes de confidentialité et de sécurité connexes. De même, George présentera un aperçu des litiges liés aux retombées de la COVID-19 et des tendances dans les réclamations par les employés.