TORONTO, May 13 /CNW/ - The Association of Canadian Pension Management (ACPM) today released its Education Initiative Report, a summary of discussions with employers across the country regarding effective retirement plan member communication. The report found that many employers are exploring new communication methods to help plan members maximize their retirement savings.
In response to ACPM members' concern that pension plan members aren't aware of the need to save adequately for retirement, ACPM canvassed plan sponsors to learn more about successful communication methods.
"Canadian employers are keen to help their employees save for retirement," said Marcia McDougall, chair of the ACPM Strategic Communications Committee. "They want to ensure employees maximize the organization's pension plan or retirement savings program. The challenge is that retirement seems a long way off for many employees, so it's hard to get them interested in the company pension plan until they're at the end of their careers."
The report summarizes the discussions with plan sponsors. It also includes case studies that highlight various tactics and strategies used by some of the employers.
"The ACPM roundtables clearly demonstrated that employers are focused on having employees understand and appreciate the value of their plans as retirement savings vehicles and are looking for effective ways to grab employees' attention," stated McDougall. "Many of the techniques mentioned in the report have wide application."
Some of the effective communication strategies outlined in the report include:
- Messaging targeted to employees at different ages/career stages;
- Use of media and approaches that ensure information about the program
is accessible, relevant and personalized;
- Measuring success of communication initiatives so that tactics can be
revised if necessary.
The complete report is available for download at www.acpm-acarr.com. There is also the opportunity to learn about the findings in more detail at an ACPM Ontario Council session taking place in Toronto on May 18th.
Established in 1976, the ACPM advocates for an effective and sustainable Canadian retirement income system. Our members are drawn from all aspects of this industry from one side of this country to the other. They represent over 300 pension plans consisting of more than 3 million plan members, with assets under management in excess of $300 billion.
The ACPM promotes its vision for the development of a world-leading retirement income system in Canada by championing the following Guiding Principles:
- Clarity in legislation, regulations and retirement income
- Balanced consideration of other stakeholders' interests; and
- Excellence in governance and administration
The ACPM regularly advocates and participates in public dialogue on pension issues.
SOURCE Association of Canadian Pension Management
For further information: For further information: Vanessa Wilson, Director, Communications, ACPM, (416) 964-1260, Ext. 223, firstname.lastname@example.org