Guided Outcomes, exclusively in Canada by Eckler Ltd., the active way to help your employees feel good about their retirement.
Eckler introduces innovative workforce management tool for DC plan
TORONTO, June 25, 2014 /CNW/ - A growing number of Canadian defined
contribution (DC) pension plan sponsors are facing the same serious
problem: their members aren't saving enough for retirement. This can
result in employees who are unable to retire on time, causing workforce
planning issues and additional benefit and productivity costs for
employers. Research tells us that most employees don't know how much
they should be saving − but that they'd likely save more if they knew.
Enter Guided Outcomes (GO), an innovative DC plan management solution from Eckler Ltd. GO
gives employers what they need to help their employees set − and
achieve − a realistic target retirement income. Eckler Ltd. is
introducing GO to the Canadian market following the tool's successful
UK launch by Hymans Robertson, one of Eckler's Abelica Global partner
"GO is currently being used by DC plans in the UK that hold over £2
billion of pension savings and represent more than 300,000 members,"
notes Jill Wagman, Eckler's Managing Principal. "It has a proven track
record with plan sponsors in that market, and we're excited to be able
to bring it to Canada. We have every confidence that GO is going to be
a game-changer for Canadian DC plans."
While there are other DC plan management tools on the market, GO is set
apart by its sophisticated analytics, which allow for a unique target
to be set for each employee without any employee input. It also helps
employees stick to their personalized target by offering three levels
of engagement: Do it for me, Help me do it, and Let me do it. For employers, GO provides the ability to model plan design changes in
real time, using aggregated member data. It also offers a user-friendly
way to analyze their plans and identify trends − contributing to an
enhanced understanding of any workforce planning challenges on the
"The perception continues that DC plans provide inadequate incomes in
retirement and represent poor value for money. That is false − it is
more a case that DC plans have largely been wielded as a blunt tool to
date," says Rob Harper, a Partner at Hymans Robertson. "GO allows an
employee to set a target income requirement and then actively supports
them along the flight path in accumulating their retirement savings."
Sponsors who incorporate GO into their plan governance will also be
better equipped to:
improve workforce planning by helping employees retire when they want
to, allowing the next generation of talent to succeed;
comply with all CAPSA guidelines; fulfilling their legal fiduciary
obligations as plan sponsors; and
manage their organization's reputational risk by setting employees'
expectations for what the DC plan can provide in retirement.
About Eckler Ltd. (eckler.ca)
Eckler Ltd. is a leading consulting and actuarial firm with offices
across Canada and the Caribbean. Owned and operated by active
Principals, the company has earned a reputation for service continuity
and high professional standards. Our select group of advisers offers
excellence in a wide range of areas, including financial services,
pensions, benefits, communication, investment management, pension
administration, change management and technology. Eckler Ltd. is a
founding member of Abelica Global - an international alliance of
independent actuarial and consulting firms operating in over 20
About Hymans Robertson LLP (hymans.co.uk)
Established in 1921, today Hymans Robertson is a limited liability
partnership and is one of the longest established independent
consulting and actuarial firms in the UK. The firm offers a full range
of services including the provision of actuarial, investment
consultancy, administration and general consultancy services to the
trustees and sponsors of defined benefit and defined contribution
pension schemes and an enterprise risk management practice advising
banks and life insurers.
Employing some 650 staff in London, Glasgow, Edinburgh and Birmingham,
the firm has a client base including companies in the FTSE 100, the
FTSE 250, the public sector and privately owned firms.
Video with caption: "Guided Outcomes, exclusively in Canada by Eckler Ltd., the active way to help your employees feel good about their retirement.". Video available at: http://youtu.be/nu3x3fY_Qq4
SOURCE: Eckler Ltd.
For further information:
To find out how GO can help your employees feel good about their retirement, visit guidedoutcomes.ca, or contact Michael Moriarity at 416-696-3039 or firstname.lastname@example.org.
For media inquiries please contact Nancy Peppard at 416-696-3081 or email@example.com.