Organizations are recognizing the importance of retiree benefits as an attraction/retention tool but are structuring plans to manage costs effectively. As baby boomers continue to retire in greater numbers, pressure will increase on organizations to offer retiree benefits and expand the benefits they currently offer while also trying to offset the increased costs.
This briefing is based on data collected for Benefits Benchmarking 2019, the Conference Board’s fourth benchmarking study on employer-sponsored benefits programs. The study surveyed employers from across Canada about their extended health, dental, life and accident insurance programs, and disability coverage. It also collected data on benefits for part-time workers as well as more detailed information on benefits costs, health care spending accounts, and retiree benefits. Respondents represented a cross-section of public and private sector organizations from all major industry categories. The briefing considers possible cost-savings measures that could reduce the cost burdens on retirees while controlling costs for employers.