How might pensions respond?

There is clearly more that workplace pensions can do to meet the retirement needs and enable the retirement aspirations of Canadians. But, what should pensions do?
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Modernization is a broad topic and will naturally manifest differently across different organizations; however, initiatives that modernize enabling technology, support action amid complexity, strengthen the core and emerging capabilities, and shift the cultural foundations of an organization should be prioritized.
Pensions have a significant voice in our society, and meaningful convening power. As fiduciary representatives of large numbers of stakeholders and stewards of deep pools of long-term capital, they are well-positioned to advocate for the broader needs of their stakeholders and society at large – on topics including financial services, healthcare, housing, and the environment.
Pensions can act to achieve outcomes in pension-related areas for their stakeholders, and society – through synergies with investment, commercialization of existing offerings, or the use of organizational expertise to build and run new platforms. The Canadian pension industry has a strong tradition of innovation for positive impact – and bold aspirations are critical to activating this legacy to deliver the next generation of change.
You can learn more in the full report.