We know each industry, workforce and regulatory environment is unique

Our consultants take a top-down, tested and data-driven consultative approach to help any organization deliver maximal value per unit spend to their people – while looking to the future to see how trends like the gig economy will impact employer and employee needs.

Custom solutions to best support employee financial wellbeing

We use data, plus our technical and market insight to guide you in how best to meet your specific employee needs in the context of your organizational objectives and constraints. We take the broad view and won’t confine your thinking to boxes.

• From... simple RRSP and TFSA plans
• To... interaction with salary and incentives
• To... employee financial resilience and emergency fund accounts
• To... executive arrangements
• To... sponsored long-term DB, DC, hybrid and target benefit pension plan designs
• To... frameworks to optimally integrate and connect the elements

We also bring our holistic expertise, tools and training to bear to help ensure effective implementation, employee understanding and appreciation of the resulting solution.

Working to your objectives and constraints, our expert teams will collaborate to help you control unwanted risks, seize upside potential and reduce unnecessary costs

Make the right decisions

We co-develop a risk management framework that enables you to make accurate, informed decisions. Decipher any financial and demographic risk to your plan, and what it means to the needs of your organization.

We provide solutions for:

• Private sector pension plans
• Public sector pension plans
• Defined benefit and defined contribution plans
• Foundations and endowments
• Also see our PFaroe technology

Avoid issues down the road

Don’t leave a question mark over the future. We help assess any risk today and enable appropriate, timely action when needed.

Our ongoing pension risk management process then monitors performance and enables the governance required to adapt to changing external dynamics and help you stay on track.

TELUS Health (formerly LifeWorks) asset-liability modelling national team of experts and their tools enable organizations to build fully customized investment and risk management strategies to deliver the best long-run outcomes and increase resiliency, all considering your specific risk tolerances both inside and outside the pension plan. 

Our related services include

• Outsourced CIO 
• Investment services 
• Pension risk transfer 
• Design & strategy 
• Actuarial services

Efficiently meet your regulatory needs for funding and accounting valuations, and use our extended insights to improve resiliency and outcomes for your organization and your plan members.

Collaborating to meet your distinct needs  

We know the actuarial analysis and market dynamics, you know your organization. Our consultants collaborate with you to develop funding strategies, actuarial reporting, real-time monitoring, and financial risk management that meet the needs and recognizes the constraints of you and your stakeholders.

Together we build a custom approach that enables:

• Adequate and sustainable plan design
• Management of funding and financial/demographic risk
• Demonstrably strong governance
• Effective financial reporting and market disclosures around your plans
• Membership insights to support effective communication programs and HR planning

The edge to make impactful decisions

Telus Health (formerly LifeWorks) helps organizations extract value from actuarial insights:

• Support employee engagement and appreciation of plan value
• Stay resilient and competitive by focusing on the most impactful steps to manage cost and risk
• Make properly costed and informed decisions that stand up to scrutiny
• Understand and respond to the impact of demographic profiles and shifts in your plan membership
• Be alert to risks and opportunities in real time

Meanwhile, employees gain retirement security, peace of mind, and a roadmap to financial wellness today and in retirement.

Deep, broad expertise

With over 50 years of providing custom actuarial consulting, we manage all evolving complexities of legislation and regulations – so you don’t have to. 

We support public and private sector organizations in the actuarial aspects of: 

• Strategic planning and benefit design
• Funding valuations and budgeting
• Pension and post-employment benefit accounting valuations and reporting
• International social security, life and health & insurance
• Risk management
• Governance and compliance
• Executive and special programs
• Workers' compensation
• Mergers and acquisitions

We help companies contain costs, mitigate risks and operate efficiently – while engaging employees and helping them achieve financial wellbeing.

Caring for unique organizational needs

Each company has different goals, resources, and makeup. Our consultants work closely with each company to build, guide and monitor their plan, while ensuring employee programs are objective-driven. 

Widespread expertise in pension and savings

You name it, we can deliver: 

• A stand-alone DB to DC design – accumulation or decumulation
• Modelling and decision support tools
• Administrator evaluation and selection
• Investment beliefs, fund menu design, and manager search
• Member education and financial coaching
• Fiduciary education training
• Governance framework and policy support
• Continuous monitoring of all program elements
• Program efficiency studies
• Membership behaviour and adequacy studies
• Decumulation feasibility studies
• Workforce resiliency savings programs

Unique insights-driven approach

Our holistic consulting approach solves each key issue in order for an organization to build the best programs: 

• Plan design and investment
• Administration technology
• Member engagement
• Communications
• Governance implications

Empowering informed decisions

Leverage TELUS Health (formerly LifeWorks) legal support and gain a new level of confidence in making the right decisions.

Our lawyers and notaries specialize in the finer points of pension and benefit plans, so you remain compliant, achieve goals, provide security for plan members and avoid surprises for your organization. 

Comprehensive expertise in all areas

Arrange solid retirement and benefits plans with your members with our cross-Canada experts ready to help design, roll out and govern new policies. We are there at every step.

Step 1: Develop

We will help develop and implement:  

• Pension and benefits plans
• Trust agreements
• Annuity, longevity insurance, and funding documents
• Policies and member communications
• Letters of credit
• Conversions, mergers, and more

Step 2: Administer

We will advise on key matters, such as:  

• Plan amendments
• Legislative and regulatory updates
• Investments rules
• Plan administration requirements
• Full and partial windups
• Trend analysis and specific issue resolution
• Non-pension benefit arrangements
• Income tax needs

Step 3: Govern

And we ensure you stay on course with:  

• Auditing plan governance
• Governance frameworks and reviews
• Policies and procedures
• Training on key issues
• Benchmarking
• Integrated risk management and monitoring
• Quebec or other bylaws
• Delegated support services

Keeping you safe from risk 

We help you prudently and holistically manage risk and ensure you comply with legislative and regulatory requirements, avoid surprises and prevent unexpected legal problems. 

Our consultants in compensation, communications, retirement and wellbeing will integrate custom plans aligned to your business objectives and culture

Maximize engagement and productivity

Forward-thinking businesses require innovative, flexible strategies for compensation and rewards. Our experts design complete, customized solutions that get noticed – and make a measurable impact on employee retention and attraction.

Our national compensation database

We have our own proprietary compensation database to help with the benchmarking of the roles across your organization. The survey runs annually and has more than 600 current participants and 1,200 benchmark job models. We have the ability to access both national and regional market data; in addition, we conduct custom surveys, annual salary trends and periodic stand-alone reward surveys to help you make better decisions.

These surveys and databases provide us with stable and robust comparator groups to facilitate client benchmark studies. Further, we are experts in the design, administration and reporting of public and custom surveys data collection, affording us a strategic advantage to create the most appropriate peer groups tailored to our clients’ needs.

Stay ahead of the competition

Our value-driven tactics ensure your biggest investment is protected. TELUS Health (formerly LifeWorks) specializes in:

• Executive compensation
• Broad-based compensation
• Total rewards surveys