Case Study: TWCC achieves significant pension fee reductions and improved retirement savings for First Nations with TELUS Health

DC expertise and flexible platforms combine to significantly reduce pension fees

TIPI (TWCC Insurance Partners LP) is an Aboriginal financial institution created to provide pension and benefit plans tailored to the needs of First Nations organizations and their members. Faced with hundreds of separately registered, small defined-contribution plans that were virtually identical and charged high fees, TIPI needed a solution that would lower costs through scale, better meet cultural and literacy needs, and create economic opportunities for Aboriginal communities.

TIPI partnered with Morneau Shepell to implement a highly customizable DC platform combining common recordkeeping, investment, custodial and communications systems, including tailored target-date funds and editable messaging for members. Within six months the program attracted $40–50 million in assets, significantly reduced pension fees with savings passed to member accounts, and created local employment and career opportunities in community-run service centres.

TWCC

Chris Maxfield

Vice-President and Director