Flexible retirement savings plans and employer matching can potentially provide lower-income workers with earlier retirement options despite the rising cost of living, according to a new report by Mercer. The report analyzed two scenarios for workers earning $50,000 with workplace retirement plans that include employer matching. Read: Employer matching key to supporting young workers’ retirement […]
The union representing roughly 500 employees at General Dynamics Land Systems Canada in London, Ont. has ratified a new three-year contract that includes pension and benefits gains. The agreement provides increased employer contributions to the defined benefit pension plan, including an additional $1 for production employees and an additional $1.20 for skilled trades workers in […]
Social media is breathing new life into employers’ pension communications, helping to make the benefit resonate with different audiences and offering organizations a far wider footprint than traditional channels. In some ways, the coronavirus pandemic was one of the key drivers of increasing the use of social media in workplace communications, says Jeff Pekar, director […]
While nearly three-quarters (72 per cent) of U.K. employees say it’s important their employer offers a pension plan that’s invested according to environmental, social and governance factors, half (47 per cent) say they don’t know whether their pension is invested in this way, according to a new survey by Scottish Widows. The survey, which polled […]
Canadians believe they’ll need, on average, $1.54 million to retire, down from $1.67 million in 2023, according to a new survey by the Bank of Montreal. The survey, which polled 1,500 employees, found three-quarters (76 per cent) are worried they won’t have enough money in retirement because of rising prices. Read: Canadians believe they need […]
Roughly two-thirds (64 per cent) of Canadian employees say they want a higher salary for their position, according to a new survey by Robert Half Canada Inc. The survey, which polled 1,500 professionals, found nearly all (92 per cent) were also concerned that inflation is going to outpace any salary increases. Indeed, David Bolton, a […]
Employers can help employees maintain harmony in their relationship on Valentine’s Day and beyond through financial wellness programs, says Connie Cooper, associate vice-president of executive financial counselling and education services at CWB Wealth. According to a recent survey by the Royal Bank of Canada, more than three-quarters (77 per cent) of Canadians said money is a […]
Amid a decline in employee bonuses, it’s important for employers to reassess their attraction and retention strategies through channels such as employee feedback, says Martin Fox, managing director at Robert Walters Canada. According to a recent Robert Walters survey, two-thirds (63 per cent) of professionals said they plan to leave their jobs this year if […]
An article on incoming changes to Alberta-based employers’ workplace violence and harassment policies was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. What Alberta-based employers need to know about incoming workplace violence, harassment policy changes 2. Gen Z, […]
Nearly half (46 per cent) of Canadian employees say they prioritize spending on their current lifestyle in place of saving for retirement, mainly due to paying off debts (38 per cent) or preferring to enjoy their life now (18 per cent), according to a new survey by IG Wealth Management. The survey, which polled more […]
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