Online gig economy platform Taskrabbit Inc. is providing U.S. gig workers with retirement benefits through a new initiative. The program, in partnership with financial services firm Robinhood Markets Inc., provides workers with access to a match program for individual retirement account contributions. During the first year of enrolment, workers receive a two per cent match on […]
PepsiCo Canada is baking flexibility into its retirement savings benefits to support employees’ financial security amid the rising cost of living. To help employees reach their retirement savings goal, the food and beverage company is matching employees’ bonuses up to 3.5 per cent, with the employer contribution automatically directed into their defined contribution pension plan. […]
Younger workers in the U.S. are feeling less confident about their financial security compared to those from older generations, according to a report by LIMRA. The report found more millennials (55 per cent) and generation Z (44 per cent) workers were concerned about having enough money saved for a comfortable retirement, compared to generation X […]
Desjardins Insurance is marking Financial Literacy Month with a series of budgeting workshops for employees and an interactive game to help improve financial literacy. The workshops cover topics such as using a budget to manage cash flow, how to plan for future goals and how to save on grocery bills amid rising inflation and food prices. […]
When Desjardins Insurance launched a study to redefine employee health and well-being, an unexpected finding came through loud and clear: Canadian employers and insurers should be paying much closer attention to millennial plan members. Millennials are a cohort of people born between 1980 and 1996. Since 2016, the generation has comprised the largest segment of […]
As Canadians face the dual effects of the rapidly rising cost of living and interest rates, the resulting financial stress has major implications for plan sponsors, said Valérie Fernandez, senior advisor of workplace health best practices and strategic support for group insurance at Beneva, during Benefits Canada‘s 2023 Healthy Outcomes Conference in October. Indeed, employers […]
During Financial Literacy Month, the Royal Bank of Canada is supporting employees’ financial wellness through a new website that provides financial education and support. The My Money Matters website contains more than 1,000 articles on financial well-being and was designed to de-stigmatize conversations about money, says Elvis Wong, the bank’s director of financial well-being. “We […]
Lululemon Athletica Inc.’s extensive financial wellness offerings led to a win at Benefits Canada‘s 2023 Workplace Benefits Awards on Oct. 20. The apparel company won in the Financial wellness category for its Fund Your Future program, which offers financial benefits and resources to support employees in making informed decisions no matter where they are in their financial journey. […]
As Canadians struggle to save amid the rising cost of living, employers play a crucial role in facilitating savings options for their employees, says Doug Crowe, vice-president of RBC Group Advantage, the Royal Bank of Canada’s group retirement division. “The first important step employers can make is deciding to sponsor a group savings plan for employees, which […]
More than a quarter (28 per cent) of male employees in the U.S. report a reduction in their stress levels due to their employer’s financial wellness programs, compared to 18 per cent of women, according to a new survey by HerMoney Media Inc. and Principal Financial Services, Inc. The survey, which polled 900 U.S. employees […]