With the ongoing coronavirus pandemic raising economic concerns, the Arthritis Society is taking a responsive approach with its Financial Literacy Month initiatives during the month of November. “We’re reading the pulse,” says Cheryl McClellan, the organization’s chief operating officer. “We haven’t seen a lot of people stressed directly in our organization, but generally, we understand […]
While working Canadians expect to retire, on average, at age 62, they’ll require $878,000 in retirement savings, more than twice the amount of current retirees, according to a new study by Mackenzie Investments. It found 45 per cent of respondents who are still working said they plan to continue doing so in some capacity, compared […]
Retirement income can be sliced into three broad categories: what an individual receives from their employer, what they receive from the government and everything else. While plan sponsors are naturally most concerned with what they provide for plan members, including all forms of income in the conversation is integral to properly planning for retirement, says […]
Retirement and savings programs should motivate plan members to think about how they want to spend their time in retirement as well as their money. “If we focus in just on the financial part of the equation and then [plan members] get to that point where [they’re] retiring, not only might they not have enough money to do the […]
Retirement and savings programs should motivate plan members to think about how they want to spend their time in retirement as well as their money. “If we focus in just on the financial part of the equation and then [plan members] get to that point where [they’re] retiring, not only might they not have enough […]
With financial worries swirling through the minds of many employees as the economic impacts of the pandemic rage, some segments of employee populations may be feeling worse about their finances than others and it’s important for employers to be able to discern who’s struggling the most, according to a new report from U.S.-based think tank Financial […]
When it comes to retirement benefits like the Canada Pension Plan and old-age security, the majority of Canadians don’t understand their options for deferral, according to a new survey by Employment and Social Development Canada. The survey, which polled 8,622 Canadians, found just 36 per cent are correctly aware of the deferral options for CPP […]
Even before the coronavirus pandemic, U.S. employers were beefing up their financial well-being offerings and starting to see positive results, according to a new survey by Buck. The survey, which polled more than 150 U.S. organizations, found employees’ financial stress is a top motivator for companies to invest in financial well-being programs. As well, 40 […]
Among Canadians with a retirement plan, 77 per cent said they’re confident they’ll have enough money to last the rest of their lives, compared to 52 per cent without one, according to a new survey by Franklin Templeton Canada. The survey, which was conducted in February, prior to the coronavirus pandemic, also found that among […]
A new paper is evaluating how global retirement systems are faring in the wake of the coronavirus pandemic and what reforms will be required to facilitate the retirements of future generations. The paper, ‘Building better retirement systems in the wake of the global pandemic,’ by Olivia Mitchell, a professor and executive director of the pension research council […]