In tandem with Financial Literacy Month, Great-West Life Assurance Co. is adding Koho’s full-service spending account to select group retirement savings plans. The accounts are paired with a prepaid, reloadable Visa 0.5 per cent cash-back card and an integrated mobile app, which provides users with real-time insights into their spending habits, prompting real behavioural changes. […]
Niagara Casinos took home the mental-health award at Benefits Canada‘s 2019 Workplace Benefits Awards in Toronto on Oct. 17 for its thorough and comprehensive approach to supporting its employees’ mental health. Its strategy, which is focused on awareness and prevention, aims to create and support a mentally healthy workplace, remove the stigma and provide resources […]
Imagine a scenario where an employee can’t afford to opt into their company’s defined contribution pension plan because of debt. Regardless of whether it’s a mortgage, student loan or credit card debt, the employee has more urgent short-term priorities, so saving for retirement is being pushed to the back-burner. How can employers ensure they’re talking […]
Rise People Inc. is partnering with Planswell Inc. to expand on its employee health and wellness offerings. Planswell offers employees the ability to create free online financial plans and receive personalized advice from financial planning professionals to help them grow their wealth and reduce debt. Read: Financial wellness programs must go beyond education: survey “As […]
Financial stress is preventing employees, employers and the economy from reaching full potential, according to a survey by the Canadian Payroll Association. The survey found 43 per cent of workers are so financially stressed their performance at work is suffering. It noted the costs of increased absenteeism, turnover and benefits claims, as well as decreased job satisfaction and […]
Mercer and Wealthsimple Inc. are teaming up to create a digital saving and investing platform for Canadian employees. Mercer Invest Wise, which is a voluntary savings tool, is intended to be included in a total rewards package. Accessible online and as a mobile app, it allows employees to manage various savings and investment accounts, such as their […]
In preparing for retirement, women have to contend with the salary gap, barriers to career continuity and more limited access to employer-sponsored pension plans, making them more stressed about their financial futures than men, according to a recent report by Invesco Canada Ltd. The report set out three key ways employers can engage on this issue. […]
Shaw Communications Inc.’s Kristina Humphreys talks financial well-being, plan flexibility and league hockey. Q. What top challenges do you face in your role? A. A big challenge is finding effective ways to communicate with our employees because it’s across many locations, demographics, different career points, etc. Also, retirement may feel very far away for a […]
A third of employees don’t expect to ever reach full retirement, according to a new survey by Aon. The survey, which polled 1,000 Canadians at all stages of their careers, found more employees are postponing retirement due to financial concerns. The majority of participants said they don’t expect to fully retire all at once, with only 34 per cent […]
While educational content is a key component of financial wellness programs, they must also be measurable and embrace technology to help defined contribution plan members move easily from ambition to action, according a new report by the SPARK Institute and Cerulli Associates. The report, which combined feedback from 26 U.S. record keepers representing $5.9 trillion in […]