financial stress – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 22:24:05 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Survey finds 56% of Canadian workers reporting reduced productivity due to financial concerns https://www.benefitscanada.com/benefits/health-wellness/56-of-canadian-workers-reporting-reduced-productivity-due-to-financial-concerns-survey/ Fri, 27 Sep 2024 19:00:45 +0000 https://www.benefitscanada.com/?p=160629 More than half (56 per cent) of Canadian employees say they’re less productive at work due to financial concerns, according to a new survey by the National Payroll Institute. The survey, which polled 1,500 employees, found the percentage of Canadians who consider themselves financially stressed increased to 41 per cent from 37 per cent in […]

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]]> Plan members’ financial strain a call to action for plan sponsors: 2024 BCHS report launch https://www.benefitscanada.com/benefits/health-wellness/plan-members-financial-strain-a-call-to-action-for-plan-sponsors-2024-bchs-report-launch/ Mon, 23 Sep 2024 13:00:30 +0000 https://www.benefitscanada.com/?p=160368 Canadian health benefits plan members are increasingly feeling financially strained, according to the 2024 Benefits Canada Healthcare Survey — a finding that experts say should be a call to action to employers to include more financial wellness supports in benefits plans. Personal finances has remained plan members’ top stressor for the past two years, with […]

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]]> How employers can support working grandparents’ financial wellness, retirement readiness https://www.benefitscanada.com/benefits/health-wellness/survey-finds-working-retired-canadian-grandparents-risking-financial-future-to-support-family/ Fri, 09 Aug 2024 13:00:03 +0000 https://www.benefitscanada.com/?p=159070 Working grandparents who are providing financial support to children and/or grandchildren are risking their own plans for retirement, says Craig Bannon, director of financial planning centre of expertise at the Royal Bank of Canada. “[They might need to] delay their retirement to extend their earning years or continue to work on a part-time basis in […]

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]]> Majority of Canadian employees recognize link between financial well-being, mental health: report https://www.benefitscanada.com/benefits/health-wellness/majority-of-canadian-employees-recognize-link-between-financial-well-being-mental-health-report/ Tue, 23 Jul 2024 13:00:09 +0000 https://www.benefitscanada.com/?p=158301 Nearly all (95 per cent) Canadian employees recognize their financial situation significantly impacts their personal well-being and 92 per cent of human resources leaders agree, according to a new report by Dialogue Health Technologies Inc. The survey, which polled more than 1,600 working Canadians, across all age groups and provinces, found more than a quarter […]

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]]> U.S. employees feeling confident about retirement savings: survey https://www.benefitscanada.com/pensions/retirement/u-s-employees-feeling-confident-about-retirement-savings-survey/ Fri, 10 May 2024 13:00:01 +0000 https://www.benefitscanada.com/?p=155397 While a majority of U.S. employees say they’re very confident (39 per cent) or confident (29 per cent) they’re doing a good job preparing for retirement, nearly two-thirds (62 per cent) either strongly or somewhat agree that preparing for retirement makes them feel stressed, according to a new survey by the Employee Benefit Research Institute. […]

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]]> 2023 CAP Suppliers Report: How are CAPs evolving to meet the financial needs of different generations? https://www.benefitscanada.com/archives_/benefits-canada-archive/2023-cap-suppliers-report-how-are-caps-evolving-to-meet-the-financial-needs-of-different-generations/ Fri, 15 Dec 2023 13:57:38 +0000 https://www.benefitscanada.com/?p=148466 With more than 40,000 employees across the country, Amazon Canada is a microcosm of the wider national workforce. Comprising five generations, the online retailer’s workers represent a wide spectrum of savings goals and related challenges. And to support these goals, it has developed a diverse array of options to meet staff at every stage of […]

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]]> Worker demand for DB pension plans could increase as financial concerns continue: CAAT https://www.benefitscanada.com/pensions/defined-benefit-pensions/worker-demand-for-db-pension-plans-could-increase-as-financial-concerns-continue-caat/ Thu, 14 Dec 2023 16:00:50 +0000 https://www.benefitscanada.com/?p=148823 A resurgence of defined benefit pension plans in Canada could be on the horizon, according to a report from the Colleges of Applied Arts and Technology pension plan. It found most Canadian workers are looking for retirement features that are most prominent in a DB plan, including monthly and predictable retirement income that’s guaranteed for […]

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]]> 2023 Healthy Outcomes Conference: Supporting employees’ financial well-being amid rising inflation, interest rates https://www.benefitscanada.com/events/conference-coverage/2023-healthy-outcomes-conference-supporting-employees-financial-well-being-amid-rising-inflation-interest-rates/ Mon, 20 Nov 2023 12:54:53 +0000 https://www.benefitscanada.com/?p=147133 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 […]

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]]> 84% of employers say they’re concerned about a retirement income crisis: survey https://www.benefitscanada.com/pensions/retirement/84-of-employers-say-theyre-concerned-about-a-retirement-income-crisis-survey/ Tue, 31 Oct 2023 13:00:07 +0000 https://www.benefitscanada.com/?p=146099 As a majority (84 per cent) of Canadian employers say they’re concerned about an emerging retirement income crisis, they also agree that, without access to employer-sponsored pension plans, workers will become a burden on the taxpayer (82 per cent) and the economy will suffer (79 per cent), according to a new survey by the Healthcare […]

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]]> Gen Z workers want to retire at 61, but 99% facing obstacles to saving for retirement: survey https://www.benefitscanada.com/pensions/retirement/gen-z-workers-want-to-retire-at-61-but-99-facing-obstacles-to-saving-for-retirement-survey/ Thu, 19 Oct 2023 13:00:01 +0000 https://www.benefitscanada.com/?p=145506 While U.S. generation Z workers want to retire at age 61, 99 per cent of these employees say they’re facing obstacles to saving for a comfortable retirement, a nine per cent increase from 2022, according to a new survey by Charles Schwab & Co. Inc. The survey, which polled 1,000 401(k) plan participants, found the […]

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