Half (51 per cent) of Canadians are planning to contribute to their registered retirement savings plans this year — a substantial increase since last year (18 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,600 adults, found half (51 per cent) said cost of living is […]
Employers can leverage choice and financial education to help close the retirement gap among the Black, Indigenous and people of colour community, says Janice Holman, a principal at Eckler Ltd. A 2021 study by the Canadian Centre for Policy Alternatives, which analyzed data from the 2016 census, found racialized seniors were most reliant on public […]
Canadians say they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, when Canadians estimated they’d need a nest egg of $1.4 million, according to a new survey by BMO Financial Group. The estimate is the largest since the bank first began surveying Canadians about their retirement expectations […]
A third (33 per cent) of Americans nearing retirement say they’re already drawing down their social security benefits, according to a survey by Allspring Global Investments. The survey, which polled more than 1,500 near-retirees and more than 1,200 retirees, found one in four retirees said they retired early due to job loss or a health […]
The third Monday in January, also known as ‘Blue Monday,’ is considered to be the saddest day of the year, as people contend with frigid weather and higher-than-normal credit card bills from the holiday season. Employers can use this occasion to check in with employees and plan their mental-health strategies for the year, says Janet […]
Just 35 per cent of Canadians aged 50 and older report they’re in a position to financially afford to retire, while a slightly larger percentage (37 per cent) say they aren’t and 25 per cent say it’s unclear, according to a new survey by the National Institute on Ageing and the Environics Institute for Survey Research. […]
The autumn is typically a busy one for the industry, but this year was especially eventful over at Benefits Canada. After a brief hiatus, the long-standing Healthy Outcomes Conference returned in October. This year, it was an in-person event designed for employers to exchange ideas and best practices for achieving improved employee health outcomes. Nearly […]
As employers increasingly see four generations represented in their workforces and a diverse range of employee needs, customization and flexibility in benefits and wellness plans are becoming key to creating healthy outcomes for all employees. The result of these offerings was “peace of mind for employees and their families and a sense of belonging in […]
Financial education and well-being initiatives are in the spotlight as employees face the stress of multiple financial headwinds — from inflation reaching a 40-year high to the strong likelihood of an impending recession — and search for advice and clarity. “There’s a very strong correlation between financial wellness and mental wellness,” said Dr. Jim Chung […]
Capital accumulation plan sponsors need to focus on providing lifetime retirement income for plan members amid the growth of decumulation solutions such as advanced life deferred annuities and variable payment lifetime annuities, according to a new report by the C.D. Howe Institute. It noted DC plan members currently have three main options to draw down […]