The average amount that U.S. adults have saved for retirement dropped slightly from US$89,300 in 2023 to $88,400 in 2024 and more than $10,000 from its five-year peak of $98,800 in 2021, according to a new survey by Northwestern Mutual Life Insurance Co. The survey, which polled more than 4,500 U.S. adults aged 18 or older, found a third […]
BDO Canada LLP employees who are considering taking a pottery course, planning a family vacation or even booking a caterer for their wedding can get a little financial assistance from the company’s newest benefit. The consultancy’s Do What You Love program, which launched in 2022, provides plan members with a set annual reimbursement amount for […]
Half (51 per cent) of U.S. pre-retirees and retirees say they’re considering either delaying or coming out of retirement, according to a new survey from F&G Annuities & Life Inc. The survey, which polled more than 2,000 adults aged 50 and older and who have more than US$100,000 in financial products/savings, found among respondents who […]
Seven in 10 U.S. workers between the ages of 40 and 80 with at least $100,000 in investable assets say they’d be “very” or “somewhat” likely to select an in-plan annuity option if it were available within their employer-sponsored retirement savings plan, according to a new report by LIMRA. It also found younger plan participants […]
Nearly two-thirds (64 per cent) of Americans say they wish they’d started saving for retirement when they were younger than age 25, according to a new survey by Voya Financial Inc. The survey, which polled more than 1,000 Americans adults, found more than half said they started saving for retirement when they were between ages 18 […]
Half (51 per cent) of women in the U.S. aged 65 who are entering their peak retirement years have less than $100,000 saved, with the percentage rising (67 per cent) among single women, according to a new survey by Artemis Strategy Group on behalf of non-profit the Alliance for Lifetime Income. The survey, which polled more than 2,500 consumers between […]
Nearly half (49 per cent) of executive leaders say financial stress often or very often prevents their frontline workers from doing their best work, according to a new survey by Dayforce Inc. The survey, which polled more than 6,900 workers, managers and executives from companies with frontline workers across the globe, found 62 per cent of […]
A majority (83 per cent) of U.S. workers say they’re concerned the increasing cost of living will make it harder to save for retirement and more than three-quarters (78 per cent) are concerned inflation will stay high, according to a new survey by the Employee Benefit Research Institute and Greenwald Research. The survey, which polled […]
Academics from the Canadian Centre for Policy Alternatives and the University of Victoria have released a report calling on the federal government to make permanent its new partial capital gains tax exemption for sales of existing firms to employee ownership trusts and extend it to worker cooperatives. In its 2024 budget, the federal government released further […]
When Phillip Kotanidis took over as chief human resources officer at Toronto’s Michael Garron Hospital in 2018, the financial well-being of staff wasn’t exactly high on his agenda. In such a fast-paced and potentially stressful workplace, money matters naturally took a backseat to the physical and mental health of the hospital’s staff, who are members […]