More than a third (40 per cent) of pre-retirees have a negative outlook on their life in retirement, the highest rates of negative retirement perception among survey respondents since 2014, according to the latest annual survey by Fidelity Investments Canada. The same percentage said their salary or earnings have decreased due to the coronavirus pandemic. […]
As you’ll read in this issue’s cover story, our 2020 CAP Member Survey was fielded at the end of March and early April, targeting respondents as they were beginning to face the financial impacts of the coronavirus pandemic. While we still asked our annual questions about capital accumulation plan members’ retirement readiness, we also wanted […]
Employers across Canada are facing a number of challenges in the midst of the coronavirus pandemic, including staying connected with employees and looking after their well-being. “Our people are our most important resource,” says Michelle Desnoyers, Canada benefits and human resources information services lead at Fluor Canada Ltd. “At such a challenging time, we want […]
As if preparing for retirement wasn’t already a steep challenge, along comes the coronavirus pandemic and its impact on the global economy, throwing up even more obstacles for capital accumulation plan members to maneuver. This year’s annual CAP Member Survey, supported by Actuarial Solutions Inc. and Morneau Shepell Ltd., fielded its questions between March 30 […]
With many Canadians dealing with financial stress, employers are uniquely positioned to help, but their financial wellness programs must go beyond just literacy. “[Everyone] has heard the term financial literacy, but as we know, it’s not enough,” said Saijal Patel, founder and chief executive officer of Saij Wealth Consulting Inc., during a Canadian Pension and Benefits Institute webinar earlier […]
A quarter (26 per cent) of Canadians indicated moderate to severe anxiety levels, 23 per cent said they felt lonely occasionally or most of the time in the past week and 20 per cent reported feeling depressed occasionally or most of the time in the past week, according to a new survey by the Centre […]
While Morneau Shepell Ltd.’s latest mental-health index had the same score — a negative 12-point decline from the pre-coronavirus pandemic benchmark of 75 — as last month’s index, the sub scores showed a modest improvement in anxiety countered by a larger increase in isolation. The main factors contributing to poorer mental health in the month […]
Defined contribution pension plan sponsors may face workforce planning challenges coming out of the coronavirus pandemic as older plan members whose account balances were hard hit by this year’s market volatility delay their retirements. “We saw a lot of presenteeism coming out of the [global financial crisis] — are we going to see that again?” asks […]
Alongside a struggling global economy, Canadian capital accumulation plan sponsors and members are facing unprecedented challenges. This year, Benefits Canada‘s annual CAP Member Survey fielded its questions between March 30 and April 1, reaching respondents as they were in the midst of coming to grips with the effects of the global coronavirus pandemic. As in […]
With the increase in job losses, illnesses, uncertainty and self-isolation, how is the coronavirus survey affecting Canadians’ emotional and psychological well-being? Half of Canadians reported a worsening of their mental health with 10 per cent saying it has worsened a lot, according to a new survey by the Angus Reid Institute. When asked to describe […]