More than a third of Canadians aren’t confident they’ll reach their financial goal for retirement, according to a new survey by the Royal Bank of Canada. The bank, which surveyed 2,000 non-retired Canadians, found 16 per cent are very confident, 45 per cent felt somewhat confident and 39 per cent aren’t confident they’ll ever reach their retirement […]
Half of working-age Canadian women are worried they won’t have enough money to cover care and medical expenses once they retire, according to a new study by HSBC Bank Canada. Apart from medical needs, almost half (44 per cent) of this group said they’re afraid they’ll struggle to pay for basic necessities during retirement, compared with 37 […]
Just six per cent of Canadians cited saving for retirement as a financial priority in 2019, according to a new survey by CIBC. Paying down debt was the top financial priority for survey respondents, followed by keeping up with bills and getting by (14 per cent), growing wealth (12 per cent) and saving for a […]
Almost half (49 per cent) of U.S. employers are concerned that employees delaying their retirements will increase benefits costs, according to a new survey by Willis Towers Watson. The survey, based on responses from almost 150 large employers in the United States, also found 41 per cent of respondents are concerned that delayed retirement will increase salary costs and 37 per cent […]
Employers will rely more on technology to shape and analyze their future wellness offerings, according to a global workforce well-being survey by consultancy Buck. The survey, which polled more than 250 employers, found the majority of organizations are planning to offer workplace health competitions (62 per cent), stress management programs (60 per cent), workplace environment improvements (58 per cent), online courses and training for […]
While Canadians aged 18 to 34 are the most likely age group to believe their standard of living will increase in retirement, they’re also the least likely to have started saving for it, according to a study by the Ontario Securities Commission. The study, which polled 2,259 Canadians aged 18 and older, found 39 per cent of all […]
With many demands on employees’ money, could helping them build an emergency fund alongside their retirement savings make them more financially secure in the long run? Last week, Britain’s National Employment Savings Trust Insight began piloting its new sidecar savings program, which aims to optimize pension savings while helping workers maintain a reasonable amount of liquid savings […]
In helping employees save for their future, the Royal Bank of Canada recognizes the importance of meeting its staff where they are on their financial journeys. Over the past few years, the bank noticed employees weren’t saving enough into its pension plans. In particular, new hires and younger workers who were invited to join the […]
Currently in their 50s, 60s and 70s, baby boomers cover a wide age range — and their workplace pension plans are equally diverse. So determining what retirement looks like for this generation and helping them prepare is a significant challenge for employers. A good starting point is examining the pension world in which boomers currently […]
The majority (84 per cent) of employees would be interested in obtaining financial education programming in the workplace, according to a survey by the Canadian Payroll Association. The survey, which polled more than 5,000 employees from across Canada, found that, among those respondents who want financial education in the workplace, 40 per cent cited planning and saving for the future as […]