Moderators: Erica Hall, assistant vice-president for client relations, group retirement solutions; and Sharon Seifried, national vice-president for corporate accounts, group retirement solutions, at Manulife Financial Corp. While a significant portion of Canadians are in poor financial health, most don’t like to talk about money, particularly those with challenges in the area. As a result, addressing […]
With studies showing high levels of employee stress about their finances that’s translating into lost productivity, absenteeism or health issues, the time is right for financial wellness programs in the workplace. There’s an opportunity for employers to step in and offer much-needed guidance, but they could (and should) be helping workers with far more than the basic advice about […]
With studies suggesting some gaps in financial literacy among millennials, a panel at the 2018 Benefits and Pension Summit will tackle ways of educating and reaching younger plan members. Shannon Lee Simmons, founder of the New School of Finance and a member of the panel at the April 17 event at the Ritz-Carlton Hotel in Toronto, says a lot of […]
In order to understand how much to save, the starting point should be determining a retirement budget. Not only will such an exercise help employees better plan for the future, it may well give them a greater understanding of and appreciation for their employer-sponsored savings program and improve their financial wellness. More accurate retirement planning Even […]
The majority (86 per cent) of Canadian women have at least one challenge when it comes to finances and investment, according to a new survey by the Financial Planning Standards Council. Published to coincide with International Women’s Day, the survey found 38 per cent of respondents admit they know very little about finance and investment. And […]
Retirement income adequacy is a growing concern as more companies shift from defined benefit to defined contribution pension plans, average lifespans increase and coverage in the private sector declines. As a result, financial literacy has become a key area of focus for employers in recent years. And for good reason. A recent survey by the Canadian Imperial Bank […]
While 84 per cent of employers with capital accumulation plans didn’t intend to make any changes in 2017, many anticipated increasing their provision of financial advice services after a couple of years of decline in that area, according to a new report from Great-West Life Assurance Co. According to the 2017 Capital Accumulation Plan Benchmark report, very few […]
With a mature system of defined contribution pension plans, Australia offers some lessons for how Canada’s industry may evolve. At Benefits Canada’s upcoming Benefits and Pension Summit, Kim Hughes, head of product and services at QSuper, one of Australia’s largest superannuation funds, will share the plan’s experience in assisting members with financial well-being and retirement readiness. A […]
While retirement may not yet be at the top of millennials’ priority lists, it won’t be long before they arrive on the pension scene. How can the industry prepare for their arrival? And what might the rejuvenation look like? Let’s start by examining the pension world as we know it today. On the workplace front, […]
Building on a wellness program that covers employees’ overall well-being, Allstate Insurance Co. of Canada is introducing a trio of programs in January. “January can be a stressful and a tough month for many,” says Adrianne Sullivan-Campeau, the organization’s vice-president of human resources. “So you’re coming down from the holiday high, you have large bills coming in from your holiday purchases, […]