For its second annual Pension Awareness Day on Feb. 15, the Financial Services Regulatory Authority of Ontario is holding information sessions for its employees to learn more about their pension plan. Even people who actually have an employer-sponsored pension plan aren’t aware of the value of those benefits, says Andrew Fung, executive vice-president of pensions […]
Slightly more than a third (35 per cent) of working Canadians aged 50 and older say they can afford to retire when they want, according to a new report by the Toronto Metropolitan University’s National Institute on Ageing. The survey, which polled more than 5,800 Canadians aged 50 and older, found two-fifths (39 per cent) said […]
More than half (51 per cent) of U.S. workers say they’d like to see fully paid health-care premiums as a financial benefit from their company, according to a new survey by CNBC and SurveyMonkey. It found nearly two-fifths of respondents said they’d also like to see 401(k) matching (37 per cent) as well as health […]
A survey on the retirement readiness of Canadian workers and a looming retirement crisis was the most-read pension story on BenefitsCanada.com this year. Here are the 10 most popular pension news stories of 2023: 1. Survey finds 44% of Canadian pre-retirees have less than $5,000 in savings 2. Ford, Unifor agreement includes significant DC pension improvements, transition to […]
Just 14 per cent of near-retirees say they can retire with confidence and only five per cent say they’ve sought financial advice from their employer, according to a new survey by Deloitte. A third (31 per cent) of near-retirees said they’ll need to rely on the Canada Pension Plan or Quebec Pension Plan to sustain their […]
Many plan members are experiencing risk factors related to poor mental, physical and financial well-being, but often don’t know they can turn to their benefits plans for help. Indeed, when Canada Life’s disability claims report asked plan members going on disability whether they sought out counselling through their benefits plans, more than half said they […]
Hydro Ottawa Holding Inc. is tailoring its benefits and wellness programs to its unique demographics to more effectively support employee well-being, said Donna Burnett Vachon, the company’s director of change and organization development, during Benefits Canada‘s 2023 Healthy Outcomes Conference in October. The company has four subsidiaries, with each doing slightly different types of work, […]
As Canadians face the dual effects of the rapidly rising cost of living and interest rates, the resulting financial stress has major implications for plan sponsors, said Valérie Fernandez, senior advisor of workplace health best practices and strategic support for group insurance at Beneva, during Benefits Canada‘s 2023 Healthy Outcomes Conference in October. Indeed, employers […]
More than half (57 per cent) of U.S. women say they don’t earn enough to save for retirement and 26 per cent say they agree strongly with this statement, according to a new survey by the Transamerica Institute. The survey, which polled more than 5,600 employees, found while a similar percentage (50 per cent) of […]
During Financial Literacy Month, the Royal Bank of Canada is supporting employees’ financial wellness through a new website that provides financial education and support. The My Money Matters website contains more than 1,000 articles on financial well-being and was designed to de-stigmatize conversations about money, says Elvis Wong, the bank’s director of financial well-being. “We […]