retirement age – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 14:17:26 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 DC Investment Forum: Investing in appropriate TDFs can lead to higher than average account balances https://www.benefitscanada.com/events/conference-coverage/2024-dc-investment-forum-investing-in-appropriate-target-date-funds-can-lead-to-higher-than-average-account-balances/ Wed, 06 Nov 2024 12:56:49 +0000 https://www.benefitscanada.com/?p=162022 The majority of Canadian defined contribution plan members are invested in the appropriate target-date fund vintage and those who are may be better prepared for retirement, according to research by Fidelity Investments. The research, which examined data from Canadian record keepers to understand investors’ savings behaviours in a DC context, found about 70 per cent of […]

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]]> 20% of U.S. workers aren’t currently saving for retirement: survey https://www.benefitscanada.com/news/bencan/20-of-u-s-workers-arent-currently-saving-for-retirement-survey/ Fri, 23 Aug 2024 13:00:12 +0000 https://www.benefitscanada.com/?p=159141 A fifth (20 per cent) of U.S. workers aren’t currently saving for retirement, according to a new survey by Flexjobs. The survey, which polled more than 2,000 U.S workers, found nearly two-thirds (61 per cent) of men said they’ve been saving for retirement for a while, compared to 52 per cent of women. Across generations, […]

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]]> Survey finds U.S. employees’ average retirement savings decreases in 2024 https://www.benefitscanada.com/pensions/retirement/u-s-employees-average-retirement-savings-decreases-in-2024-survey/ Thu, 22 Aug 2024 13:00:29 +0000 https://www.benefitscanada.com/?p=159367 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 […]

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]]> 51% of U.S. pre-retirees, retirees delaying retirement, returning to the workforce: survey https://www.benefitscanada.com/news/51-of-u-s-pre-retirees-retirees-delaying-retirement-returning-to-the-workforce-survey/ Mon, 05 Aug 2024 13:00:18 +0000 https://www.benefitscanada.com/?p=158822 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 […]

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]]> 51% of U.S. women entering peak retirement years have less than $100k saved: survey https://www.benefitscanada.com/pensions/retirement/51-of-u-s-women-entering-peak-retirement-years-have-less-than-100k-saved-survey/ Thu, 25 Jul 2024 19:00:16 +0000 https://www.benefitscanada.com/?p=158361 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 […]

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]]> Just a third of U.K pension plan members feel they’ve saved enough to retire: survey https://www.benefitscanada.com/pensions/retirement/just-a-third-of-u-k-pension-plan-members-feel-theyve-saved-enough-to-retire-survey/ Fri, 26 Apr 2024 13:00:11 +0000 https://www.benefitscanada.com/?p=154722 Only a third (31 per cent) of U.K. pension plan members say they have sufficient retirement savings, down slightly from 32 per cent in 2022, according to a survey by Trafalgar House. The survey, which polled 2,000 adults, found 48 per cent believe they’ve saved much less than they need, up from 45 per cent. […]

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]]> Back to basics on investment glide paths https://www.benefitscanada.com/archives_/benefits-canada-archive/back-to-basics-on-investment-glide-paths/ Fri, 12 Apr 2024 12:53:46 +0000 https://www.benefitscanada.com/?p=154085 Simply put, a glide path is a calculation designed to support an employee’s desired retirement timeline through investments in a target-date fund. When an employee first joins a defined contribution pension plan with a target-date fund, they’re exposed to capital appreciation assets that offer the most attractive risk-adjusted returns in the wealth accumulation phase, typically […]

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]]> 47% of U.S. millennials are moderately confident they’ll save enough for retirement: survey https://www.benefitscanada.com/pensions/retirement/47-of-u-s-millennials-are-moderately-confident-theyll-save-enough-for-retirement-survey/ Tue, 09 Apr 2024 13:00:14 +0000 https://www.benefitscanada.com/?p=153983 Nearly half (47 per cent) of U.S. millennials are moderately confident in their ability to accumulate enough retirement savings, according to a new survey by software company Iralogix Inc. The survey, which polled more than 500 workers between the ages of 28 and 43, found 29 per cent said they have no confidence in their […]

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]]> My Take: More financial literacy needed to help employees achieve retirement goals https://www.benefitscanada.com/pensions/retirement/my-take-more-financial-literacy-needed-to-help-employees-achieve-retirement-goals/ Wed, 17 Jan 2024 14:00:06 +0000 https://www.benefitscanada.com/?p=150699 The skyrocketing cost of living has created increased need for employees to receive additional financial well-being information to meet their retirement savings goals. It’s increasingly difficult for most Canadians to put aside any savings above their monthly expenses, thanks in large part to the squeeze from high inflation and the effects of increased interest rates […]

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]]> Head to head: Is it time for DC plan sponsors to quit the balanced fund? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-is-it-time-for-dc-plan-sponsors-to-quit-the-balanced-fund/ Fri, 15 Dec 2023 13:59:57 +0000 https://www.benefitscanada.com/?p=148443 One defined contribution plan sponsor sings the praises of the traditional balanced fund, while another outlines a different option that better matches risk levels according to plan members’ life stages. Rob Jackett, senior director of finance and administration at Canadian Baptist Ministries Balanced funds are still relevant today for employer-sponsored savings plans. It’s important for employers […]

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