While the majority (87 per cent) of defined contribution pension plan sponsors feel their members are somewhat or very prepared for retirement, only 63 per cent of members feel the same way, according to a new survey by Voya Investment Management. The survey, which polled 305 U.S. DC plan sponsors, 205 plan specialists and 500 […]
An article on how Ontario’s proposed pay transparency legislation will impact employers was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. How Ontario pay transparency legislation will impact employers 2. Expert panel: How interest rates impact DB pension plans 3. How employers can shift younger workers’ ‘soft saving’ […]
Discouraged with the state of the current economy, more and more younger workers are abandoning saving for retirement and focusing on ‘soft saving.’ Soft saving is when employees, many of whom started their careers later than previous generations, decide to take a more laid-back approach to saving for the future, rather than adopt the FIRE concept — […]
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 […]
A group life insurance policy can support employee financial and mental wellness as they pay off debt, mortgages and other liabilities, says Kevin Dorse, assistant vice-president of strategic communications and public affairs at the Canadian Life and Health Insurance Association. “Knowing they have a confirmed payout amount upon death gives comfort to an employee and […]
Nearly two-thirds (60 per cent) of global defined contribution pension plan members say they’re thinking differently about retirement amid rising inflation, according to a new survey by MFS Investment Management. The survey, which polled roughly 4,000 global DC plan members, found workers younger than age 45 were more likely to say they’ll need to save more […]
Canadian employers say competition for talent (84 per cent), rising mental-health issues (63 per cent) and a focus on inclusion and diversity (48 per cent) are the top factors influencing their benefits strategy, according to a new survey by WTW. The survey, which polled more than 5,200 employers representing 22.9 million employees around the world, found Canadian employers […]
Roughly half of online gig workers across the globe don’t have a retirement plan, a percentage that increases among Venezuelan (73 per cent) and Nigerian (75 per cent) workers, according to a new report by the World Bank Group. The report, based on surveys across 17 countries, found online gig work is growing globally, particularly in the developing world, creating an important […]
Nearly three-quarters (72 per cent) of U.S. employees with strong longevity literacy are saving for retirement on a regular basis, compared to 58 per cent with weak longevity literacy, according to a new survey by the Teachers Insurance and Annuity Association of America Institute and the Global Financial Literacy Excellence Center at the George Washington University […]
In 2022, Xero sent out a global survey to all of its employees asking them to rank the most important components of its total rewards program, from time off to flexible working policies, salaries to employee benefits. The software company’s Canadian employees ranked health benefits as one of the most important aspects of total rewards. […]