While more than half (58 per cent) of employees within 10 years of retirement are contributing to retirement savings, only about a third (30 per cent) have established a thorough financial plan, according to a new survey by Age Wave and Edward Jones Canada. The survey, which polled more than 1,000 Canadians aged 45 or […]
Pension and retirement plan members in Saskatchewan can now designate beneficiaries through electronic means. The provincial government recently passed a series of amendments regarding the electronic handling of legal matters. Bill 56 specifically allows individuals to name beneficiaries electronically for certain types of plans including an employee pension, retirement, welfare or profit-sharing fund or plan, […]
Employers are increasingly facing a tight labour market and need to compete for top talent with a stronger benefits offering. Using technology to compare offerings across insurance companies and other providers can ensure employers have a cost-competitive plan that speaks to employees’ needs, said Matt Lister, co-founder and chief executive officer at CloudAdvisors, during Benefits […]
With a record number of Canadians nearing retirement, employers can support workers through retirement planning initiatives and education, says one expert. According to a report released last week by Statistics Canada, more than a fifth (22 per cent) of Canadian employees are aged 55 to 64. It also found more Canadians are aged 55 to 64 than young adults […]
Almost a third (29 per cent) of Canadians believe their employer-sponsored pension plan will be their primary source of retirement income, while 15 per cent said they’re relying on government pension plans, according to LifeWorks Inc.’s latest financial well-being index. The survey, which polled 3,000 Canadian employees, found the overall financial well-being score decreased slightly […]
Almost half (44 per cent) of Canadians agreed the coronavirus pandemic has negatively impacted their ability to save for retirement and, as a result, 31 per cent have changed their financial priorities, according to a new survey by Edward D. Jones & Co. The survey, which polled more than 1,500 adult Canadians, also found 33 […]
It’s no secret there’s a looming retirement savings gap among Indigenous and racialized Canadian seniors and their white counterparts. Indeed, a June 2021 study by the Canadian Centre for Policy Alternatives found data from the 2016 census showed white seniors’ income from private pension sources — such as registered pension plans and registered retirement savings […]
Both employees and human resources executives are seeing the impact of personal financial stress on work productivity and performance during the coronavirus pandemic, according to a new survey by Morgan Stanley at Work. While 82 per cent of employer respondents said they’re worried that personal financial issues are affecting employees’ work productivity, 64 per cent of […]
The Council of Parties to the United Nations’ climate convention, known as COP26, which is currently underway in Glasgow has put climate change on the global stage and top of mind for many employers and employees. There are many elements an employer can take into consideration when crafting a benefits strategy — competitiveness in the […]
Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]