retirement savings – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 20 Nov 2024 21:09:39 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Head to head: Are employers’ financial literacy initiatives translating into reality? https://www.benefitscanada.com/archives_/benefits-canada-archive/head-to-head-are-employers-financial-literacy-initiatives-translating-into-reality/ Fri, 15 Nov 2024 13:59:53 +0000 https://www.benefitscanada.com/?p=162361 One expert suggests employers bridge their knowledge gap by finding ways to turn education into action, while another says companies’ commitments to ongoing financial literacy is helping to do just that. Roland Chiwetelu (pictured right), associate director of financial wellness, Eckler Ltd. One expert suggests employers bridge their knowledge gap by finding ways to turn […]

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]]> How Meridian’s financial wellness offerings benefit employees, organization as a whole https://www.benefitscanada.com/archives_/benefits-canada-archive/how-meridians-financial-wellness-offerings-benefit-employees-organization-as-a-whole/ Fri, 15 Nov 2024 13:58:33 +0000 https://www.benefitscanada.com/?p=162701 As a financial institution that provides banking and wealth management services to customers, Meridian Credit Union ensures it also offers employees a comprehensive suite of services to support their financial wellness. This includes a defined contribution pension in which staff contribute a mandatory three per cent of annual earnings, with the employer contributing between three […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-107/ Fri, 08 Nov 2024 14:00:16 +0000 https://www.benefitscanada.com/?p=162539 An article on Samsung Electronics Co. Ltd.’s win in the Health/Wellness Program category for employers with fewer than 1,000 employees at Benefits Canada’s 2024 Workplace Benefits Awards was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Samsung’s multi-faceted well-being strategy leads to […]

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]]> 2024 DC Investment Forum: Young Canadians’ retirement savings at mercy of housing market, government inaction https://www.benefitscanada.com/events/conference-coverage/2024-dc-investment-forum-young-canadians-retirement-savings-at-mercy-of-housing-market-government-inaction/ Wed, 06 Nov 2024 12:59:47 +0000 https://www.benefitscanada.com/?p=161884 Young Canadian employees are facing a series of headwinds stemming from rising housing costs and decades of inaction by the federal government to support retirement savings, said Paul Kershaw, founder of not-for-profit organization Generation Squeeze and a policy professor at the University of British Columbia, during the keynote session at Benefits Canada’s 2024 Defined Contribution […]

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]]> 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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]]> 2024 DC Investment Forum: Panel: How employers are supporting plan members’ investment decisions amid rising cost of living https://www.benefitscanada.com/events/conference-coverage/2024-dc-investment-forum-panel-how-employers-are-supporting-plan-members-investment-decisions-amid-rising-cost-of-living/ Wed, 06 Nov 2024 12:51:23 +0000 https://www.benefitscanada.com/?p=161887 The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]

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]]> 61% of Canadians afraid of running out of money in retirement: survey https://www.benefitscanada.com/pensions/retirement/61-of-canadians-afraid-of-running-out-of-money-in-retirement-survey/ Tue, 05 Nov 2024 20:00:58 +0000 https://www.benefitscanada.com/?p=162297 Nearly two-thirds (61 per cent) of Canadians say they’re afraid of running out of money in retirement, according to a new survey by the Canada Pension Plan Investment Board. The survey, which polled more than 4,700 Canadian adults, found more than two-thirds (67 per cent) of employees aged 28 to 44 are afraid they’ll run […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-106/ Fri, 01 Nov 2024 13:00:23 +0000 https://www.benefitscanada.com/?p=162214 An article on Amazon Canada’s win in the Financial Wellness Program category at Benefits Canada’s 2024 Workplace Benefits Awards was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Amazon Canada’s new estate planning benefit key to financial wellness win 2. Half of Canadian employees behind […]

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]]> Half of Canadian employees behind in retirement savings: survey https://www.benefitscanada.com/pensions/retirement/half-of-canadian-employees-behind-in-retirement-savings-survey/ Mon, 28 Oct 2024 19:00:47 +0000 https://www.benefitscanada.com/?p=161901 Half (51 per cent) of Canadian employees say they’re behind in their retirement savings and 34 per cent are worried about not having enough money saved when they retire, according to a new survey by Manulife Financial Corp. The survey, which polled more than 1,500 employees and more than 500 retirees, found generation X (35 […]

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]]> CAAT pension plan’s optional savings account allowing members to consolidate retirement savings https://www.benefitscanada.com/pensions/retirement/caat-pension-plans-optional-savings-account-allowing-members-to-consolidate-retirement-savings/ Thu, 24 Oct 2024 13:00:59 +0000 https://www.benefitscanada.com/?p=161723 A new retirement savings vehicle could benefit members of the Colleges of Applied Arts and Technology’s pension plan by streamlining investment choice and maximizing their personal retirement savings, says Jason Vary, president of Actuarial Solutions Inc. This month, the CAAT pension plan launched an optional savings account that allows plan members to transfer in their […]

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