An article on how employers can support workers’ savings amid the rising cost of living was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Employers play crucial role in supporting employees’ savings amid rising cost of living: expert 2. Average cost of employer-sponsored health benefits expected […]
Only 17 per cent of U.S. employees aged 50-plus and 23 per cent of retirees are very confident they’ll be able to maintain a comfortable lifestyle throughout retirement, according to a new survey by the Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute. The survey, which polled more than 10,000 U.S. employees, […]
A third (34 per cent) of U.S. women say they don’t have access to an employer-sponsored retirement plan, while a fifth (22 per cent) say they’ve emptied their employer-sponsored retirement account to meet non-retirement expenses, according to a new survey by software company Iralogix Inc. The survey, which polled more than 200 women, found nearly […]
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 […]
U.S. workers forecast they’ll need an average $4,940 monthly income to enjoy a comfortable retirement, according to a new survey by Schroders. The survey, which polled roughly 2,000 employees, found a third (32 per cent) believe they’ll need to replace between 50 per cent and 74 per cent of their final paycheque with other sources […]
With Canadians’ financial priorities shifting alongside a turbulent economic climate, including inflation levels not seen in decades and a never-ending rise in the cost of living, it isn’t surprising capital accumulation plan members’ commitment to retirement savings is taking a hit. Benefits Canada’s 2023 CAP Member Survey found just 41 per cent of respondents rated […]
Just over half (56 per cent) of Americans feel on track for retirement, an 11 per cent drop in confidence compared to 2022, according to a new survey by BlackRock Inc. The survey, which polled more than 450 large defined contribution pension plan sponsors, 1,200 workplace retirement plan savers, 1,300 independent savers and 300 retired […]
Two-fifths (41 per cent) of U.S. employees are cashing out their 401(k) plan savings when they leave a job, with 85 per cent draining their entire accounts, according to a new report by the University of British Columbia, Texas State University and the University of Colorado Boulder. The report, which analyzed data from more than […]
While more than half (55 per cent) of U.S. generation X employees participate in an employer-sponsored retirement savings plan, nearly two-thirds of men (62 per cent) and women (64 per cent) participating in these plans say they’ve saved less than 10 per cent of their retirement savings target, according to a new report by the […]