Every day, it seems the news includes a story or two about the economy and whether or not a recession is coming. At the same time, with interest rates, inflation and day-to-day costs rising, employees may already be feeling anxious about their ability to meet their financial obligations. Some employees will be feeling concerned about […]
While the majority (80 per cent) of U.S. retirement plan sponsors rate their record keeper as excellent or very good, they’re also seeking more support for plan members’ financial wellness, according to a new survey by Greenwich Associates. The survey, which polled 145 U.S. retirement plan sponsors and 15 U.S. consultants, found among plan sponsors, […]
An article on Telus Communications Inc.’s win in Benefits Canada‘s 2022 Workplace Benefits Awards was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Telus wins award for supporting employees’ holistic well-being 2. Survey finds nearly all young employees globally experiencing burnout 3. Half of employees say employer hasn’t communicated […]
Around half (54 per cent) of U.S. employees say they’ve stopped or reduced retirement savings due to inflation, according to a new survey by Allianz Life Insurance Co. of North America. It found two-fifths (43 per cent) of workers said they’ve dipped into their retirement savings because of rising inflation. Eight in 10 (80 per […]
Equitable Bank’s comprehensive financial literacy seminars led to a win in the Financial wellness category at Benefits Canada’s 2022 Workplace Benefits Awards on Oct. 18. During the coronavirus pandemic, the bank had to pivot quickly to continue providing quality financial wellness education to employees, says Jasmine Kong, the organization’s human resources generalist. Equitable Bank partnered with some of […]
While Canada’s pension system continues to rank well globally, the current economic environment poses particular risks for defined contribution pension plan sponsors and members, according to a new report by the CFA Institute and Mercer. “As DC pension plans continue to make up a greater part of Canadians’ retirement, turbulent markets, soaring inflation and a […]
An article on Ontario’s incoming electronic monitoring policy was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. Ontario’s electronic monitoring policy ensures employer transparency: lawyer 2. Expert panel: How employers, employees can mitigate workplace microaggressions 3. Majority of plan sponsors, plan members view their health benefits […]
Nearly three-quarters (71 per cent) of Canadians say saving for retirement is a challenge amid rising inflation, an increase of six percentage points over 2021, according to a new survey by BDO Canada. The survey, which polled more than 2,000 Canadian adults, found 43 per cent said they’ve also cut their savings for retirement. As a […]
Defined contribution pension plan members in the U.S. are committed to saving and investing, as only two per cent stopped contributing to their plan in the first half of 2022, according to a report by the Investment Company Institute. The report, based on record-keeper data covering more than 40 million DC plan members, noted one per cent […]
After a tough couple of years, Canadians continue to face several challenges against an increasingly turbulent economic landscape. While most coronavirus restrictions were lifted in late spring 2022, the seventh wave of the pandemic arrived in July alongside rising inflation, which is compounding prices from the gas pump to the grocery store. Though the 2022 […]