Three times a year, the roughly 600 employees of Friesens Corp. gather in front of the printing house to accept envelopes, each one holding a cheque for the workers’ share of company profits. They all get a cut because they’re all owners. The company, based in the small town of Altona, Man., is set up […]
Retirement plan members who engage with their plan digitally have an average retirement account balance 230 per cent higher than those who weren’t engaged ($123,800 versus $51,800), according to a new report by Sun Life Financial Inc. The report, which analyzed data from 1.45 million Sun Life group retirement plan members, found employees who were were digitally engaged are also more […]
Nearly half (49 per cent) of executive leaders say financial stress often or very often prevents their frontline workers from doing their best work, according to a new survey by Dayforce Inc. The survey, which polled more than 6,900 workers, managers and executives from companies with frontline workers across the globe, found 62 per cent of […]
Telus Communications Inc. is ensuring employees bring their best self to the job by supporting their well-being both in the workplace and at home, said Wade Domries, the company’s vice-president of global total rewards, during a session at Benefits Canada’s 2024 Vancouver Benefits Summit in May. The organization’s current approach to well-being started taking shape […]
The federal government recently announced plans to introduce legislation in the fall that will expand pension eligibility to frontline public safety and law enforcement workers in Canada. The legislation is welcomed by the Public Service Alliance of Canada and the Customs and Immigration Union after they’ve advocated for more than a decade for equitable retirement […]
A majority (83 per cent) of U.S. workers say they’re concerned the increasing cost of living will make it harder to save for retirement and more than three-quarters (78 per cent) are concerned inflation will stay high, according to a new survey by the Employee Benefit Research Institute and Greenwald Research. The survey, which polled […]
Six in 10 (59 per cent) Canadians with an employer-sponsored pension plan say they feel somewhat or very well prepared for retirement, compared to only 34 per cent of respondents without a workplace pension plan, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled 2,000 Canadian employees, found fewer than […]
When Phillip Kotanidis took over as chief human resources officer at Toronto’s Michael Garron Hospital in 2018, the financial well-being of staff wasn’t exactly high on his agenda. In such a fast-paced and potentially stressful workplace, money matters naturally took a backseat to the physical and mental health of the hospital’s staff, who are members […]
The Medicus Pension Plan, a defined benefit multi-employer pension plan designed exclusively for incorporated physicians in Canada, reported a funded status of 158 per cent on a going-concern basis and a 115 per cent funded status on a solvency basis as of Jan. 1, 2024. The plan, which launched in May 2023, is designed to […]
Dollar cap match formulas could distribute employer contributions to 401(k)s more equitably than other common match formulas, according to a new report by Vanguard Inc. The report analyzed more than 1,300 large employer-sponsored plans that are record-kept by Vanguard between 2013 and 2022. It found among two-thirds of plans, employer contributions exacerbate pay inequity and […]