Despite the financial challenges experienced by Canadians over the course of the coronavirus pandemic, 40 per cent said they’ve continued to save for retirement, according to a new survey by life insurance provider PolicyMe Corp. More than half (54 per cent) of survey respondents said they’re adding to their emergency funds, while 48 per cent […]
Canadian employees want more comprehensive coverage under their benefits plans, according to a survey by the Conference Board of Canada and Telus Health. The survey, which polled more than 1,500 Canadian workers, found a majority (82 per cent) of respondents want basic dental services (such as preventative and minor restorative) covered by their benefits plans, […]
Three-quarters (75 per cent) of Canadians nearing or in early retirement said the coronavirus pandemic has them more concerned about their family’s financial security and well-being, according to a survey by Ipsos for Ryerson University’s National Institute on Ageing and HomeEquity Bank. Among respondents aged 55 to 69, 77 per cent expressed worry about their […]
While renovation shows on television tend to take a sledgehammer to every surface in a house for dramatic effect, there’s another way. Defined contribution pension plans don’t need to be completely gutted to stay current. Something akin to painting an accent wall, like tweaking contribution rates, can be just as impactful and way more cost-effective. […]
Canadian insurers paid out more than $97 billion in benefits from life and health insurance products in 2020, according to the Canadian Life and Health Insurance Association’s annual fact book. The period, which included the first nine months of the coronavirus pandemic, included $420 million paid out for psychology-related claims to support mental health, up 24 […]
Uber Technologies Inc. is revealing more details of a labour model it’s pitching to Canadian provinces and territories, a model that’s drawn opposition from some worker groups. The Flexible Work+ model the San Francisco-based tech giant has pushed since March asks provinces and territories to force Uber and other app-based companies to create a self-directed […]
A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data. The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build […]
Indigenous and racialized seniors have less retirement security and higher poverty rates than white seniors in Canada, according to a new report by the Canadian Centre for Policy Alternatives. Based on data from the 2016 census, the report found Indigenous seniors have an average income of $32,200 and a poverty rate of 21.5 per cent, […]
The Canadian Life and Health Insurance Association is calling on the federal government to provide Canadians with access to more-secure retirement income. In its submission to the 2021 federal budget, the CLHIA recommended that Canadians in and approaching retirement have access to flexible annuity options within registered pensions, registered retirement savings plans, registered retirement income […]
While the rollout of vaccines has the world cautiously optimistic about an economic recovery, a Scotiabank survey shows the coronavirus pandemic has Canadians concerned about their retirement future. According to the survey, 72 per cent of Canadians said they’re worried they’re not saving enough for retirement, while one-third (32 per cent) said they won’t be able to […]