tax-free savings account – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Fri, 22 Nov 2024 22:16:07 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 How PepsiCo Canada’s savings program is helping employees achieve financial security at any stage in life https://www.benefitscanada.com/archives_/benefits-canada-archive/how-pepsico-canadas-savings-program-is-helping-employees-achieve-financial-security-at-any-stage-in-life/ Fri, 10 May 2024 12:58:17 +0000 https://www.benefitscanada.com/?p=155285 PepsiCo Canada is baking flexibility into its retirement savings benefits to support employees’ financial security amid the rising cost of living. To help employees reach their retirement savings goal, the food and beverage company is matching employees’ bonuses up to 3.5 per cent, with the employer contribution automatically directed into their defined contribution pension plan. […]

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]]> Q&A with PepsiCo Canada’s Jaye Calder https://www.benefitscanada.com/archives_/benefits-canada-archive/qa-with-pepsico-canadas-jaye-calder/ Fri, 13 Oct 2023 12:53:01 +0000 https://www.benefitscanada.com/?p=145012 The food and beverage company’s manager of pension, benefits and wellness discusses fostering an inclusive and supportive work environment, the importance of flexible benefits and the soothing silence of swimming. Q: What top challenges do you face in your role?  A: In the realm of total rewards, simplification versus personalization is the challenge I experience […]

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]]> DC pension plan providers, advisors agree employers should offer, support in-plan decumulation options: survey https://www.benefitscanada.com/pensions/cap/dc-pension-plan-providers-advisors-agree-employers-should-offer-support-in-plan-decumulation-options-survey/ Mon, 06 Mar 2023 14:00:26 +0000 https://www.benefitscanada.com/?p=134656 Defined contribution pension plan providers and advisors say plan sponsors should offer and support in-plan decumulation options, according to a new survey by PIMCO Canada Corp. The survey, which polled 12 DC plan providers and advisors, found more than half (53 per cent) of respondents said their plan sponsor clients haven’t considered implementing in-plan decumulation options, […]

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]]> Half of Canadians planning to contribute to RRSPs despite cost-of-living challenges: survey https://www.benefitscanada.com/pensions/retirement/half-of-canadians-planning-to-contribute-to-rrsps-despite-cost-of-living-challenges-survey/ Wed, 22 Feb 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=134221 Half (51 per cent) of Canadians are planning to contribute to their registered retirement savings plans this year — a substantial increase since last year (18 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,600 adults, found half (51 per cent) said cost of living is […]

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]]> Employers can leverage choice, education to help close pension gap among BIPOC workers https://www.benefitscanada.com/pensions/retirement/employers-can-leverage-choice-education-to-help-close-pension-gap-among-bipoc-workers/ Tue, 14 Feb 2023 14:00:47 +0000 https://www.benefitscanada.com/?p=133796 Employers can leverage choice and financial education to help close the retirement gap among the Black, Indigenous and people of colour community, says Janice Holman, a principal at Eckler Ltd. A 2021 study by the Canadian Centre for Policy Alternatives, which analyzed data from the 2016 census, found racialized seniors were most reliant on public […]

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]]> 36% of younger Canadians already saving for retirement: survey https://www.benefitscanada.com/pensions/retirement/36-of-younger-canadians-already-saving-for-retirement-survey/ Fri, 04 Mar 2022 14:00:43 +0000 https://www.benefitscanada.com/?p=117659 More than a third (36 per cent) of Canadians aged 18 to 25 have already begun planning and saving for retirement, according to a survey by online real estate investment marketplace Fundscraper Capital Inc. “It’s well documented that generation Z and younger millennials have had it much harder than previous generations when it comes to career […]

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]]> Survey finds pandemic is impacting Canadians’ ability to save for retirement https://www.benefitscanada.com/pensions/retirement/survey-finds-pandemic-is-impacting-canadians-ability-to-save-for-retirement/ Fri, 04 Feb 2022 14:00:42 +0000 https://www.benefitscanada.com/?p=115937 Almost half (44 per cent) of Canadians agreed the coronavirus pandemic has negatively impacted their ability to save for retirement and, as a result, 31 per cent have changed their financial priorities, according to a new survey by Edward D. Jones & Co. The survey, which polled more than 1,500 adult Canadians, also found 33 […]

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]]> Expert panel: Why employers should offer group TFSAs in 2022 https://www.benefitscanada.com/pensions/cap/expert-panel-employers-should-resolve-to-offer-tfsas-to-employees-in-2022/ Tue, 18 Jan 2022 14:00:59 +0000 https://www.benefitscanada.com/?p=114900 At the start of every new year, many employees resolve to improve their fitness — emotionally, financially and/or physically. One pretty easy way that employers can help workers shape up (financially) this year is by offering a workplace tax-free savings account. A knowledge gap still needs to be filled when it comes to TFSAs — […]

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]]> Canadians still not knowledgeable about RRSPs, TFSAs: survey https://www.benefitscanada.com/pensions/retirement/canadians-still-not-knowledgeable-about-rrsps-tfsas-survey/ Wed, 12 Jan 2022 20:00:32 +0000 https://www.benefitscanada.com/?p=114658 While Canadians are prioritizing saving as they continue to navigate the challenges of the global coronavirus pandemic amid expectations of rising inflation in the coming year, just over two-thirds (64 per cent) know the difference between a registered retirement savings plan and a tax-free savings account, according to a new survey by the Bank of […]

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]]> Six employees discuss their personal roads to retirement https://www.benefitscanada.com/news/bencan/six-employees-talk-about-their-personal-roads-to-retirement/ Fri, 19 Mar 2021 04:57:15 +0000 https://www.benefitscanada.com/?p=96496 While 65 has long been considered the traditional retirement age, younger employees face the possibility of working longer. Plan sponsors can learn much from the unique financial journeys taken by different generations toward their eventual golden years. A 2019 Scotiabank investment poll revealed that 68 per cent of Canadians are currently saving for retirement, but […]

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