Fidelity Canada’s financial wellness program was recognized during Benefits Canada’s 2025 Workplace Benefits Awards for its ‘no strings attached’ approach to contributions in employees’ group registered retirement savings plans.
The financial services firm earned the recognition for easing employees’ retirement stresses by contributing to all eligible full- and part-time workers’ group RRSPs without requiring employees to contribute.
“I think our RRSP program is probably the best in the industry anywhere and it speaks a lot to how Fidelity would like to treat their employees and look after their employees today and in the future with their retirements,” said Van Lam (pictured left), the organization’s manager of payroll, after receiving the award.
Fidelity Canada’s contributions grow over time and tenure, starting at three per cent of an employee’s salary — including base pay and bonus — during the first six months and up to a year of employment. That rate then increases every year: to six per cent between year one and two; nine per cent between years two and three; 12 per cent between years three and four; and landing at 15 per cent after four years of service.
The firm also wants employees to share in the success of the business and has created financial structures that incentivize group performance, according to the awards entry. Annual bonuses, for example, are determined by individual performance and company performance, measured against pre-established bonus goals corporate scorecard measures established annually respectively.
Victor Hsu (pictured right), manager of compensation and benefits at Fidelity Canada, said this reward strategy helps to reduce stress for employees. “It creates stability and enhances mental wellness,” he added. “I think that’s very important for our employees.”
The organization also allows employees and their eligible family members to purchase investment vehicles that are managed in house by the firm. These products are offered with management fee discounts and no administration fees.
The offerings also extend to total wealth solutions designed to meet the needs of high-net-worth investors, according to the entry, which noted the exclusive program for employee includes: discretionary investment management; personalized financial planning; cash flow and retirement analysis; and estate and tax planning strategies.
Fidelity Canada also invests in the financial well-being of its employees by offering them the opportunity to purchase supplemental life insurance for themselves and their spouses at competitive rates, preferred group rates on home and auto insurance and preferred pricing for new vehicles with General Motors of Canada Ltd.
Indeed, partnerships with a variety of vendors are a key component of the organization’s financial wellness program, said Hsu. They also include information seminars on retirement and savings, as well as fairs showcasing all of the different savings opportunities available to employees.
Tune in to Benefits Canada to learn more about the 2025 Workplace Benefits Awards winners in the coming days.