The combination of several innovations in defined contribution pension plan design can dramatically improve retirement readiness across income levels, according to a new report by Mercer. Its annual retirement readiness barometer analyzed the impact of two key innovations — variable payment life annuities and exposure to alternative investments like private markets — alongside plan flexibility […]
In times of increased economic uncertainty, the number of tough financial choices facing the average person seems to rise exponentially. Clashing priorities battle it out: Will the latest paycheque be swallowed by the mortgage, car payments and bills? Can $100 or more be spared each month for an emergency fund? Or to tuck away in […]
One employee touts the benefits of an ESOP, while an academic notes it depends on individual financial circumstances and plan design. Morgan Zirul, store manager, Starbucks Corp. When I joined Starbucks in 2017, I was 18 and not really thinking about retirement or long-term financial planning. During onboarding, I learned about the company’s benefits, including […]
While more than half (52 per cent) of workplace savings plan members count on the plan as their main source of retirement income, both men (16 per cent) and women (12 per cent) overstated their account balances, according to Sun Life’s latest survey of 1,900 plan members. Sharing the survey results at Benefits Canada’s 2026 […]
While the percentage of plan members who describe their personal financial situation as significantly or somewhat better than last year decreased from 42 per cent in 2025 to 34 per cent, the percentage that describe it as significantly worse or somewhat worse has also dropped, from 26 per cent last year to 22 per cent, […]
On average, women retire with 27 per cent less savings than men, according to a new report from Sun Life Financial Inc. The report, based on two surveys of members in workplace retirement savings plans administered by Sun Life, found women are consistently underutilizing these plans, despite living longer and spending more years in poorer […]
Employers can reinforce the value of their workplace retirement plans by communicating to plan members about the importance of having money later versus money now, according to a new report by the National Institute on Ageing at Toronto Metropolitan University’s Pension Centre of Excellence. The report analyzed responses from an NIA survey of 6,000 Canadians […]
Confident and knowledgeable group retirement savings plan members are saving 86 per cent more than those with low confidence and literacy, according to a new survey by Sun Life Financial Inc. The survey, which polled more than 1,900 plan members, found nearly a third (30 per cent) believe they have both confidence and strong financial […]
During Financial Literacy Month, Arc’teryx Equipment is hosting a series of information sessions on the company’s savings plans, geared toward the outerwear company’s diverse employee population. An in-person session will be held at the company’s Vancouver headquarters, while virtual and pre-recorded sessions will be available for employees based across Canada, covering the group registered retirement […]
In its pre-budget submission to the federal government, the Canadian Life and Health Insurance Association highlighted variable payment life annuities, automatic features in pension plans, pharmacare and virtual health care as areas that require attention. While the CLHIA said it supports the concept of VPLAs as a decumulation solution for defined contribution plan members, it […]