Nearly one in four divorced, separated or widowed U.S. women have less than one month’s worth of retirement savings, compared to fewer than one in 10 men, according to a new survey by PensionBee. The survey, which polled more than 1,000 employees, found following a marital transition, women (43 per cent) are twice as likely […]
Canadian capital accumulation plan members are increasingly allocating their investments to target-date funds, according to a new report by Sun Life Financial Inc. The report analyzed 8,600 employer-sponsored CAPs in Sun Life’s database, representing 7,500 plan sponsors and 1.5 million plan members. It found two-fifths (42 per cent) of CAP members opted for TDFs, representing […]
The union representing 2,100 workers at DHL Express Canada sites across the country has ratified a new four-year agreement that includes pension and benefits gains. The agreement, which officially ends a nearly three-week lockout and strike by employees, includes an increased employer match in the defined contribution pension plan (from four per cent to 4.5 […]
A global shutdown caused by the coronavirus pandemic gave Canadians an increase of unanticipated savings that led to a short period of stronger retirement savings contributions, says Amin Mawani, director of the Master of Health Industry Administration and professor of taxation at the Schulich School of Business at York University. It has been five years […]
An article on how flexible retirement savings plans can help employees retire early was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Flexible savings plans, employer matching allowing employees to retire earlier than planned: survey 2. Are Canadian […]
Flexible retirement savings plans and employer matching can potentially provide lower-income workers with earlier retirement options despite the rising cost of living, according to a new report by Mercer. The report analyzed two scenarios for workers earning $50,000 with workplace retirement plans that include employer matching. Read: Employer matching key to supporting young workers’ retirement […]
Two-thirds (65 per cent) of Canadian employees say they’re stressed about their finances and a quarter (27 per cent) say this stress impacts their productivity at work, according to a new survey by Wealthsimple for Business. The survey, which polled more than 500 respondents who identified as full-time employees, found nine in 10 (91 per […]
The union representing roughly 435 employees at Ivaco Rolling Mills in eastern Ontario has ratified two five-year collective agreements that include pension and benefits gains. The agreements include pension improvements to the defined contribution pension plan, with pension contributions beginning earlier upon completion of probation and employer matches of up to four per cent for […]
Amazon.com is facing a lawsuit that claims the company violated U.S. federal law by using nearly US$350 million in forfeited 401(k) funds to offset the company’s own contributions rather than to reduce administrative fees for plan participants, according to a report by Reuters. In December, Cory Curtis, an employee of the online retail company, filed a […]
The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]