While employers recognize employee benefits are an important part of attracting and retaining talent, seven in 10 (70 per cent) say it’s impossible to offer all of the benefits that employees are currently demanding, according to a new survey by the Harris Poll on behalf of Express Services Inc. The survey, which polled more than […]
Three-quarters (74 per cent) of Canadians aged 24 to 44 say the conventional approach to retirement — halting work at age 65 to enjoy a life of leisure — is an outdated concept, according to a new survey by Leger on behalf of Wealthsimple. The survey, which polled more than 1,500 Canadians, found roughly 60 […]
More than half (55 per cent) of Americans say they’re worried they won’t achieve financial security in retirement, according to a new survey by the National Institute on Retirement Security. The survey, which polled more than 1,200 individuals aged 25 and older in the U.S., found more than three-quarters (79 per cent) believed there’s a retirement […]
The University Pension Plan is launching a new web portal to prioritize plan member engagement throughout the year. “Transparency is an important value to our members,” says Joanna Lohrenz, the plan’s chief pension services officer, noting the website will provide members with account details and allow them to update their personal information, run a pension […]
The vast majority (89 per cent) of U.S. employees say they’d be more likely to continue working for an employer that offered a retirement plan, according to a new survey by Vestwell Holdings Inc. The survey, which polled more than 1,200 workers, found a similar percentage (89 per cent) expressed some level of interest in […]
The average rate of contribution by U.S. Black and Hispanic workers to employer-sponsored retirement plans is roughly 40 per cent lower than that of white workers, according to a new working paper by the Massachusetts Institute of Technology’s Sloan School of Management. The paper examined responses from more than 12 million respondents aged 24 to […]
While Canadians, on average, believe they need $1.7 million in retirement, this amount varies among different generations of employees, according to a new survey by the Bank of Montreal. The survey, which polled roughly 1,500 Canadians, found millennials believe they need the most money to retire ($2.1 million), followed by generation Z ($1.6 million), generation […]
For its second annual Pension Awareness Day on Feb. 15, the Financial Services Regulatory Authority of Ontario is holding information sessions for its employees to learn more about their pension plan. Even people who actually have an employer-sponsored pension plan aren’t aware of the value of those benefits, says Andrew Fung, executive vice-president of pensions […]
An article on the Ontario Court of Appeal’s affirmation of a $1.5 million punitive damages award was the most-read article on BenefitsCanada.com this week. Here are the top five human resources, benefits, pensions and investment articles of the past week: 1. Court of Appeal upholds $1.5 million punitive damages award in LTD claims case 2. N.B. transferring 5 public […]
The Quebec government’s removal of the maximum annual amount that can be paid to people aged 55 and older with a variable benefit account tied to a defined contribution pension plan or with a life income fund is part of a broader push to provide retirees with more flexibility to draw on their locked-in retirement savings […]