Two-thirds (67 per cent) of Canadian employees say help with forecasting retirement income is the No. 1 way that employers can provide financial support to workers, according to a new survey by Manulife Financial Corp. The survey, which polled more than 1,600 employees, found more than half (57 per cent) of Canadian employees said their […]
While earlier generations of Canadian retirees fared well despite limited financial literacy thanks to simpler pension systems, today’s employees face a more complicated journey through a self-directed financial landscape, according to a new report by the C.D. Howe Institute. It found Canadian employees, especially those in the private sector, are partially left to their own […]
According to MFS Investment Management’s Sean Kenney, his three sisters would all fall within the same target-date age cohort, but their lifestyles and retirement goals are completely different. His oldest sister, married with three kids, makes a middle-class income, doesn’t have a lavish lifestyle and loves being at home. Kenney’s twin sister, single with no […]
Benefits Canada celebrated the Defined Contribution Plan Summit’s 25th anniversary by looking at how the world has changed over the last quarter century, the subsequent impact on the pension sector and what’s next for DC pensions. On Feb. 26-28 in Montreal, the 2025 DC Plan Summit highlighted the lessons of the last several decades, putting […]
Three-quarters (76 per cent) of U.K. employers offer alternative cash benefits to high earners in lieu of pension contributions, according to a new survey by WTW. From April 6, 2024, the U.K. government abolished the lifetime allowance from pension tax legislation, limiting the total amount of tax-free cash an individual can receive to a maximum […]
The Canadian Institute of Actuaries is supporting employers with a new resource that focuses on the importance of early and proactive retirement planning. The resource covers several topics, such as how to build emergency funds while balancing short-term obligations with long-term goals, as well as developing sustainable retirement income strategies using personal savings, employer-sponsored retirement […]
Amid the ongoing tariff dispute between Canada and the U.S., employers can support employee mental health by reminding them of available mental-health benefits and being transparent in their communication, says Kim Siddall, national vice-president of client strategy at People Corporation. She notes the impact of the trade war on employee mental health is two-fold, encompassing […]
Canadian defined contribution plan members’ knowledge of target-date funds is lacking and it may point to a larger issue: the stakes set for member investment knowledge may be too high, hindering engagement efforts, according to a survey by MFS Investment Management. The survey of around 1,000 Canadian DC plan members, including 700 active members and 300 […]
During Financial Literacy Month and throughout the entire year, Desjardins Group is promoting financial literacy by offering employees personalized financial advice, as well as hosting a program geared towards young workers. “Over the last few years, we’ve worked incredibly hard on several initiatives that support the financial empowerment of our [employees and customers],” says Isabelle […]