Keyword: Financial education

108 results found
Canadians plan to work longer, fear finances won’t recover after pandemic, finds surveys

While working Canadians expect to retire, on average, at age 62, they’ll require $878,000 in retirement savings, more than twice the amount of current retirees, according to a new study by Mackenzie Investments. It found 45 per cent of respondents who are still working said they plan to continue doing so in some capacity, compared […]

  • By: Staff
  • October 29, 2020 January 19, 2021
  • 15:00
Canadians prioritizing financial wellness planning in pandemic economy: survey

After nine months of uncertainty in the financial markets and with no end in sight to the coronavirus pandemic, more and more Canadian workers are worrying about life after retirement, according to a new survey by Manulife Investment Management. It found financial woes are taking a toll on workers, with a 16 per cent rise […]

  • By: Staff
  • October 27, 2020 October 27, 2020
  • 15:15
Four trends in group retirement, investment programs

The coronavirus pandemic is highlighting many trends in group retirement and investment programs, pushing the industry to be flexible and quick with some of the newer offerings. As plan sponsors review their group retirement plans in the coming months, they may want to consider some, or all, of these four trends. 1. Financial wellness becoming a must. […]

  • September 22, 2020 November 26, 2020
  • 08:45
Tips for helping staff piece together their retirement income puzzle

Retirement income can be sliced into three broad categories: what an individual receives from their employer, what they receive from the government and everything else. While plan sponsors are naturally most concerned with what they provide for plan members, including all forms of income in the conversation is integral to properly planning for retirement, says […]

Retirement and savings programs should motivate plan members to think about how they want to spend their time in retirement as well as their money. “If we focus in just on the financial part of the equation and then [plan members] get to that point where [they’re] retiring, not only might they not have enough money to do the […]

Plan Sponsor Week: Rogers engages staff in retirement savings amid plan design changes, coronavirus

In considering changes to its retirement savings programs, Rogers Communications Inc. is generally focused on three main internal and external factors: regulatory changes, employee feedback and demographics. “As we see the millennial and gen Z workforce grow quite a bit, we’re really trying to understand what that’s going to do to our plans in terms […]

An employer’s matching contribution is the most influential factor motivating plan members to begin saving for retirement, according to a new report by Cerulli Associates. The report, which polled U.S. employees saving into a 401(k), found 46 per cent of respondents said they starting saving for retirement because their organization offered a matching contribution, while […]

  • By: Staff
  • September 3, 2020 November 30, 2020
  • 08:45
Canada Life introducing RESP to group benefits plans

Canada Life Assurance Co. is introducing a self-directed registered education savings plan to help employers support their employees’ varying financial priorities. Employers can add the RESP to their employee benefits plan at no addition cost, while plan members can choose either the family or individual plan, where they can contribute as much or as little […]

  • By: Staff
  • September 2, 2020 February 23, 2021
  • 08:30
Employees must accumulate 10.9 times final pay to maintain income in retirement: report

The average Canadian employee will have to accumulate 10.9 times their final pay to maintain the same spendable income once they retire, according to a new report by Aon. The report defines retirement income adequacy as having the same spendable income after retirement as before, taking into account changes in savings, taxes, medical expenses and […]

  • By: Staff
  • August 28, 2020 November 12, 2020
  • 08:42
Employees suffering from financial stress benefit from multi-channel education: report

With financial worries swirling through the minds of many employees as the economic impacts of the pandemic rage, some segments of employee populations may be feeling worse about their finances than others and it’s important for employers to be able to discern who’s struggling the most, according to a new report from U.S.-based think tank Financial […]

  • By: Staff
  • August 10, 2020 February 23, 2021
  • 09:00