The coronavirus pandemic is changing what perks millennial managers consider “must haves,” according to a new survey by MetLife Inc. It found millennial managers (ages 26 to 40) are significantly more likely to describe pet insurance (up 58 per cent), legal services (up 50 per cent) and financial planning tools (up 40 per cent) as “must […]
Preparing financially for retirement is a marathon filled with many obstacles along the way to a constantly shifting finish line. Even in 2021, female employees tend to have more obstacles and subsequently lag well behind their male counterparts when it comes to retirement savings. Women retire 30 per cent less wealthy than men, according to […]
With many women at risk of outliving their retirement savings, employers can help by educating female employees about their investment options, says Michelle Connell, a chartered financial analyst and owner of Portia Capital Management. Since women are often the primary caregivers, she says they tend to put less money into their retirement accounts than men […]
For the past 15 years, Benefits Canada’s CAP Member Survey has taken the pulse of capital accumulation plan members’ retirement readiness, their knowledge, confidence and satisfaction in their employer-provided CAPs and how their financial wellness is affecting their physical and mental health. Tracking sentiments through the 2008/09 financial crisis, its subsequent recession and recovery and […]
Market expansion in 2021 is a priority among Canada’s defined contribution pension consultants, according to a new survey by PIMCO Canada. The inaugural survey, conducted across 12 major DC consulting and advisory firms that serve roughly 2,500 Canadian plan sponsor clients, found up-market expansion and down-market expansion in 2021 were the top strategic priorities among […]
A majority (63 per cent) of U.S. employees said their employer doesn’t offer a financial wellness program, according to a new survey by the Defined Contribution Institutional Investment Association. It found only 18 per cent of respondents have access to financial wellness resources through their employer and, of these respondents, just eight per cent have […]
The financial well-being of Canadians has declined over the last year, according to a new survey by Morneau Shepell Ltd. It rated Canadians’ overall financial health as of January 2021 at -2.8, indicating a decline from the previous year. Women reported a lower score (-5.1) than men (-0.6), with male respondents reporting improvement in some […]
In the old days, employers would often gather employees in a dusty conference room and pass around a box of Timbits while talking at a sea of bored and confused faces about the importance of retirement savings. Not anymore. These days, many capital accumulation plan sponsors and insurers are pivoting away from dull information sessions […]
With the ongoing coronavirus pandemic raising economic concerns, the Arthritis Society is taking a responsive approach with its Financial Literacy Month initiatives during the month of November. “We’re reading the pulse,” says Cheryl McClellan, the organization’s chief operating officer. “We haven’t seen a lot of people stressed directly in our organization, but generally, we understand […]
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 […]