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 […]
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 […]
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 […]
When it comes to retirement benefits like the Canada Pension Plan and old-age security, the majority of Canadians don’t understand their options for deferral, according to a new survey by Employment and Social Development Canada. The survey, which polled 8,622 Canadians, found just 36 per cent are correctly aware of the deferral options for CPP […]
Even before the coronavirus pandemic, U.S. employers were beefing up their financial well-being offerings and starting to see positive results, according to a new survey by Buck. The survey, which polled more than 150 U.S. organizations, found employees’ financial stress is a top motivator for companies to invest in financial well-being programs. As well, 40 […]
Among Canadians with a retirement plan, 77 per cent said they’re confident they’ll have enough money to last the rest of their lives, compared to 52 per cent without one, according to a new survey by Franklin Templeton Canada. The survey, which was conducted in February, prior to the coronavirus pandemic, also found that among […]
A new paper is evaluating how global retirement systems are faring in the wake of the coronavirus pandemic and what reforms will be required to facilitate the retirements of future generations. The paper, ‘Building better retirement systems in the wake of the global pandemic,’ by Olivia Mitchell, a professor and executive director of the pension research council […]
With many Canadians dealing with financial stress, employers are uniquely positioned to help, but their financial wellness programs must go beyond just literacy. “[Everyone] has heard the term financial literacy, but as we know, it’s not enough,” said Saijal Patel, founder and chief executive officer of Saij Wealth Consulting Inc., during a Canadian Pension and Benefits Institute webinar earlier […]
As the world changes, so do the workforce and workplaces of today, demanding a new approach to how the industry is helping defined contribution plan members save for retirement. During a session at Benefits Canada‘s 2020 DC Plan Summit in Montreal in February, Maria-José Perea, vice-president, business solutions and marketing for group retirement savings at […]
With the federal government easing the withdrawal requirements for registered retirement income funds in a bid to alleviate the harm to retirees’ portfolios caused by the coronavirus-spurred market crash, the industry is suggesting similar measures for other retirement arrangements. “Canadians who are about to turn money into income will be faced with the decision of […]