Two-thirds (67 per cent) of U.S. retirement savers are concerned about their income lasting their lifetime, while 30 per cent are extremely or very concerned, according to a new survey by Global Financial Atlantic Group. The survey polled individual investors between the ages of 55 and 75 with US$250,000 and $2 million in investable assets […]
Employers can help employees maintain harmony in their relationship on Valentine’s Day and beyond through financial wellness programs, says Connie Cooper, associate vice-president of executive financial counselling and education services at CWB Wealth. According to a recent survey by the Royal Bank of Canada, more than three-quarters (77 per cent) of Canadians said money is a […]
With all the focus on women’s health in the workplace in the past year, employers should be providing more support for pregnant employees by improving their financial security, having open discussions around symptoms and offering more flexibility. As a soon-to-be first-time mom — who was unsure how she felt about becoming pregnant at first — my […]
The keynote session at Benefits Canada’s 2024 Defined Contribution Investment Forum warned that the failure to plan for the ‘boomer bulge’ is affecting private and public pension policy. The presentation from Paul Kershaw, a policy professor at the University of British Columbia and founder of not-for-profit organization Generation Squeeze, got me thinking: if the influx […]
The median projected solvency ratio for Ontario defined benefit pension plans was 123 per cent as at June 30, 2024, up slightly from 122 per cent as at March 31, according to a new report by the Financial Services Regulatory Authority of Ontario. It found this increase was attributable to a rise in solvency discount […]
A third (34 per cent) of U.S. employees aged 50 and older are phasing into retirement, according to a new survey by WTW. The survey, which polled 10,000 U.S. employees working at medium- and large-sized private sector companies, found among workers who are currently phasing into retirement, six in 10 (61 per cent) have reduced […]
Meridian Credit Union is focusing on flexibility and mentorship to promote gender equity and female leadership in the historically male-dominated financial industry. According to the Canadian Credit Union Association, in 2023, only eight per cent of Fortune 500 chief executive officers were women. However, at Canada’s credit unions, 30 per cent of CEOs/general managers were […]
Canadian employees who rent or who have mortgage payments are managing economic pressures — like high interest rates and the rising cost of living — by putting off saving for retirement, according to a new survey by Co‑operators Financial Services Ltd. The survey, which polled 1,500 Canadian employees, found 77 per cent of renters said they […]
Meridian Credit Union Ltd. is continuing to support employee financial wellness by raising its guaranteed hourly wage to $23.74. In 2022, the financial company became the largest employer to be certified by the Ontario Living Wage Network and is adjusting its compensation to reflect new guidelines that were updated last month. Current economic conditions and […]
While one expert says replacement rates vary with income and age, another argues the longstanding 70 per cent benchmark doesn’t actually work. Bonnie-Jeanne MacDonald, director of financial security research for the National Institute on Ageing at Toronto Metropolitan University Retirement financial security has become critically important with population ageing — now, more than ever, is […]