A third (33 per cent) of Americans nearing retirement say they’re already drawing down their social security benefits, according to a survey by Allspring Global Investments. The survey, which polled more than 1,500 near-retirees and more than 1,200 retirees, found one in four retirees said they retired early due to job loss or a health […]
The third Monday in January, also known as ‘Blue Monday,’ is considered to be the saddest day of the year, as people contend with frigid weather and higher-than-normal credit cards bills from the holiday season. Employers can use this occasion to check in with employees and plan their mental-health strategies for the year, says Janet […]
Just 35 per cent of Canadians aged 50 and older report they’re in a position to financially afford to retire, while a slightly larger percentage (37 per cent) say they aren’t and 25 per cent say it’s unclear, according to a new survey by the National Institute on Ageing and the Environics Institute for Survey Research. […]
The autumn is typically a busy one for the industry, but this year was especially eventful over at Benefits Canada. After a brief hiatus, the long-standing Healthy Outcomes Conference returned in October. This year, it was an in-person event designed for employers to exchange ideas and best practices for achieving improved employee health outcomes. Nearly […]
As employers increasingly see four generations represented in their workforces and a diverse range of employee needs, customization and flexibility in benefits and wellness plans are becoming key to creating healthy outcomes for all employees. The result of these offerings was “peace of mind for employees and their families and a sense of belonging in […]
Financial education and well-being initiatives are in the spotlight as employees face the stress of multiple financial headwinds — from inflation reaching a 40-year high to the strong likelihood of an impending recession — and search for advice and clarity. “There’s a very strong correlation between financial wellness and mental wellness,” said Dr. Jim Chung […]
Capital accumulation plan sponsors need to focus on providing lifetime retirement income for plan members amid the growth of decumulation solutions such as advanced life deferred annuities and variable payment lifetime annuities, according to a new report by the C.D. Howe Institute. It noted DC plan members currently have three main options to draw down […]
As Canadians face continued economic uncertainty, a recent university graduate and a long-time teacher share their views on balancing different financial priorities. Sul Mahmood, age 24, a product specialist at OpenPhone Technologies Inc. Canadians should be saving for a combination of retirement and other financial priorities. If there’s anything I know (and from all the […]
Nearly three-quarters (71 per cent) of Canadians say saving for retirement is a challenge amid rising inflation, an increase of six percentage points over 2021, according to a new survey by BDO Canada. The survey, which polled more than 2,000 Canadian adults, found 43 per cent said they’ve also cut their savings for retirement. As a […]
Amid rising inflation, airport hospitality services provider OTG Management is supporting employees’ financial wellness through an earned-wage access card. Nearly a third (30 per cent) of the organization’s Canadian employees have accessed the benefit, which allows employees to access their pay and manage their finances whenever and however they prefer, says Alan House, OTG’s executive […]