After five years of working long nights as a truck driver, Julius Mosley wanted a change. He found driving unfulfilling, and his teenage son needed him to spend more time at home. He took a job as a customer service representative at a telecommunications company near his home. The employee benefits included being able to […]
Just 65 per cent of U.S. employees believe they’re on track to retire at their desired age, according to a new survey by Voya Financial Inc. The survey, which polled more than 1,000 workers, found three-quarters (75 per cent) of generation Z and two-thirds (66 per cent) of millennials said they need help understanding how […]
Alberta’s Local Authorities Pension Plan is now allowing defined benefit pension plan sponsors to join by transferring their existing assets and liabilities into the LAPP. The Alberta Teachers’ Association is the first plan sponsor to join the LAPP in this way, by transferring its plan for office staff. These members will now have access to […]
Roughly three-quarters (73 per cent) of Canadian employers say the rising cost of benefits is the No. 1 issue influencing their benefits strategy this year, up significantly from 40 per cent in 2023, according to a new survey by WTW. The survey, which polled more than 145 employers across the public and private sectors, found […]
The implementation of variable payment life annuities in Quebec will support employee financial well-being and retirement readiness, while providing a model for other Canadian jurisdictions, says Louis-Bernard Désilets, an associate at Normandin Beaudry. “Currently, there’s approximately $1.5 trillion in retirement savings accumulated in [registered retirement savings plans] and [defined contribution] plans in Canada, with likely […]
In the next three years, more than half (57 per cent) of global employers plan to reallocate or rebalance their benefits spend, adding or enhancing some benefits (23 per cent) while reducing or removing others (two per cent), according to a new survey by WTW. The survey, which polled more than 5,500 global employers, found […]
Nine in 10 (93 per cent) of global employers say they’ll maintain or expand their well-being offerings in 2025, according to a new survey by Business Group on Health. The survey, which polled 131 employers representing 11.2 million global workers, found 94 per cent said they plan to raise expectations for well-being vendors to deliver […]
Two-fifths (40 per cent) of generation Z employees say they feel depressed or anxious at least a few times per week, down from 45 per cent last year, according to a new survey by the Hartford Financial Services Group Inc. The survey, which polled nearly U.S. 700 employers and 1,000 employees, found despite reports of […]
After reaching new highs at the end of 2024, capital accumulation plan member outcomes have seen significant impacts following the inauguration of U.S. President Donald Trump and subsequent tariffs on Canadian imports, according to a new report by Eckler Ltd. The consultancy’s latest CAP income tracker found a typical male member retiring at the end of […]
Flexible retirement savings plans and employer matching can potentially provide lower-income workers with earlier retirement options despite the rising cost of living, according to a new report by Mercer. The report analyzed two scenarios for workers earning $50,000 with workplace retirement plans that include employer matching. Read: Employer matching key to supporting young workers’ retirement […]