Quebec’s finance minister presented an economic update on Tuesday that offered modest savings to taxpayers, as he painted an optimistic picture of the province’s finances heading into an election year. Eric Girard’s update includes decreases to payroll deductions for the provincial pension plan and parental insurance. The reductions, along with adjustments to how personal income […]
An article on how employers can approach pay-for-performance amid economic volatility was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Expert panel: How employers can rethink pay-for-performance in a volatile economy 2. Survey finds many women aged 55+ […]
Wealthsimple Inc. is marking Financial Literacy Month with a two-part series of information sessions on how women can build financial confidence. The sessions cover estate planning, individual and joint money management, investing, wealth building and pre-retirement strategies, says Diana McLachlan, the organization’s chief people officer. She notes the company’s overall approach to financial literacy emphasizes […]
For a typical middle-income Canadian without a workplace pension, the Canada Pension Plan is projected to provide roughly 50 per cent to 70 per cent of their retirement income, according to a new study by the Canada Pension Plan Investment Board and the National Institute on Ageing. It reinforced that CPP benefits aren’t intended to […]
During Financial Literacy Month, Arc’teryx Equipment is hosting a series of information sessions on the company’s savings plans, geared toward the outerwear company’s diverse employee population. An in-person session will be held at the company’s Vancouver headquarters, while virtual and pre-recorded sessions will be available for employees based across Canada, covering the group registered retirement […]
While earlier generations of Canadian retirees fared well despite limited financial literacy thanks to simpler pension systems, today’s employees face a more complicated journey through a self-directed financial landscape, according to a new report by the C.D. Howe Institute. It found Canadian employees, especially those in the private sector, are partially left to their own […]
Many women approaching and entering retirement are seeking clearer financial guidance and more supportive environments for financial decision-making, according to a new survey by HomeEquity Bank. It found confidence in financial decision-making tends to increase with age, yet many women continue to encounter barriers rooted in literacy, confidence and cultural expectations. While 63 per cent […]
Improving participation and engagement in pension savings is a constant challenge for the retirement industry, but experts point to more insistent and consistent tactics around member behaviour. Derek Messacar, associate professor of applied economics, Memorial University Programs that offer tax deductions on savings in designated accounts have, for a long time now, been contested as […]
When CSA Group rolled out its global wellness incentive program in April, it was aiming to see whether cash rewards could kick start healthier habits and keep employees motivated. “We noticed a significant uptick in participation whenever we ran global step challenges with prizes,” says Aaron Snaith, director of total rewards at CSA Group. “That […]
In stock ownership, Scotiabank employees have the combined heft of a large institutional investor: more than 30,000 active members in the bank’s employee share ownership plan own 20 million shares between them — or about 1.5 per cent of the institution’s total outstanding shares. “It’s a flagship benefit we have here,” says Simon Cabral, the […]