Roughly eight in 10 (78 per cent) employees who can personalize their benefits package to meet their needs say their employer cares about their health and well-being, compared to just 29 per cent of employees who can’t personalize their benefits, according to a new survey by Mercer. The survey, which polled more than 18,000 global […]
While pay transparency requirements differ across Canada, there are several best practices for employers to ensure equity in the workplace, says Caitlin Hurren, legal counsel at ADP Canada. Provincial pay transparency legislation is gradually being enacted across the country. On Jan. 1, 2026, Ontario-based employers will be required to include total compensation — including base […]
More than half (58 per cent) of Ontario employees say retirement planning should go beyond financial wellness and encompass physical and mental health and social connections, according to a new survey by the Ontario Municipal Employees Retirement System. The survey, which polled more than 750 workers and more than 750 retirees, found roughly eight in […]
For most of the decade since I joined Benefits Canada, it feels like the pension industry has been moving at a snail’s pace. Don’t get me wrong — I have witnessed many substantial (dare I say, exciting) developments in the industry, each one touted as a potential solution to Canadians’ retirement readiness concerns and increasingly […]
Michael Montgomery used to check the balance on his retirement account once a week and smile. But lately, not wanting to get upset and question if he could retire in a few years, there was only one solution. “I’m not looking,” says the 66-year-old professor from Huntington Woods, Mich. As the White House simultaneously injects […]
A global shutdown caused by the coronavirus pandemic gave Canadians an increase of unanticipated savings that led to a short period of stronger retirement savings contributions, says Amin Mawani, director of the Master of Health Industry Administration and professor of taxation at the Schulich School of Business at York University. It has been five years […]
The majority (91 per cent) of Canadian employers are planning to benchmark their benefits plan against market practices to remain competitive, with half (49 per cent) prioritizing this for next year and 42 per cent for the next three years, according to a new survey by MercerMarsh Benefits. The survey, which polled nearly 350 employers […]
The use of automatic features in U.S. defined contribution pension plans is supporting employee financial well-being and retirement readiness, according to a new report by the Employee Benefit Research Institute. It found when a typical DC plan sponsor adopted auto-enrolment with a six per cent default contribution, the retirement savings shortfall among plan members decreased […]
Over the past 25 years, the pension industry has seen many significant shifts, from defined benefit to defined contribution, from accumulation to decumulation and from education and guidance to financial planning, said Chris Walker, regional vice-president of business development and investment strategy at Desjardins Insurance, during a session at Benefits Canada’s 2025 DC Plan Summit. […]
In the early days of Bell Canada’s defined contribution plan, there was a lot of emphasis on information and big campaigns, but at that time, employers were reluctant to get too involved, according to Robert Marchessault, the telecommunications company’s director of pension and benefits, noting it was soon clear its members needed more guidance. Speaking […]