Canpotex Ltd. is supporting employee financial wellness with its new first home savings account. The FHSA, introduced in the federal government’s 2023 budget, allows Canadians to accumulate tax-free savings, within certain limits, towards the purchase of a first property. The Saskatchewan-based potash exporter recently added the savings option for its 157 Canadian employees following discussions […]
For employers that are designing a financial wellness program, it’s important to provide a user-friendly, educational, and flexible offering that reflects the diversity of employees’ life stages, says Diana McLachlan, chief people officer at Wealthsimple. “Financial security is at the core of people’s lives, and when companies recognize that and invest in it meaningfully, it […]
CAA Club Group’s win in Benefits Canada’s 2024 Workplace Benefits Awards is reinforcing the company’s efforts to provide a comprehensive wellness program to its employees, says Joanna Marra, the organization’s director of wellness. “It’s fantastic for us to get the recognition in the space because we know the work we’re doing is being recognized outside […]
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 […]
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 […]
Two-thirds (65 per cent) of Canadian employees say they’re stressed about their finances and a quarter (27 per cent) say this stress impacts their productivity at work, according to a new survey by Wealthsimple for Business. The survey, which polled more than 500 respondents who identified as full-time employees, found nine in 10 (91 per […]
With the start of a new year, there are several developments and trends that will likely impact Canadian pension plan sponsors in 2025. Implementation of regulatory guidelines In September 2024, the Canadian Association of Pension Supervisory Authorities published a new guideline for risk management for plan administrators and an update to their guideline for capital […]
UAP Inc. is supporting employees’ financial wellness and retirement readiness with a new retirement toolkit. The toolkit, which launched this week, explains the company’s retirement savings plans and additional post-employment income sources such as Canada and Quebec Pension Plan benefits, as well as information on adjusting to life in retirement. It also includes resources for […]
One expert suggests employers bridge their knowledge gap by finding ways to turn education into action, while another says companies’ commitments to ongoing financial literacy is helping to do just that. Roland Chiwetelu (pictured right), associate director of financial wellness, Eckler Ltd. One expert suggests employers bridge their knowledge gap by finding ways to turn […]
The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]