Keyword: Millennials

59 results found
Engaging millennials in retirement requires different solutions

With different generations in the workplace requiring personalized approaches, the pension industry is reimagining traditional savings plans, said Brady Aarssen, assistant vice-president of business development strategy at Great-West Life Assurance Co., speaking at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. Millennials, for instance, are the largest segment of the workforce, they’re […]

RRSP holdings on the rise, driven by millennial savers: study

Despite market turmoil, Canadians are saving more in their registered retirement savings plans, led by strong growth among millennials, according to the Bank of Montreal’s annual RRSP study. Nationally, the average amount held in RRSPs is $101,155 — a 21 per cent increase from $83,635 in 2016. Millennials account for the greatest increase in amounts held, at 87 per cent […]

Shifting demographics key catalyst to changing pension plan design

Shifting demographics have always driven Canadian pension plan design, and the growth of the millennial generation as the largest portion of the workplace is no exception, according to Morneau Shepell Ltd.’s Joseph De Dominicis. “To me, shifting demographics are the key catalyst driving large global trends that in turn influence how we design pension programs, benefits […]

Generation gap exists in optimism about retirement: study

While Canadians aged 18 to 34 are the most likely age group to believe their standard of living will increase in retirement, they’re also the least likely to have started saving for it, according to a study by the Ontario Securities Commission. The study, which polled 2,259 Canadians aged 18 and older, found 39 per cent of all […]

  • By: Staff
  • November 29, 2018 September 13, 2019
  • 09:00
Editorial: Looking back — and ahead — in an unprecedented year

In my formative school years, it was mandatory for all students to learn cooking, carpentry and typing, among other non-academic pursuits. While I’m certainly grateful to have those life skills, as I get older I wonder why we weren’t taught to invest in the stock market, save for retirement or do our taxes. Generationally, I […]

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In helping employees save for their future, the Royal Bank of Canada recognizes the importance of meeting its staff where they are on their financial journeys. Over the past few years, the bank noticed employees weren’t saving enough into its pension plans. In particular, new hires and younger workers who were invited to join the […]

Millennial employees more likely to be involved in mentoring: survey

Nearly half (46 per cent) of millennial workers have a mentor, compared with just 27 per cent of employees over age 35, according to a survey by American Express and Catalyst Canada. The survey, which polled 1,440 Canadians over the age of 22 working in a corporate environment, also found 34 per cent of all female […]

  • By: Staff
  • November 5, 2018 September 13, 2019
  • 08:45
Is ghosting the new quitting?

All seemed to be going well with Randolph Rice’s new receptionist. She asked for more responsibilities and got them and said she was happy. Then, two months into the job at Rice’s law office, she didn’t show up for work or call in sick. Rice tried to reach her, but got no response. He’d been […]

Total rewards evolving to suit workforce of the future: Mercer

While total rewards were once based on pay and benefits in an attempt to cultivate long-term employee loyalty, the concept has evolved, according to Mercer Canada’s Gordon Frost. “We are focusing more on, in addition to pay and benefits, things like achievement, camaraderie, do we have equity in our pay?” said Frost, partner and career business leader, during a Mercer event […]

  • By: Ryan Murphy
  • September 6, 2018 September 13, 2019
  • 09:00
Majority of Canadians would take advantage of virtual doctor visits: survey

More than two-thirds (69 per cent) of Canadians would use virtual visits for at least a few of their appointments with physicians, according to a new survey by the Canadian Medical Association. The survey, which queried more than 2,000 people, shed some light on technology and health care, as well as the generation gap between older […]

  • By: Staff
  • August 14, 2018 September 13, 2019
  • 15:30