Globally, the majority (85 per cent) of employees want help with their pension and retirement planning, according to a new survey by Accenture. The report, which surveyed workers in 10 countries in Asia-Pacific, Europe and South America, also found 82 per cent of respondents said they’d like retirement coaching. Millennial workers expressed the most interest […]
A disconnect exists between defined contribution plan sponsors’ intentions and actions when it comes to helping employees with financial wellness, according to a new survey by J.P. Morgan Asset Management. Among more than 800 U.S. DC plan sponsors, 74 per cent said they have a very or somewhat high commitment to employees’ fiscal health, although […]
In preparing for retirement, women have to contend with the salary gap, barriers to career continuity and more limited access to employer-sponsored pension plans, making them more stressed about their financial futures than men, according to a recent report by Invesco Canada Ltd. The report set out three key ways employers can engage on this issue. […]
Benefits Canada is extending the deadline for entering the 2019 Workplace Benefits Awards to Monday, July 15. The annual awards, which will be held in Toronto on Oct. 17, recognize employers and plan sponsors that are leading the industry in their approaches to supporting the mental, physical and financial well-being of their employees. Enter the 2019 Workplace […]
The pension industry has mixed feelings about the language used around retirement and whether it still reflects the needs of today’s workforce. “It’s always been retirement and always will be what we call it,” says Lois Brzak, payroll supervisor for the Agriculture Financial Services Corp. But a conversation is beginning to permeate the industry, with […]
Whether operating in Canada or the United States, defined contribution plan sponsors are facing the same challenges around demographics, plan design and their employees’ retirement readiness. On the demographics front, more baby boomers are retiring and taking their pension balances with them. As DC plans lose members, plan sponsors may see a rise in costs […]
In May 2018, more than 76,500 Ontario public service employees received emails from their employer encouraging them to use the federal government’s retirement income calculator. The emails were the same, but the subject lines were different. Each one targeted a different way of thinking: emphasizing the simplicity of retirement planning, playing up its immediate benefits […]
Shaw Communications Inc.’s Kristina Humphreys talks financial well-being, plan flexibility and league hockey. Q. What top challenges do you face in your role? A. A big challenge is finding effective ways to communicate with our employees because it’s across many locations, demographics, different career points, etc. Also, retirement may feel very far away for a […]
While there isn’t reliable data on just how many people are disconnected from their old pension plans, the federal government says the number could be rising with people switching jobs more often, qualifying for plans faster, retiring abroad more often and not updating their mailing address because of increased reliance on online accounts. Administrators not […]
While the Pension Investment Association of Canada is praising Ontario’s 2019 budget proposals, it’s also questioning how the provincial government is planning to implement them. In a letter to provincial Finance Minister Vic Fedeli, the association noted further clarification is needed around the introduction of variable benefits. “While we are pleased that 50 per cent unlocking will be available […]