registered retirement savings plan – Benefits Canada.com

52% of U.S. private sector workers with employer-sponsored retirement plans say they contribute: survey

lbailey — Mon, 29 Apr 2024 19:00:05 +0000

While more than two-thirds (69 per cent) of private sector workers in the U.S. have access to an employer-sponsored retirement savings plan, just half (52 per cent) of these employees says they choose to participate, according to a new survey by GOBankingRates.com. The survey, which polled 1,000 workers, found more than a quarter (28 per cent) […]

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Half of Canadians planning to contribute to RRSPs despite cost-of-living challenges: survey

lbailey — Wed, 22 Feb 2023 14:00:16 +0000

Half (51 per cent) of Canadians are planning to contribute to their registered retirement savings plans this year — a substantial increase since last year (18 per cent), according to a new survey by Edward Jones Canada. The survey, which polled more than 1,600 adults, found half (51 per cent) said cost of living is […]

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Editorial: Employers embracing innovation, flexibility in DC plan design

lbailey — Fri, 12 Aug 2022 13:00:29 +0000

The uniting theme at the 2022 Defined Contribution Plan Summit was financial wellness, a chief concern for any employer that offers a pension plan to its workforce. In particular, with inflation reaching its highest level in four decades and people facing several competing financial priorities, including simple day-to-day expenses, plan sponsors are bringing flexibility to […]

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RRSP contributions up 13% between 2019 and 2020, finds Stats Can

Jennifer Paterson — Mon, 04 Apr 2022 13:00:32 +0000

In 2020, more than 6.2 million Canadians put aside a total of $50.1 billion for their retirement by making contributions to their registered retirement savings plan, according to new data from Statistics Canada. Compared with a year earlier, contributions increased 13 per cent in 2020, while the number of contributors increased 4.9 per cent. In current dollars, the median RRSP contribution […]

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How LifeLabs redesigned its RRSP-DPSP to maximize employee engagement

lbailey — Fri, 18 Mar 2022 12:58:53 +0000

In 2020, LifeLabs Inc. embarked on a year-long journey to redesign its group registered retirement savings plan and deferred profit-sharing plan to make them less cumbersome, easier to administer and to boost engagement among employees. Under the original plans, which were in place for more than 10 years and linked to employees’ years of service, […]

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36% of younger Canadians already saving for retirement: survey

lbailey — Fri, 04 Mar 2022 14:00:43 +0000

More than a third (36 per cent) of Canadians aged 18 to 25 have already begun planning and saving for retirement, according to a survey by online real estate investment marketplace Fundscraper Capital Inc. “It’s well documented that generation Z and younger millennials have had it much harder than previous generations when it comes to career […]

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39% of Canadians are confident in their retirement plan: survey

lbailey — Thu, 17 Feb 2022 14:00:05 +0000

Almost two in five (39 per cent) Canadians are confident in their retirement plan, according to a survey conducted by Pollara Strategic Insights for the Bank of Montreal Financial Group. The survey, which polled 1,500 adult Canadians, found while respondents said they need $1.6 million to retire securely, just under half (44 per cent) were […]

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C.F. Crozier supporting employee financial wellness amid uncertain times

lbailey — Tue, 25 Jan 2022 14:00:12 +0000

As Canadian employees face rising inflation and interest rates, C.F. Crozier & Associates Inc. is helping ease employees’ financial worries by offering benefits that appeal to staff at every stage of their lives. The time employees spend at work is just one stop along their personal and professional growth journey, says Nick Mocan, president of Crozier. […]

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Canadians still not knowledgeable about RRSPs, TFSAs: survey

Jennifer Paterson — Wed, 12 Jan 2022 20:00:32 +0000

While Canadians are prioritizing saving as they continue to navigate the challenges of the global coronavirus pandemic amid expectations of rising inflation in the coming year, just over two-thirds (64 per cent) know the difference between a registered retirement savings plan and a tax-free savings account, according to a new survey by the Bank of […]

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75% of older Canadians worrying about financial security: survey

lbailey — Fri, 05 Nov 2021 13:00:56 +0000

Three-quarters (75 per cent) of Canadians nearing or in early retirement said the coronavirus pandemic has them more concerned about their family’s financial security and well-being, according to a survey by Ipsos for Ryerson University’s National Institute on Ageing and HomeEquity Bank. Among respondents aged 55 to 69, 77 per cent expressed worry about their […]

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