More than 40 years after Ted Benna conceived of what’s now known as the modern defined contribution pension plan structure, the so-called ‘father of the 401(k)’ is still trying to create a retirement savings plan that’s accessible for employees at all income levels. While working at Johnson Cos. in September 1979, Benna found a way […]
Younger workers in the U.S. are feeling less confident about their financial security compared to those from older generations, according to a report by LIMRA. The report found more millennials (55 per cent) and generation Z (44 per cent) workers were concerned about having enough money saved for a comfortable retirement, compared to generation X […]
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) […]
An article on how employers are enhancing their benefits packages to boost talent attraction and retention was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. 70% of employers say it’s impossible to offer all benefits demanded by employees: survey […]
Only a third (31 per cent) of U.K. pension plan members say they have sufficient retirement savings, down slightly from 32 per cent in 2022, according to a survey by Trafalgar House. The survey, which polled 2,000 adults, found 48 per cent believe they’ve saved much less than they need, up from 45 per cent. […]
Three-quarters (74 per cent) of Canadians aged 24 to 44 say the conventional approach to retirement — halting work at age 65 to enjoy a life of leisure — is an outdated concept, according to a new survey by Leger on behalf of Wealthsimple. The survey, which polled more than 1,500 Canadians, found roughly 60 […]
Employer-sponsored retirement plans that offer matching contributions can help younger workers retire earlier and with more money, according to a new report by Mercer Canada. The report based its findings on a sample worker aged 30 earning $70,000 and with $30,000 of personal debt, using five per cent of their income to either pay down […]
Nearly half (47 per cent) of U.S. millennials are moderately confident in their ability to accumulate enough retirement savings, according to a new survey by software company Iralogix Inc. The survey, which polled more than 500 workers between the ages of 28 and 43, found 29 per cent said they have no confidence in their […]
Canadian employees who rent or who have mortgage payments are managing economic pressures — like high interest rates and the rising cost of living — by putting off saving for retirement, according to a new survey by Co‑operators Financial Services Ltd. The survey, which polled 1,500 Canadian employees, found 77 per cent of renters said they […]
More than half (55 per cent) of Americans say they’re worried they won’t achieve financial security in retirement, according to a new survey by the National Institute on Retirement Security. The survey, which polled more than 1,200 individuals aged 25 and older in the U.S., found more than three-quarters (79 per cent) believed there’s a retirement […]