More than two-fifths (44 per cent) of U.S. Black retirees said they left the workforce earlier than planned due to a health issue or disability, compared to 32 per cent of non-Black retirees, according to a new report from the Employee Benefit Research Institute. The survey — which polled more than 2,700 American workers and […]
Two-thirds (67 per cent) of Canadians say they’re very concerned about how Canada-U.S. relations, along with the cost of living (67 per cent) and general economic uncertainty (65 per cent), will impact their retirement savings, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled more than 2,000 Canadians, […]
Three-quarters (75 per cent) of Canadian employers and two-thirds (66 per cent) of U.S. employers say they plan to link compensation directly to performance outcomes, according to a new report by Hub International Ltd. The survey, which polled more than 900 business leaders across Canada and the U.S., found many employers are shifting total rewards […]
More than half (58 per cent) of Ontario employees say retirement planning should go beyond financial wellness and encompass physical and mental health and social connections, according to a new survey by the Ontario Municipal Employees Retirement System. The survey, which polled more than 750 workers and more than 750 retirees, found roughly eight in […]
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 […]
U.S. workers believe they’ll need an average of US$1.26 million in savings to retire comfortably, $200,000 less than the $1.46 million reported last year and nearly flat with 2022 and 2023 estimates, according to a new survey by Northwestern Mutual. The survey, which polled more than 4,600 workers, found among employees who have retirement savings, […]
Flexible retirement savings plans and employer matching can potentially provide lower-income workers with earlier retirement options despite the rising cost of living, according to a new report by Mercer. The report analyzed two scenarios for workers earning $50,000 with workplace retirement plans that include employer matching. Read: Employer matching key to supporting young workers’ retirement […]
More than half of U.S. pension plan sponsors say economic conditions like interest rate and market volatility (58 per cent) as well as demographic changes (57 per cent) are the market forces most likely to influence the evolution of employer-sponsored retirement plans, according to a new survey by MetLife Inc. The survey, which polled more […]
The use of automatic features in U.S. defined contribution pension plans is supporting employee financial well-being and retirement readiness, according to a new report by the Employee Benefit Research Institute. It found when a typical DC plan sponsor adopted auto-enrolment with a six per cent default contribution, the retirement savings shortfall among plan members decreased […]
Two-thirds (67 per cent) of U.S. retirement savers are concerned about their income lasting their lifetime, while 30 per cent are extremely or very concerned, according to a new survey by Global Financial Atlantic Group. The survey polled individual investors between the ages of 55 and 75 with US$250,000 and $2 million in investable assets […]