With a record number of Canadians nearing retirement, employers can support workers through retirement planning initiatives and education, says one expert. According to a report released last week by Statistics Canada, more than a fifth (22 per cent) of Canadian employees are aged 55 to 64. It also found more Canadians are aged 55 to 64 than young adults […]
Almost a third (29 per cent) of Canadians believe their employer-sponsored pension plan will be their primary source of retirement income, while 15 per cent said they’re relying on government pension plans, according to LifeWorks Inc.’s latest financial well-being index. The survey, which polled 3,000 Canadian employees, found the overall financial well-being score decreased slightly […]
Almost half (44 per cent) of Canadians agreed the coronavirus pandemic has negatively impacted their ability to save for retirement and, as a result, 31 per cent have changed their financial priorities, according to a new survey by Edward D. Jones & Co. The survey, which polled more than 1,500 adult Canadians, also found 33 […]
It’s no secret there’s a looming retirement savings gap among Indigenous and racialized Canadian seniors and their white counterparts. Indeed, a June 2021 study by the Canadian Centre for Policy Alternatives found data from the 2016 census showed white seniors’ income from private pension sources — such as registered pension plans and registered retirement savings […]
Both employees and human resources executives are seeing the impact of personal financial stress on work productivity and performance during the coronavirus pandemic, according to a new survey by Morgan Stanley at Work. While 82 per cent of employer respondents said they’re worried that personal financial issues are affecting employees’ work productivity, 64 per cent of […]
The Council of Parties to the United Nations’ climate convention, known as COP26, which is currently underway in Glasgow has put climate change on the global stage and top of mind for many employers and employees. There are many elements an employer can take into consideration when crafting a benefits strategy — competitiveness in the […]
Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]
While the rollout of vaccines has the world cautiously optimistic about an economic recovery, a Scotiabank survey shows the coronavirus pandemic has Canadians concerned about their retirement future. According to the survey, 72 per cent of Canadians said they’re worried they’re not saving enough for retirement, while one-third (32 per cent) said they won’t be […]