As a financial institution that provides banking and wealth management services to customers, Meridian Credit Union ensures it also offers employees a comprehensive suite of services to support their financial wellness. This includes a defined contribution pension in which staff contribute a mandatory three per cent of annual earnings, with the employer contributing between three […]
An article on Samsung Electronics Co. Ltd.’s win in the Health/Wellness Program category for employers with fewer than 1,000 employees at Benefits Canada’s 2024 Workplace Benefits Awards 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. Samsung’s multi-faceted well-being strategy leads to […]
Young Canadian employees are facing a series of headwinds stemming from rising housing costs and decades of inaction by the federal government to support retirement savings, said Paul Kershaw, founder of not-for-profit organization Generation Squeeze and a policy professor at the University of British Columbia, during the keynote session at Benefits Canada’s 2024 Defined Contribution […]
The majority of Canadian defined contribution plan members are invested in the appropriate target-date fund vintage and those who are may be better prepared for retirement, according to research by Fidelity Investments. The research, which examined data from Canadian record keepers to understand investors’ savings behaviours in a DC context, found about 70 per cent of […]
The rising cost of living in the post-pandemic era has impacted all aspects of employees’ financial wellness, including retirement savings. In 2023, Hofmann-La Roche Ltd. examined the savings needs of its multigenerational workforce and determined more flexibility was required to encourage employees to set aside retirement savings, said Rana Kassab (pictured right), the company’s director […]
Nearly two-thirds (61 per cent) of Canadians say they’re afraid of running out of money in retirement, according to a new survey by the Canada Pension Plan Investment Board. The survey, which polled more than 4,700 Canadian adults, found more than two-thirds (67 per cent) of employees aged 28 to 44 are afraid they’ll run […]
An article on Amazon Canada’s win in the Financial Wellness Program category at Benefits Canada’s 2024 Workplace Benefits Awards 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. Amazon Canada’s new estate planning benefit key to financial wellness win 2. Half of Canadian employees behind […]
Half (51 per cent) of Canadian employees say they’re behind in their retirement savings and 34 per cent are worried about not having enough money saved when they retire, according to a new survey by Manulife Financial Corp. The survey, which polled more than 1,500 employees and more than 500 retirees, found generation X (35 […]
A new retirement savings vehicle could benefit members of the Colleges of Applied Arts and Technology’s pension plan by streamlining investment choice and maximizing their personal retirement savings, says Jason Vary, president of Actuarial Solutions Inc. This month, the CAAT pension plan launched an optional savings account that allows plan members to transfer in their […]
The Ontario Municipal Employees’ Retirement System recently launched a new hub on its member website dedicated to retirement income sources. The new webpage is designed to support the OMERS’ members on their retirement savings and planning journey, emphasizing the importance of a secure and stable income foundation in retirement. This includes interactive tools to illustrate the […]