During the DC Plan Summit, participants broke off into small groups to discuss the major challenges facing plan sponsors. Here are some highlights of the sessions and key takeaways for participants: Moderator: Jean-François Pelletier, regional vice-president, Quebec, group retirement services, Sun Life Financial Topic: Retirement readiness in the DC world For many plan sponsors, income […]
During the DC Plan Summit, participants broke off into small groups to discuss the major challenges facing plan sponsors. Here are some highlights of the sessions and key takeaways for participants: Moderator: Sharon Seifried, national vice-president, group retirement solutions corporate accounts, Manulife Topic: Why can’t people see into the future? A closer look at near-sightedness […]
Canadian Tire Corp. was an early adopter of profit sharing as a way to include all of its employees in the success of the company, but a big feature of the program that sets it apart is its use as a retirement savings account that automatically registers employees. “We do believe we have quite a […]
More than half (54%) of Canadians are making saving for the long term, including retirement, their primary financial priority, according to a new survey. The RBC Financial Independent in Retirement poll also found that saving for a rainy day ranked second at 46% and regular payments to reduce or eliminate debt ranked at 42%. According […]
Employers aren’t doing all they can to help employees make a smooth shift to retirement. Neglecting to properly phase employees out of the workforce is, at the very least, a missed opportunity for employers and, in certain cases, a threat to productivity and profitability. Current Levels of Support A recent Morneau Shepell survey asked Canadian […]
If a Buddhist monk moved out into the secular world, he’d be leading a life similar to the one Mr. Money Moustache (MMM) leads. Now in his early 40s, this Canadian retired about 10 years ago by using his own form of extreme frugality. He saved at least 50% of his take-home pay and invested […]
More than half of Ontarians without workplace pensions (58%) saved nothing for retirement over the last year, according to a new Healthcare of Ontario Pension Plan poll. More than 80% of respondents fear that without better pension coverage Ontario will be headed for a retirement income crisis, where senior poverty is an issue. The research […]
Baby boomers are saying they plan to work longer. This can be good or bad news. Many companies can benefit from keeping their mature workers (the baby boomers) longer; others will need to ensure these employees are leaving when they need them to. In 2014, Statistics Canada reported boomers currently make up about one-third of […]
Many Canadians don’t know how much they will need to save for retirement on their own and to what extent they should rely on government programs, MoneySense reports. Using free online programs is one way to understand how much income one can get in retirement, the article says. Read the full story here.
Many Canadians in their late 40s and early 50s have large amounts of debt and little savings for retirement, CBC reports. On top of that, a number of pre-retirees see their homes as their retirement plans, but the story says that’s problematic because most seniors don’t want to leave their homes and they haven’t fully […]