As the coronavirus pandemic continues, a third (30 per cent) of Canadians have altered their career goals, with workers aged 40 and younger more likely to report their goals have changed, according to LifeWorks Inc.’s latest mental-health index. In addition, the survey, which polled 3,000 working Canadians, found that, although more than two-thirds (68 per cent) […]
While a majority (75 per cent) of Canadians are making their financial wellness a priority in 2022, only 52 per cent expressed confidence about the retirement plan they have in place and fewer (43 per cent) were confident they’re saving enough to retire how and when they want, according to a new survey by the Canadian […]
Three-quarters (73 per cent) of U.S. employees said their employer needs to offer more resources to help them manage their personal finances, according to a new survey by personal finance platform Ramsey Solutions. The survey, which polled more than 3,000 full-time workers, found only 23 per cent had access to employer-provided financial wellness benefits. Among […]
A new multi-employer pension plan is being created for Canadian incorporated physicians. The Medicus Pension Plan, developed by MD Financial Management Inc. and Scotiabank, will provide physicians with predictable lifetime retirement income based on personal earnings and years of service with their medical corporation, while pooling investments, longevity and economic risks among all plan participants, […]
The average 45-year-old Canadian employee earning $60,000 per year will need to accumulate $1.4 million in retirement savings by age 65 if they want to retire comfortably, according to a new report by Aon. It found since 2019, the average employee requires an additional $100,000 in private retirement savings, partly due to a one per […]
More than a third (36 per cent) of Canadians aged 18 to 25 have already begun planning and saving for retirement, according to a survey by online real estate investment marketplace Fundscraper Capital Inc. “It’s well documented that generation Z and younger millennials have had it much harder than previous generations when it comes to career […]
An article on British Columbia’s paramedics and their need for enhanced mental-health benefits was the most read story over the past week on BenefitsCanada.com. Here are the five most popular news stories of the week: 1. B.C. paramedics seeking enhanced mental-health benefits 2. Canadian pension plans overcoming legislation, governance challenges: webinar 3. Ontario’s DB pension plans should take steps […]
A third (34 per cent) of U.S. retirees who took a lump sum from their defined contribution pension plan in retirement depleted that sum within an average of five years, according to a new survey by MetLife Inc. “There can be significant drawbacks for retirees when taking a lump sum,” said Melissa Moore, senior vice-president […]
Nearly two years into the coronavirus pandemic and the uncertainties brought on by the Omicron variant, markets held up in the last three months of 2021 with capital accumulation plan member outcomes continuing to improve. According to Eckler Ltd.’s latest CAP income tracker, a typical male plan member retiring at age 65 at the end of […]
Representatives from a few of Canada’s most progressive pension plans weighed in on topics ranging from plan design to the various challenges posed by legislation and governance during a webinar hosted by the Association of Canadian Pension Management last week. Orla Cousineau, executive director of pensions at the University of British Columbia, said the province’s […]