In the fall of 2021, 39-year-old Krista Lehman quit her job as a program assistant at a Vancouver post-secondary institution to take a mental-health break and pursue other career options. When it came to her defined benefit pension plan, her employer’s human resources department provided her with a package that offered her the choice of […]
In 2020, LifeLabs Inc. embarked on a year-long journey to redesign its group registered retirement savings plan and deferred profit-sharing plan to make them less cumbersome, easier to administer and to boost engagement among employees. Under the original plans, which were in place for more than 10 years and linked to employees’ years of service, […]
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 […]
While Canadians continue to use registered retirement savings plans for retirement planning, knowledge about RRSPs has declined over the past five years, according to a new survey by BMO Global Asset Management. It found 56 per cent of respondents know how much they can contribute to the account, a six per cent decrease since 2016. […]
Almost two in five (39 per cent) Canadians are confident in their retirement plan, according to a survey conducted by Pollara Strategic Insights for the Bank of Montreal Financial Group. The survey, which polled 1,500 adult Canadians, found while respondents said they need $1.6 million to retire securely, just under half (44 per cent) were […]
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 […]
Nearly a third (29 per cent) of Canadians expressed concern about the impact of rising inflation on their retirement savings, according to a new survey by the Royal Bank of Canada. It found concerns about inflation were highest among respondents aged 25 to 34 (40 per cent). In addition to inflation, which reached a 30-year […]
Despite the financial challenges experienced by Canadians over the course of the coronavirus pandemic, 40 per cent said they’ve continued to save for retirement, according to a new survey by life insurance provider PolicyMe Corp. More than half (54 per cent) of survey respondents said they’re adding to their emergency funds, while 48 per cent […]
Canadian employees want more comprehensive coverage under their benefits plans, according to a survey by the Conference Board of Canada and Telus Health. The survey, which polled more than 1,500 Canadian workers, found a majority (82 per cent) of respondents want basic dental services (such as preventative and minor restorative) covered by their benefits plans, […]