savings plans – Benefits Canada.com

2023 CAP Suppliers Report: How are CAPs evolving to meet the financial needs of different generations?

bwolfe — Fri, 15 Dec 2023 13:57:38 +0000

With more than 40,000 employees across the country, Amazon Canada is a microcosm of the wider national workforce. Comprising five generations, the online retailer’s workers represent a wide spectrum of savings goals and related challenges. And to support these goals, it has developed a diverse array of options to meet staff at every stage of […]

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How employers can shift younger workers’ ‘soft saving’ mentality to focus on retirement planning

lbailey — Wed, 06 Dec 2023 14:00:12 +0000

Discouraged with the state of the current economy, more and more younger workers are abandoning saving for retirement and focusing on ‘soft saving.’ Soft saving is when employees, many of whom started their careers later than previous generations, decide to take a more laid-back approach to saving for the future, rather than adopt the FIRE concept — […]

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U.S. government launching initiative to encourage more employee ownership

lbailey — Wed, 26 Jul 2023 13:00:47 +0000

The U.S. Department of Labor is launching an employee ownership initiative to encourage more employers and employees to take advantage of these opportunities. The new initiative will fall under part of the SECURE 2.0 Act — which was passed by Congress in 2022 — and aims to empower workers through ownership arrangements and educate them […]

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2023 BPS coverage: Millennials expect more from employers, group benefits plans

Jennifer Paterson — Wed, 05 Jul 2023 11:57:49 +0000

Since 2016, millennials have made up a larger share of the working population than baby boomers — and today, one in three Canadians of working age is a millennial, according to Charmaine Alexander, senior advisor in disability management at Desjardins Insurance, speaking during Benefits Canada’s 2023 Benefits & Pension Summit in June. A recent survey […]

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WestJet, Unifor agreement includes pension, benefits gains

Sadie Janes — Thu, 11 May 2023 13:00:52 +0000

The union representing 350 WestJet employees at Toronto’s Pearson International Airport has ratified a 2.5-year collective agreement that includes pension and benefits gains. The agreement enshrines the airline’s savings plan specifically for this group of workers. The plan permits contributions to either a cash savings plan, a group registered retirement savings plan or a group […]

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2022 CAP Member Survey: Perceptions of CAPs against a changing economic landscape

Jennifer Paterson — Fri, 16 Sep 2022 12:56:32 +0000

After a tough couple of years, Canadians continue to face several challenges against an increasingly turbulent economic landscape. While most coronavirus restrictions were lifted in late spring 2022, the seventh wave of the pandemic arrived in July alongside rising inflation, which is compounding prices from the gas pump to the grocery store. Though the 2022 […]

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More plan sponsors meeting members’ retirement goals in 2021: survey

bwolfe — Thu, 29 Jul 2021 13:00:50 +0000

A majority (72 per cent) of plan sponsors believe their retirement savings plan is meeting its goals this year, up from roughly 66 per cent in 2020, according to a new survey by Fidelity Investments Inc. While 68 per cent said their employees are saving enough for retirement — up from 59 per cent in […]

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Canada Life absorbing TD Bank Future Builders’ RSP program plan members

mschmit — Wed, 06 Jan 2021 08:21:04 +0000

The Canada Life Assurance Co. is absorbing the Toronto-Dominion Bank’s TD Future Builders retirement savings plan program members as of March 19. “We believe Canada Life will deliver a strong group retirement and savings experience that supports the needs of TD Future Builder business customers and their employees, while allowing [Toronto-Dominion Asset Management Inc.] to […]

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