Mercer and Wealthsimple Inc. are teaming up to create a digital saving and investing platform for Canadian employees. Mercer Invest Wise, which is a voluntary savings tool, is intended to be included in a total rewards package. Accessible online and as a mobile app, it allows employees to manage various savings and investment accounts, such as their […]
Shaw Communications Inc.’s Kristina Humphreys talks financial well-being, plan flexibility and league hockey. Q. What top challenges do you face in your role? A. A big challenge is finding effective ways to communicate with our employees because it’s across many locations, demographics, different career points, etc. Also, retirement may feel very far away for a […]
Though more than half of Canadian capital accumulation plan members feel financially prepared for retirement, there’s a distinct difference across generations. Given their proximity to retirement, it’s no surprise baby boomers (69 per cent) are the age cohort most likely to agree they feel prepared, compared to 59 per cent of generation X and 41 […]
In determining which savings options to offer employees, a key component is understanding the workforce and its goals, as well as communicating the offering in a way they can understand, according to a panel on engaging workers in defined contribution pensions at Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. Thak Bhola, […]
Employers could play a role in encouraging low-income Canadians to save more for retirement by offering group tax-free savings accounts, according to a report by the Institute for Research on Public Policy. The report found that, since their introduction in 2009, TFSAs have become nearly as popular as registered retirement savings plans, and could even go […]
A new paper from Ryerson University’s National Institute of Ageing is calling for the creation of workplace tax-free pension plans to better support Canadians’ financial security in retirement. Under the current workplace registered pension plan model, noted the research, lower to middle income Canadians are essentially discouraged from saving for retirement due to the potential financial […]
In a showdown between tax-free savings accounts and registered retirement savings plans, Canadians have a clear favourite: more than half said they prefer to put their money in a TFSA, according to a new survey by the Bank of Montreal (BMO). The problem is almost one-third (32 per cent) don’t know the difference between the two savings plans. Among millennials, […]
The Canadian Automobile Association Atlantic Ltd.’s vice-president of human resources talks employee wellness and education, tax-free savings accounts and learning how to code. Q. What are the top challenges you face in your role? A. I would say trying to balance programs that fit the needs of everyone. It’s difficult. We have fleet drivers out […]
Defined benefit pension plans aren’t just better for Canadian workers, but for the country’s economy in general, according to a new study by the Canadian Public Pension Leadership Council. Statistics Canada data from 2018 showed 37.5 per cent of Canadian workers have some type of pension or retirement savings plan through their workplace, and 25.2 per cent […]
The introduction of more flexible annuity options for capital accumulation plans and reform to prescription drug coverage are among the recommendations by the Canadian Life and Health Insurance Association for the 2019 federal budget. In a letter to the Ministry of Finance, the CLHIA highlighted the increasing need for Canadian retirees to convert some or all of […]