With studies showing high levels of employee stress about their finances that’s translating into lost productivity, absenteeism or health issues, the time is right for financial wellness programs in the workplace. There’s an opportunity for employers to step in and offer much-needed guidance, but they could (and should) be helping workers with far more than the basic advice about […]
Ernst & Young has introduced an online retirement modelling tool to help employees prepare for life after work. Since its launch at the end of January, 25 per cent of the firm’s employees have logged in to register and use the tool, with about 55 per cent of that group under the age of 40. “I was pleasantly surprised. It’s […]
Fewer than half (41 per cent) of Canadians are putting money in an investment vehicle such as a registered retirement savings plan or a tax-free savings account, according to a new survey by BMO Financial Corp. The survey, which polled 1,500 Canadians, also found 59 per cent of respondents are simply putting money in their savings accounts and leaving it […]
While retirement may not yet be at the top of millennials’ priority lists, it won’t be long before they arrive on the pension scene. How can the industry prepare for their arrival? And what might the rejuvenation look like? Let’s start by examining the pension world as we know it today. On the workplace front, […]
Canadians have been contributing less to their registered retirement savings plans so far this year, according to a new survey by BMO Financial Corp. Its annual survey found that while 47 per cent of respondents have already contributed or plan to do so before the March 1 deadline, 36 per cent aren’t planning to make a […]
Ahead of the next federal budget, the Canadian Life and Health Insurance Association is recommending the government allow Canadians to hold annuities within tax-free savings accounts. The CLHIA noted in its submission to the Department of Finance that more Canadians are reaching retirement without the security provided by a defined benefit pension plan. As such, it […]
More than 60 per cent of Canadians are concerned they’ll outlive their retirement savings and 45 per cent don’t feel confident they’ll be able to afford the post-work lifestyle they want, according to a new survey by RBC Insurance Services Inc. The survey, which polled 1,000 Canadians aged 55 to 75, also found respondents use a […]
Decumulation is a clear and significant concern for the sponsors of capital accumulation plans, the results of Benefits Canada’s 2017 CAP Member Survey show. The annual survey found 61 per cent of plan sponsors would be likely to allow their members to leave their assets within their plans after they retire if regulations allowed. Of […]
A new report on income security in Ontario is recommending that the provincial government expand the provision of essential health benefits to all low-income people and modernize income and asset rules to ensure people can save for the future, according to a new report by the income security reform working groups. A substantial component of Ontario’s […]
The Canadian government will discontinue the Canada savings bond and Canada premium bonds program on Nov. 1, 2017. While existing bonds will continue as usual until they mature or the purchaser redeems them, the option of buying them through a payroll savings program will now be off the table. The program reached peak popularity in the 1980s, but […]