While workplace savings programs have traditionally focused on retirement, there has been a shift in recent years to facilitate employees’ changing financial priorities and savings journeys. Benefits Canada’s 2025 Employee Savings Survey (formerly known as the CAP Member Survey) found three-quarters (73 per cent) of Canadian employees ranked paying for day-to-day expenses among their top […]
While legal requirements around pay transparency vary across different jurisdictions, employers that offer context around pay decisions can build trust with employees by providing clearer visibility into compensation expectations and signalling a commitment to fairness, says Kelly Voss, head of rewards and career for North America at Aon. “Those that embrace transparency as part of […]
Canadian people managers who have left or are planning to leave their role say factors such as lack of fulfilment or advancement (49 per cent), inadequate compensation (41 per cent) and mental-health issues (31 per cent) influenced their decision, according to a new survey by the Harris Poll on behalf of Express Services Inc. The […]
Half (50 per cent) of Canadian generation Z workers say they’d prefer a senior role that doesn’t involve people management, compared to 44 per cent of generation X, 42 per cent of millennials and 19 per cent of baby boomers, according to a new survey by Robert Half Canada. “It may reflect the fact that […]
The implementation of variable payment life annuities in Quebec will support employee financial well-being and retirement readiness, while providing a model for other Canadian jurisdictions, says Louis-Bernard Désilets, an associate at Normandin Beaudry. “Currently, there’s approximately $1.5 trillion in retirement savings accumulated in [registered retirement savings plans] and [defined contribution] plans in Canada, with likely […]
The Canadian pension risk transfer market reached record-breaking demand in 2024 with $11 billion in deals at the end of the year, eclipsing the $7.8 billion combined total of annuities transactions in 2023 and 2022. Indeed, the fourth quarter of 2024 alone saw $5.2 billion of overall transactions, split between $1.5 billion in buy-ins and […]
Two-thirds (67 per cent) of Canadians say they’re very concerned about how Canada-U.S. relations, along with the cost of living (67 per cent) and general economic uncertainty (65 per cent), will impact their retirement savings, according to a new survey by the Healthcare of Ontario Pension Plan. The survey, which polled more than 2,000 Canadians, […]
Amazon Canada is supporting employees who are new Canadians through its new immigration legal referral program. The program, which is available to all full- and part-time employees across Canada, provides access to legal counsel for themselves and their families at an affordable price. The available legal services, provided through immigration law firm Green and Spiegel […]
As the role of pharmacists in the Canadian health-care landscape continues to evolve, there are opportunities for plan sponsors to integrate these professionals into their health benefits offerings, says Martin Belanger, senior vice-president of payer and provider solutions at Telus Health. While a fifth (22 per cent) of Canadians don’t have access to a family […]
Canpotex Ltd. is supporting employee financial wellness with its new first home savings account. The FHSA, introduced in the federal government’s 2023 budget, allows Canadians to accumulate tax-free savings, within certain limits, towards the purchase of a first property. The Saskatchewan-based potash exporter recently added the savings option for its 157 Canadian employees following discussions […]