Baby Boomers – Benefits Canada.com

Dynamic pension pools a viable decumulation option for Canadians: report

bwolfe — Tue, 16 Nov 2021 14:00:45 +0000

With 10 million Canadian baby boomers entering retirement, dynamic pension pools could help seniors turn their accumulated savings into low-cost lifetime pension income, according to a new report by Ryerson University’s National Institute on Ageing and the Global Risk Institute. According to the report, dynamic pension pools can help Canadians optimize their expected lifetime retirement […]

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Pandemic changing ‘must have’ perks for U.S. millennial managers: survey

mdunne — Fri, 24 Sep 2021 19:00:36 +0000

The coronavirus pandemic is changing what perks millennial managers consider “must haves,” according to a new survey by MetLife Inc. It found millennial managers (ages 26 to 40) are significantly more likely to describe pet insurance (up 58 per cent), legal services (up 50 per cent) and financial planning tools (up 40 per cent) as “must […]

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Income inequality reducing retirement security in U.S.: report

bwolfe — Wed, 08 Sep 2021 13:00:11 +0000

Income inequality in the U.S. is contributing to the growth of financial insecurity in retirement, exacerbated by a shift from pensions to individual 401(k) savings accounts, according to a new report by the U.S. National Institute On Retirement Security. It found in 2019, white households across three generations — baby boomers, generation X and millennials […]

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Canadian employees opting for hybrid work, thriving less than global peers: survey

bwolfe — Wed, 21 Jul 2021 13:00:16 +0000

Nearly two-thirds (61 per cent) of Canadian employees said they prefer a hybrid or remote working arrangement, according to a new survey by Accenture. It found 37 per cent of Canadian respondents said they feel they can be productive and healthy primarily while working remotely, while another 41 per cent said they can be productive […]

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Gen X, millennials more worried about retirement than older generations: report

Jennifer Paterson — Tue, 20 Jul 2021 19:00:43 +0000

Millennials and generation X are more worried about retirement than older generations in the wake of the coronavirus pandemic, according to a new survey of U.S. workers by the National Institute on Retirement Security. Some 64 per cent of millennials (ages 25 to 43) and 54 per cent of gen-Xers (ages 44 to 55) are […]

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Number of employees retiring, quitting could rise as pandemic recedes: report

lbailey — Wed, 14 Jul 2021 13:00:14 +0000

Employees choosing to retire or quit could rise in the second half of 2021 alongside the coronavirus pandemic receding, according to a report by the Royal Bank of Canada. The number of retirements in Canada fell about 20 per cent last year compared with the 12 months that ended February 2020, says Andrew Agopsowicz, a […]

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Age shaping Canadians’ opinions of remote working: survey

bwolfe — Wed, 09 Jun 2021 19:00:31 +0000

Canadian employees’ remote working experiences vary across different generations, according to a new survey by Angus Reid on behalf of ADP Inc. It found while 44 per cent of respondents said they work longer compared to pre-coronavirus pandemic times, 48 per cent of millennials and just 31 per cent of generation Z are clocking extra […]

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Six employees discuss their personal roads to retirement

ANNA CAMPION — Fri, 19 Mar 2021 04:57:15 +0000

While 65 has long been considered the traditional retirement age, younger employees face the possibility of working longer. Plan sponsors can learn much from the unique financial journeys taken by different generations toward their eventual golden years. A 2019 Scotiabank investment poll revealed that 68 per cent of Canadians are currently saving for retirement, but […]

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Young Canadians focusing on retirement, financial security amid coronavirus crisis: survey

bwolfe — Tue, 16 Mar 2021 05:00:37 +0000

Young Canadians are increasingly planning their financial futures as the world faces down the second the year of the coronavirus pandemic, according to a new survey by Sun Life Financial Inc. It found that 89 per cent of generation Z (ages 18 to 23) and 80 per cent of millennials (ages 24 to 39) are […]

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25% of Canadians cutting back savings, RSPs amid pandemic

mschmit — Thu, 28 Jan 2021 05:00:20 +0000

Since the World Health Organization declared a global pandemic almost 11 months ago, the resulting economic uncertainty as the coronavirus crisis drags on has resulted in some employees finding it increasingly difficult to save for the future, according to a recent survey. The survey by Ipsos for Toronto Dominion Bank revealed one quarter (25 per […]

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