Financial literacy – Benefits Canada.com

Award finalists discuss mental health, enhanced communications amid pandemic

bwolfe — Mon, 01 Nov 2021 13:00:09 +0000

More than 19 months into the coronavirus pandemic, employers are focusing on enhanced mental-health offerings and streamlined communications for their benefits and pension plans. During a virtual roundtable on Oct. 14, the 2021 Workplace Benefits Awards finalists discussed the changes brought about by the pandemic and how they’ve adapted their benefits and pensions offerings, while looking […]

The post Award finalists discuss mental health, enhanced communications amid pandemic appeared first on Benefits Canada.com.

U.S. employees lacking access to financial wellness programs: survey

bwolfe — Tue, 27 Jul 2021 19:00:19 +0000

A majority (63 per cent) of U.S. employees said their employer doesn’t offer a financial wellness program, according to a new survey by the Defined Contribution Institutional Investment Association. It found only 18 per cent of respondents have access to financial wellness resources through their employer and, of these respondents, just eight per cent have […]

The post U.S. employees lacking access to financial wellness programs: survey appeared first on Benefits Canada.com.

Head to head: Should Canadian policy-makers facilitate a workplace emergency savings benefit?

ANNA CAMPION — Fri, 16 Apr 2021 12:58:06 +0000

With many employees struggling with finances since the coronavirus pandemic started last March, two experts weigh in on the viability of offering a workplace emergency savings benefit. Elizabeth Mulholland, chief executive officer of Prosper Canada Policy-makers should absolutely be considering ways to facilitate a wider range of affordable, quality workplace savings options and to more […]

The post Head to head: Should Canadian policy-makers facilitate a workplace emergency savings benefit? appeared first on Benefits Canada.com.

How employers can support employees’ financial literacy, wellness amid DIY-investing craze

bwolfe — Fri, 05 Mar 2021 05:00:44 +0000

Possibly getting rich quick with a few swipes on one’s phone certainly sounds appealing and based on recent statistics and news reports, more and more Canadians are diving headfirst into the choppy do-it-yourself investing waters. According to Investor Economics, a financial services research firm, Canadians opened more than 2.3 million gross new accounts between January […]

The post How employers can support employees’ financial literacy, wellness amid DIY-investing craze appeared first on Benefits Canada.com.

Canadians’ financial well-being on the decline: survey

mschmit — Thu, 11 Feb 2021 05:00:52 +0000

The financial well-being of Canadians has declined over the last year, according to a new survey by Morneau Shepell Ltd. It rated Canadians’ overall financial health as of January 2021 at -2.8, indicating a decline from the previous year. Women reported a lower score (-5.1) than men (-0.6), with male respondents reporting improvement in some […]

The post Canadians’ financial well-being on the decline: survey appeared first on Benefits Canada.com.

Arthritis Society focusing on responsive approach to financial education

mschmit — Mon, 16 Nov 2020 05:00:54 +0000

With the ongoing coronavirus pandemic raising economic concerns, the Arthritis Society is taking a responsive approach with its Financial Literacy Month initiatives during the month of November. “We’re reading the pulse,” says Cheryl McClellan, the organization’s chief operating officer. “We haven’t seen a lot of people stressed directly in our organization, but generally, we understand […]

The post Arthritis Society focusing on responsive approach to financial education appeared first on Benefits Canada.com.

Canadians plan to work longer, fear finances won’t recover after pandemic, finds surveys

mschmit — Thu, 29 Oct 2020 11:00:48 +0000

While working Canadians expect to retire, on average, at age 62, they’ll require $878,000 in retirement savings, more than twice the amount of current retirees, according to a new study by Mackenzie Investments. It found 45 per cent of respondents who are still working said they plan to continue doing so in some capacity, compared […]

The post Canadians plan to work longer, fear finances won’t recover after pandemic, finds surveys appeared first on Benefits Canada.com.

Tips for helping staff piece together their retirement income puzzle

mschmit — Fri, 18 Sep 2020 04:56:13 +0000

Retirement income can be sliced into three broad categories: what an individual receives from their employer, what they receive from the government and everything else. While plan sponsors are naturally most concerned with what they provide for plan members, including all forms of income in the conversation is integral to properly planning for retirement, says […]

The post Tips for helping staff piece together their retirement income puzzle appeared first on Benefits Canada.com.

Plan Sponsor Week: Retirement planning a holistic process

mschmit — Fri, 04 Sep 2020 04:39:13 +0000

Retirement and savings programs should motivate plan members to think about how they want to spend their time in retirement as well as their money. “If we focus in just on the financial part of the equation and then [plan members] get to that point where [they’re] retiring, not only might they not have enough money to do the […]

The post Plan Sponsor Week: Retirement planning a holistic process appeared first on Benefits Canada.com.

Planning for retirement should be a holistic process

mschmit — Fri, 04 Sep 2020 03:43:56 +0000

The post Planning for retirement should be a holistic process appeared first on Benefits Canada.com.