Among Canadians with a retirement plan, 77 per cent said they’re confident they’ll have enough money to last the rest of their lives, compared to 52 per cent without one, according to a new survey by Franklin Templeton Canada. The survey, which was conducted in February, prior to the coronavirus pandemic, also found that among […]
Even as Canada begins to reopen from coronavirus lockdown, uncertainty remains high and Canadians need employer mental-health supports more than ever. According to Morneau Shepell Ltd.’s latest mental-health index, Canadians’ mental-health score sat at negative 11 in June. The index measures the score based on a pre-2020 benchmark of 75. While June’s score was one […]
During the coronavirus pandemic, employers and employees have seen major changes to their group retirement plans. For example, many employees who were able to continue working during the pandemic have seen employer contributions reduced or fully suspended. And some employees have seen this in addition to a pay cut or reduced hours. Of course, financial wellness has […]
More than a third (40 per cent) of pre-retirees have a negative outlook on their life in retirement, the highest rates of negative retirement perception among survey respondents since 2014, according to the latest annual survey by Fidelity Investments Canada. The same percentage said their salary or earnings have decreased due to the coronavirus pandemic. […]
As you’ll read in this issue’s cover story, our 2020 CAP Member Survey was fielded at the end of March and early April, targeting respondents as they were beginning to face the financial impacts of the coronavirus pandemic. While we still asked our annual questions about capital accumulation plan members’ retirement readiness, we also wanted […]
Employers across Canada are facing a number of challenges in the midst of the coronavirus pandemic, including staying connected with employees and looking after their well-being. “Our people are our most important resource,” says Michelle Desnoyers, Canada benefits and human resources information services lead at Fluor Canada Ltd. “At such a challenging time, we want […]
As if preparing for retirement wasn’t already a steep challenge, along comes the coronavirus pandemic and its impact on the global economy, throwing up even more obstacles for capital accumulation plan members to maneuver. This year’s annual CAP Member Survey, supported by Actuarial Solutions Inc. and Morneau Shepell Ltd., fielded its questions between March 30 […]
With many Canadians dealing with financial stress, employers are uniquely positioned to help, but their financial wellness programs must go beyond just literacy. “[Everyone] has heard the term financial literacy, but as we know, it’s not enough,” said Saijal Patel, founder and chief executive officer of Saij Wealth Consulting Inc., during a Canadian Pension and Benefits Institute webinar earlier […]
A quarter (26 per cent) of Canadians indicated moderate to severe anxiety levels, 23 per cent said they felt lonely occasionally or most of the time in the past week and 20 per cent reported feeling depressed occasionally or most of the time in the past week, according to a new survey by the Centre […]
While Morneau Shepell Ltd.’s latest mental-health index had the same score — a negative 12-point decline from the pre-coronavirus pandemic benchmark of 75 — as last month’s index, the sub scores showed a modest improvement in anxiety countered by a larger increase in isolation. The main factors contributing to poorer mental health in the month […]