7 11, 2022

Employers favouring wage hikes over benefits enhancements amid high inflation

2022-11-07T11:24:18-08:00November 7th, 2022|Categories: Economy|Tags: , , |

Source: Benefits Canada While Canadian employers recognize the value of retirement benefits, the current high inflation environment is driving them to favour wage hikes instead, according to a new survey by the Healthcare of Ontario Pension Plan and Angus Reid Group. The survey, which polled nearly 800 business owners and senior leaders, found employers’ leading concerns are greater competition for hiring (82 per cent), employee burnout (79 per cent), labour shortages (79 per cent) and high turnover (77 per [...]

23 09, 2022

The U.S. retirement system gets a ‘C+’ grade, experts say — even though it’s worth $39 trillion. Here’s why

2022-09-23T16:16:41-07:00September 23rd, 2022|Categories: Retirement|Tags: |

By Greg Iacurci Source: CNBC The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment Company Institute. However, the U.S. places well outside the top 10 on various global retirement rankings from industry players, such as the Mercer CFA Institute Global Pension Index and Natixis Investment Managers [...]

16 08, 2022

How Unions Pave the Path to Elder Security

2022-08-16T08:58:53-07:00August 16th, 2022|Categories: Retirement|Tags: , , |

Source: American Society on Aging Despite America’s vast wealth, more than 15 million older Americans—one-third of people ages 65 and older—are “economically insecure,” meaning they are poor or near-poor, according to the National Council on Aging. Half of all Black and Latinx people ages 65 and older are in this precarious situation, and older women are especially likely to be poor. These financially fragile older Americans “struggle with rising housing and health care bills, inadequate nutrition, lack of access [...]

3 05, 2022

Jaw-Dropping Stats About the State of Retirement in America

2022-05-03T13:41:57-07:00May 3rd, 2022|Categories: Retirement|Tags: |

By Jordan Rosenfeld Source: Yahoo! Finance Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming -- it means being strategic and focused on saving money, among other things. The average age of retirement for Americans is 66, according to a Gallup poll, which is up from age 60 in the 1990s. With Americans living an average of 78.7 years, that's a good 12 or [...]

22 11, 2021

Employers see retirement benefits as top attraction, retention tool

2021-11-22T15:43:29-08:00November 22nd, 2021|Categories: Retirement|Tags: , , |

By Lauren Bailey Source: Benefits Canada A majority of Canadian employers believe providing workplace retirement savings plans can improve employee attraction and retention, according to a survey by Maru Group Ltd. on behalf of the Healthcare of Ontario Pension Plan. The survey, which polled 800 Canadian employers, found 88 per cent of those that offer a defined benefit pension plan said it was “extremely important” or “very important” to their employee retention efforts, followed by 85 per cent of [...]

18 08, 2021

Pandemic pushed an additional 1.7 million Americans into retirement

2021-08-18T16:27:13-07:00August 18th, 2021|Categories: Retirement|Tags: , |

By Stephanie Asymkos Source: Yahoo! Money The pandemic forced more older workers to retire — often before they were ready financially — a new study found, widening the country’s growing retirement inequality gap and leaving certain baby boomers vulnerable to poverty in their golden years. During the pandemic, an additional 1.7 million Americans retired earlier than what would have been expected during the normal times, according to a recent report from The New School’s Retirement Equity Lab. While the [...]

16 08, 2021

US. Pandemic Puts Secure Retirement at Greater Risk for Many

2021-08-16T08:01:33-07:00August 16th, 2021|Categories: Retirement|Tags: , |

Source: Pension Policy International The COVID-19 pandemic has had an outsize effect on people 50 and older: Not only did it impact older adults’ health more severely than younger ones, but it also forced many into early retirement and prompted others to take withdrawals from their savings earlier than they had planned. “The prospects of a secure retirement for millions of workers will be even more precarious following the pandemic, and more Americans of all ages will need to [...]

22 07, 2021

Now Is The Time To Re-Think Retirement Plan Conventional Wisdom

2021-07-22T14:48:10-07:00July 22nd, 2021|Categories: Retirement|Tags: |

By Dan Doonan Source: Forbes Retirement plan design can make or break an employee’s ability to maintain their standard of living in retirement. Over the past several decades, many private sector companies implemented a complete overhaul in retirement plan design, shifting from defined benefit pensions to 401(k)-style defined contribution accounts. Originally designed to supplement rather than replace pensions, 401(k) plans have become the primary employer-sponsored plan for many U.S. workers. This transition meant sacrificing a number of important features [...]

27 04, 2021

A Graying China May Have to Put Off Retirement. Workers Aren’t Happy.

2021-05-13T08:05:25-07:00April 27th, 2021|Categories: Retirement|Tags: , |

By Vivian Wang and Joy Dong Source: The New York Times For Meng Shan, a 48-year-old urban management worker in the Chinese city of Nanchang, retirement can’t come soon enough. Mr. Meng, who is the equivalent of a low-level, unarmed law-enforcement official, often has to chase down unlicensed street vendors, a task he finds physically and emotionally taxing. Pay is low. Retirement, even on a meager government pension, would finally offer a break. So Mr. Meng was dismayed when [...]

30 06, 2020

A Pandemic Problem for Older Workers: Will They Have to Retire Sooner?

2020-06-30T08:46:57-07:00June 30th, 2020|Categories: Retirement|Tags: , |

Dorian Mintzer loves her work. A 74-year-old psychologist, coach and author, she has no plan to retire, and has continued to work during the pandemic, doing teletherapy from her home in the Boston area. Now, like millions of other older working Americans, Dr. Mintzer is uncertain about the future of her job — much will depend on whether health insurers continue to cover teletherapy post-pandemic. “I’m going to keep working virtually — the idea of going into an office [...]

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