TORONTO, May 06, 2019 (GLOBE NEWSWIRE) -- Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today released its Global DC and Financial Wellbeing Employee Survey. A key finding: Canadian workers who participate in Capital Accumulation Plans (CAP) such as Defined Contribution pension plans (DC) and group Registered Retirement Savings Plans (RRSP) are confident about the state of their finances and say they understand money matters, but many find it hard to save for retirement and are worried about having enough money to retire. The survey found fewer than half of employees have a goal for retirement savings and, depending on other sources of income, many might find their current plan contribution levels are inadequate to ensure their total income needs in retirement.
“The good news is that the employees in our survey identified saving for retirement as a top priority and participation rates in workplace retirement plans are high, but we also found that workers are having real challenges being able to afford to save more,” noted one of the report’s authors, Rosalind Gilbert, Associate Partner in Aon’s Vancouver office. “An even more fundamental issue, however, is the lack of planning and knowledge around retirement savings and income – which is a big call to action for employers, who need to do more to educate members, provide access to financial services and equip them with holistic strategies for retirement readiness.”
Read the full Canadian DC Report here.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
For further information please contact Alexandre Daudelin (+1.514.982.4910)