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HUB International BENEFITS Insurance
Group Benefit and Financial specialists backed by Canada's largest insurance team
You get more than just great advice when you deal with our BENEFITS specialists at HUB International Insurance Brokers. You receive the combined power of our vast global resources and solid local relationships, designed to give you the best-possible solution for employers or individuals alike.

Survey Shows Canadians Willing to Pay for Better Retirement Benefits

A recent survey found that 62% of Canadian employees would be willing to pay more out of their paycheque in order to receive a more generous retirement benefit.  The survey conducted by Willis Towers Watson polled over 2,000 Canadian employees and found that 65% of employees would be willing to pay more in order to receive a pension that was guaranteed for life.

Paying for improved retirement benefits spanned all age groups, with 71% of baby boomers, 65% of Generation X, and 56% of Generation Y stating they would pay a higher amount out of their pay each month to ensure a guaranteed retirement benefit.

For those employees who expect to retire after the age of 70, 54% of them indicated having above average stress levels, compared to 30% of those expecting to retire before 65.  For those expecting to retire after age 70, 46% say they’re in good health, while 61% of those who expect to retire before age 65 said the same.  36% of employees who expect to work past age 70 feel they’re stuck in their jobs, compared to 27% of those who anticipate retiring before age 65.

Article source: 62% of Canadians Would Pay for Better Retirement Benefit by Benefits Canada (June 15, 2016).

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