iAtoday

By François Bertrand-Fradet, FSA, FCIA
Director, Financial Advice and Business Data Insights
Group Benefits and Retirement Solutions

Did you know that 42% of Canadians say that financial worries are their main source of stress?¹ 

This directly affects both people and organizations, especially in terms of mental health, productivity and talent retention.

Despite this, we notice that people fail to take action when it comes to saving and retirement—usually because they lack financial literacy or appropriate advice—eroding their peace of mind.

To help your clients understand the scope of these issues, my article Financial wellbeing: Lasting benefits for people and organizations draws on key findings from our white paper to highlight the importance of incorporating financial wellbeing into group retirement savings plans. 

My analysis examines:

• How economic conditions impact financial health and organizational performance
• The consequences of inaction on savings and retirement
• The value of an approach focused on financial wellbeing
• The benefits of financial literacy and tailored advice

Act now

In my analysis, I argue that in times of economic uncertainty, financial wellbeing becomes a strategic concern. The data speaks for itself: nearly half of people (46%) facing financial stress spend an average of 3.5 hours per week dealing with it during work hours.² Over the course of a year, this can amount to four lost weeks of work.

Employers have a key role to play in helping their staff optimize their financial wellbeing. Incorporating financial education and tailored financial advice into a group retirement savings plan empowers plan members to take control of their financial health and improve their quality of life.

In my view, integrating financial wellbeing into total wellbeing strategy, just like mental, physical and social health, is no longer a choice—it’s essential for organizations aiming for long-term success and excellence.

We help employers get ahead

Our offer includes a range of products and services that empower your clients to turn their group retirement savings plan into a true competitive advantage while helping their teams optimize their financial health:

• Personalized advice service
• Plans: RRSP, TFSA, FHSA, DB/DC-RPP, DPSP, SPP, VRSP, IPP, non-registered plan, annuities, RRIF, LIF, etc.
• Financial Wellness Zone (My Client Space)
• Education team and website, including webinars, articles and calculators/simulators

To learn more, contact an Account Executive.

¹ Financial Stress Index | FP Canada 2025

² Financial Consumer Agency of Canada: Infographic: calculating the cost of employee financial stress on productivity