For many Canadians, financial stress is simply a fact of everyday life. When you factor in making sure there’s enough money to cover day-to-day expenses, paying down debt, saving for emergencies and retirement, it’s certainly no surprise that people are worried about their financial future.
The upside is that workers are more willing than ever to look for professional help to manage their finances and get advice on retirement planning and managing their investments. Employers play an integral role in helping their employees get the help they want and the help they need.
Finding: dramatic growth in general stress between pre- and post-pandemic times is mirrored by the growth in financial stress. Data suggests employers can have a direct impact on the financial wellness of their teams beyond salary.
All statistics, charts and data within this document were pulled from the 2020 financial stress survey.
The 2020 financial stress survey was commissioned by Manulife Investment Management and John Hancock Retirement and conducted by Greenwald & Associates. An online survey of 589 John Hancock Retirement plan participants and 1,026 Canadians was conducted in August 2020.
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