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Experts share best saving, investment strategies

Posted by on Nov 25, 2015 in Investments, Money management, Tangerine | 0 comments

Thursday, November 19th, 2015  |  Sheryl Smolkin  |  What’s keeping Canadians awake at night? According to an Ipsos* Reid poll conducted for Global News released earlier this year, 40% of respondents report being “stressed” about saving for retirement, and 37% cite saving for big-ticket items, like a car or a down payment, as a source of anxiety. To help relieve this anxiety, we asked personal finance experts Preet Banerjee, Rob Carrick and Joe Snyder to share strategies Canadians can use to meet...

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Small employers walk the mental health talk

Posted by on Nov 25, 2015 in Employee Benefit News, Health, HR Issues | 0 comments

Award-winning smaller employers offer employees typical benefits that support workplace mental health like robust health insurance coverage and employee assistance programs. But they also create a culture of mental wellness with a suite of day-to-day programs that encourage work-life balance, employee involvement and employee growth and development opportunities. David Ballard is the director of the American Psychological Association’s Center for Organizational Excellence, which has sponsored the...

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Strictly observed overtime policy best employer offensive

Posted by on Nov 25, 2015 in EBN, HR Issues, Legal | 0 comments

Proposed U.S. Department of Labor rules that will broaden federal overtime protection for employees and an imminent ruling in an overtime pay class-action suit against the Chicago police force are making many organizations nervous about increased liability for unpaid overtime. But employment lawyers say a strictly observed overtime policy is the best offensive to head off concerns. Currently the federal Fair Labor Standards Act requires that most employees be paid overtime at one and a half times the...

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Supreme Court rulings to watch for in 2016

Posted by on Nov 25, 2015 in EBN, Legal | 0 comments

The benefits industry is awaiting several rulings from the Supreme Court of the United States expected in 2016 that could have far-reaching effects on the administration and cost of operating employee benefit plans. Reimbursement of payments Yesterday SCOTUS heard arguments in the case of  Montanile vs. Board of Trustees of the National Elevator Industry Health Plan. The issue before the Court is whether a member of a benefit plan governed by the Employee Retirement and Income Security Act can get out of an...

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How I taught my kids about money

Posted by on Nov 11, 2015 in Consumer savings, Money management, Tangerine | 0 comments

Friday, October 30th, 2015  |  Sheryl Smolkin When our children were younger, we gave them an allowance. But it often seemed like it was more trouble than it was worth. Frequently, we didn’t have cash on us when allowances were due and as a result, we ended up “owing” them several weeks’ back pay. It also wasn’t clear what expenses allowances were expected to cover, and it was tempting to withhold money if the kids didn’t help around the house. So when our daughter Ariel was 14 and our son...

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How to find money you may have forgotten about

Posted by on Nov 11, 2015 in Consumer savings, Money management, Tangerine | 0 comments

Wednesday, October 14th, 2015  |  Sheryl Smolkin If you think you’ve left behind an unclaimed windfall in a Canadian financial institution, there may be an easy way to find out. After 10 years of owner inactivity, federally-regulated banks and trust companies must turn over unclaimed balances in Canadian dollar accounts, deposits or negotiable instruments, to the Bank of Canada. You can search the Bank of Canada’s Unclaimed Balances Registry and learn how to make a claim here. The details and time...

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How to give your RRSP contributions a raise

Posted by on Nov 11, 2015 in Retirement, Tangerine | 0 comments

Friday, October 2nd, 2015  |  Sheryl Smolkin To meet your retirement savings goals, you may need to increase your annual RRSP contributions on a regular basis. And giving yourself even a small RRSP (called RSP at Tangerine) contribution “raise” each year can make a huge difference in the total amount you accumulate in your account. “Increasing contributions regularly is important because your income goes up over time,” says Rona Birenbaum, a financial planner with Caring for Clients. “So if...

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Unlimited vacation: The pros and cons

Posted by on Nov 11, 2015 in Employee Benefit News, HR Issues, Quality of Life | 0 comments

By Sheryl Smolkin EBN October 23, 2015 LinkedIn is the latest in a series of companies to announce “discretionary time off” (DTO, aka unlimited vacation) for approximately 6,000 U.S. employees. But experts caution only organizations with an entrepreneurial corporate culture and excellent communication practices can successfully implement a DTO program. “For a culture that is really more oriented to accountability, it makes sense to offer paid time-off on an as-needed basis instead of accruing a...

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Saskatchewan residents need to save more for retirement

Posted by on Nov 5, 2015 in Retirement, Saskatchewan Pension Plan | 0 comments

5 November 2015 By Sheryl Smolkin A National payroll survey conducted in September 2015 by the Canadian Payroll Association finds three-quarters of working Canadians have saved just 25% or less of their retirement goal, and many expect to work longer. In Saskatchewan, many employees are living pay cheque to pay cheque, most are not saving enough and economic pessimism is high. The study reveals that the vast majority of employees are nowhere near reaching their retirement savings goals, and more than...

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Nov 2: Best from the Blogosphere

Posted by on Nov 5, 2015 in Industry News, Money management, Retirement, Saskatchewan Pension Plan | 0 comments

2 November 2015 By Sheryl Smolkin Canadians have spoken. Canada has a new Prime Minister and a new first family. While the moving trucks have not been booked yet, Justin, Sophie, Ella-Grace, Xavier and Hadrien will be the second generation of Trudeaus to live at 24 Sussex Drive. Since the election, the financial press has gone into overdrive analyzing what the new government will mean for your bottom line and urging the new government to either act quickly or step back from key election promises. Here are...

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