Bruce Dumouchelle

Nov 19: Best from the blogosphere – Value of offering a pension plan

November 19, 2018

A look at the best of the Internet, from an SPP point of view

Employers need to help their employees save, says Ontario car dealership
An Ontario car dealership believes they, as an employer, need to play an active role in helping employees prepare for their golden years.

Bruce Dumouchelle is co-president of St. Thomas Ford-Lincoln in St. Thomas, Ont. Speaking to Automotive News Canada he notes that in the old days, retiring long-service employees got “a handshake and a set of golf clubs.”

“I just never felt that was enough,” he tells the magazine. “I felt, as an employer, we have to help employees save for retirement.”

To that end, the magazine notes, the dealership joined the Canadian Ford Dealers’ Pension Plan. Employees now make pension contributions that are matched by the employer, the magazine reports.

Having a pension plan is a great way to attract employees, the article notes.

“Employees feel they have a say over their future. I think the difference between working here and working somewhere else is that when retirement day comes, they’re going to have some money set aside,” Dumouchelle states in the article.

Eight habits are killing your retirement dreams
According to the Boomer & Echo blog, eight bad habits are impacting the retirement savings of Canadians.

First, the article notes, we don’t watch our spending. Second, we “want the newest everything.” Third is our collective need to upgrade, followed by item four, “treating credit card debt as a fact of life and not a hair-on-fire emergency.”

The fifth item is taking on “low-interest debt” to finance assets that depreciate – “weddings, vacations, furniture and vehicles.” Rounding out the list are complacency, putting off retirement savings until “a later that never comes,” and not investing long-term savings, but keeping it all in cash.

“The good news is that it’s never too late to take control of your finances and start saving for retirement. Start by fixing bad habits that have a negative effect on your finances,” the article concludes.

It’s easy to get started on your retirement savings with the Saskatchewan Pension Plan. Visit their site today and see how easy it is to begin putting away today’s dollars for tomorrow’s adventures.

Written by Martin Biefer
Martin Biefer is Senior Pension Writer at Avery & Kerr Communications in Nepean, Ontario. After a 35-year career as a reporter, editor and pension communicator, Martin is enjoying life as a freelance writer. He’s a mediocre golfer, hopeful darts player and beginner line dancer who enjoys classic rock and sports, especially football. He and his wife Laura live with their Sheltie, Duncan, and their cat, Toobins. You can follow him on Twitter – his handle is @AveryKerr22