Financial Wellness Benefits Growing Among Canadian Employers

A growing number of Canadian employers are prioritizing financial wellness as part of their total rewards strategy, according to new research from Benefits Canada. The report finds that half of organizations now offer financial planning services, and 42% provide financial literacy resources, a notable increase from prior years.

Industry observers attribute this shift, in part, to the broader availability of financial-planning and wealth-management tools through Canadian carriers, which has helped plan sponsors feel more confident integrating these services into their benefits programs.

Key Findings from the Report

• 92% of employers view retirement savings and investment options as a top priority.
• 40% say financial well-being and retirement readiness have become more critical.
• Employers are increasingly adopting contribution models that blend base and matching contributions, rising from 16% in 2023 to 22% in 2025.

These models are seen as supporting member participation while reinforcing organizational commitment to employee savings outcomes.

Expanding Flexibility in Savings Options

Employers are also enhancing plan design flexibility to support diverse financial needs:

• 31% now offer group tax-free savings accounts (TFSAs).
• More organizations are pairing RRSPs and Deferred Profit-Sharing Plans (DPSP) with complementary savings tools.
• First Home Savings Accounts are emerging as an additional option under consideration.

Upcoming Regulatory Shift: CAPSA Guideline (2026)

Beginning January 1, 2026, a new guideline from the Canadian Association of Pension Supervisory Authorities will introduce enhanced expectations around:

• Transparency
• Risk management
• Participant protection

The guideline places greater emphasis on member communication and education, prompting many organizations to revisit their financial education strategies ahead of the new standards.

What This Means for Employers

The report suggests employers may benefit from:

• Assessing financial-planning and wellness offerings with advisors and carriers.
• Reviewing education strategies ahead of regulatory changes.
• Evaluating whether current plan designs align with member needs and organizational objectives.

As financial wellness continues to evolve as a strategic priority, more Canadian employers are examining how plan design, education, and accessible savings options can work together to support long-term employee financial security.