According to a recent study conducted by RBC Insurance, 66% of working Canadians who have access to employer benefit plans rate their overall well-being as good or excellent in comparison to Canadians without employer benefit plans. These individuals also report experiencing higher overall mental health (65%). The disparity among Canadians based on access to such plans is pronounced, with more than half of workers (54%) with access to such plans reporting their overall financial health as being good or excellent, compared to only a third of workers who did not have access. The study found that low-income households (<$40,000) are significantly less likely to have access to employer benefit plans than higher-income households (83%). Generationally, older millennials reported having the weakest financial health, with only 44% expressing optimism about their current situation.
For further information about the study, click here.