Payroll-Delivered Emergency Savings Accounts Solution to Financial Stress
A new study reveals that emergency savings accounts, delivered through payroll, can transform financial fragility into financial resilience for millions of working Canadians.
Financial stress is costing Canadian employers nearly $70 billion in lost productivity each year.
New Research Findings
Researchers at Canada’s Financial Wellness Lab, based at Western, introduced a new idea that could reverse this trend.
The Building Financial Resilience Through Employer-Sponsored Emergency Savings Whitepaper, authored by Canada’s Financial Wellness Lab in partnership with the National Payroll Institute and CI Wealth, lays out a roadmap for implementing emergency savings accounts through payroll.
“For years, Canadians have been feeling the stress of falling further, and further behind financially.”
This solution aims to transform financial fragility into financial resilience for millions of working Canadians.
Author's summary: Payroll-delivered emergency savings accounts can reduce financial stress.
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