Payroll-Delivered Emergency Savings Accounts: A 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.
A New Solution
Researchers at Canada's Financial Wellness Lab, based at Western, have introduced a new idea that could hold the key to reversing 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 this solution.
For years, Canadians have been feeling the stress of falling further, and further behind financially.
This solution has the potential to transform financial fragility into financial resilience for millions of working Canadians.
Author's summary: Payroll-delivered emergency savings accounts can help Canadians overcome financial stress.