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.
A new idea introduced by researchers at Canada’s Financial Wellness Lab could hold the key to reversing this trend.
Building Financial Resilience
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 how emergency savings accounts can achieve this goal.
“For years, Canadians have been feeling the stress of falling further, and further behind financially.”
This solution has the potential to transform the financial lives of millions of working Canadians.
Author's summary: Payroll-delivered emergency savings accounts can reduce financial stress.