PR FEED

Montreal, November 11, 2024 – In today’s workplace, employee wellbeing has become an undeniable priority, with insurance providers playing an essential role. Organizations that partner with industry leaders in benefits administration and pension consulting, such as TELUS Health, unlock the full potential of “Financial Wellbeing” for optimal workforce management.

“We support the mental, physical, and financial health of organizations and individuals worldwide,” says Jean Bergeron, Associate in Asset and Risk Management at TELUS Health. Every day, Bergeron and his team of experts work with one goal in mind: to help employers and pension funds establish sound investment strategies that support effective asset and risk management, providing impartial, customized services in investment, governance, and compensation.

“TELUS Health goes beyond physical and mental health care,” adds Bergeron, an actuary by profession. “Financial security is a key component of overall employee health. To us, these three elements form a unified whole.”

A recent TELUS Health report on Financial Wellbeing, part of the TELUS Mental Health Index released on October 26, 2023, highlighted that one in four Canadian workers (25%) is worried about their ability to retire. A significant portion believes it’s the employer’s duty to offer retirement savings options.

TELUS Health: Strategic Support for Financial Wellbeing

Navigating the complexities of financial health requires a dedicated partner. “We collaborate with pension fund managers to identify the optimal structure and establish contribution guidelines,” says Bergeron. “Our network of Canadian portfolio managers provides quality advisory services, grounded in tailored, sustainable investment strategies. Program selection is based on various organizational needs—such as employee turnover or the demographics of a young workforce. Ultimately, we empower employers—from municipalities to small businesses and large corporations—to make informed decisions that enhance the financial wellbeing of their staff and retirees.”

Nearly one-third of Canadian workers cite financial planning as the most important part of a benefits package. TELUS Health offers a comprehensive suite of financial tools that empower employers to support their teams effectively. “We provide holistic, one-stop governance support that sets us apart from other providers,” Bergeron says. “Our goal is to foster peace of mind among employers and employees, improving morale, lowering stress, and reducing absenteeism.”

The Power of Data-Driven Insights

TELUS Health leverages advanced analytics and over 50 years of expertise in pensions and benefits, coupled with 15 years in health and wellbeing. This data-driven approach equips clients with tools like the Monthly Pension Indices, quarterly Performance Universe reports (covering nearly 300 pooled funds managed by 45 Canadian investment firms), Financial Wellbeing reports, and annual Salary Projection Surveys. These resources prepare managers to navigate unforeseen events and mitigate risks—building trust and resilience in TELUS Health.

For more information on enhancing employee financial wellbeing and strengthening organizational resilience, visit the TELUS Health website: www.telus.com/en/health/employers/consulting

Financial Wellbeing: Key Insights from the TELUS Health Report
As part of the TELUS Mental Health Index, the Financial Wellbeing report reveals:

• Nearly one-third (30%) of Canadian workers are concerned about having enough money to maintain their lifestyle, with 11% fearing financial shortfalls in retirement.
• Nearly half (47%) are unsure how much they need to save to sustain their standard of living in retirement, and 23% are entirely unaware.
• Three-quarters (74%) of workers believe it is important for employers to offer retirement savings options.
• Nearly one-third (30%) identify financial planning solutions as the most valuable aspect of their benefits package.

For more information on how you can help improve the financial wellbeing of your employees of your business, see the TELUS Health website: www.telus.com/en/health/employers/consulting