CANADA - The vast majority of employer contributions to defined contribution (DC) funds will be the same or higher in 2009 than last year, the Quebec-based Order of Charted Human Resources Councillors (CRHA) has said.
CRHA president Florent Francoeur said: "Evidently, in a more difficult business cycle, employers could be tempted to cut back on certain benefits. However, this is not necessarily a good idea to keep workers motivated and productive. The results of this survey show us that Quebec employers seem to understand this fact."
The survey showed 69% of employers intended to keep contributions at the same level as 2008, while 15% said they would increase levels.
Only 6% intended to cut contributions, while a further 10% admitted they had not taken decisions over the level of contributions yet.
In terms of the wider economic crisis, some 45% of workers in the Quebec region said the downturn had affected REER savings or their pension fund in a serious manner, while over half (51%) said the crisis had had little or no impact.
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