Sun Life's new poll lays bare how far employer savings coverage falls short
A new Harris Poll Canada survey, commissioned by Sun Life, found 76 percent want their employer to help them build financial security — yet only 41 percent say they currently receive any workplace savings support, and just 15 percent actively save through an employer plan.
The gap has a workplace cost.
According to the poll, 27 percent of respondents report lower engagement or productivity due to financial stress, and 33 percent say it affects their concentration.
Only half of working Canadians said they feel financially confident, and 75 percent said they want to save more but cannot.
The numbers point to retention consequences as well.
The poll found 87 percent of respondents believe employers who help workers save earn greater loyalty, and 83 percent said they would feel more secure at a company that offers a savings or retirement plan.
Sun Life launched two products in response to that gap on May 11: Sun Life Essentials and Sun Life Essentials Plus, both designed for small and medium-sized enterprises.
The plans carry no setup fees, require no minimum employee participation or contributions, and can be operational within a week.
Employees save through RRSPs and TFSAs via the my Sun Life mobile app, with default investments running through Sun Life Global Investments' Granite target-date funds, which adjust risk exposure over time.
Ted Singeris, Sun Life's vice-president of group retirement services and head of western Canada, said the products address an affordability barrier for smaller employers, offering “a simple, affordable workplace savings plan that cuts out complexity and can be set up in as little as a week.”
The survey of 1,705 working Canadians was conducted between April 20 and May 1, 2026, and carries a margin of error of ±2.4 percent, 19 times out of 20.
