Wiegers Financial & Benefits

In a Nutshell: Blog Highlights

Tariffs and economic uncertainty aren't just affecting Saskatchewan businesses. They're also creating concerns for employees trying to stay on track with their retirement savings. This blog explores how employers can help their teams navigate market volatility, make the most of their workplace retirement plans and stay focused on their long-term financial goals.

Why market uncertainty shouldn't drive retirement decisions, and how employers can help employees keep short-term fluctuations in perspective.
How to protect the value of your group retirement plan while managing business costs, including reviewing contributions, investment options, fees and employee participation.
Why financial education matters more than ever, particularly when employees are balancing rising living expenses with saving for retirement.

While tariffs and market conditions may be beyond your control, helping employees feel informed, supported and confident about their financial future is something you can influence.

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The Deeper Dive

With tariffs and changing trade relationships creating uncertainty for Saskatchewan businesses, employers have a lot on their minds. Rising costs, supply chain challenges and unpredictable markets are making it harder to plan ahead.

But it's not just businesses feeling the pressure. Market fluctuations can leave employees uneasy about their retirement savings, while rising living expenses may make saving for the future more difficult.

For employers, the challenge is finding ways to support employees' long-term financial wellbeing while keeping their group retirement programs sustainable.

The good news? A few thoughtful steps can make a meaningful difference.

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1. Help Employees Keep the Bigger Picture in Mind

When markets fluctuate, it's understandable that employees might feel nervous about their retirement savings. Some may even consider changing their investments or stopping contributions altogether. But retirement saving is a long-term commitment, and reacting to short-term market movements isn't always the best approach.

Employers can help by providing access to financial education and guidance that puts market volatility into perspective. Encourage employees to consider their retirement timeline, risk tolerance and long-term goals before making significant changes.

For those approaching retirement, a conversation with an advisor can be especially valuable. Sometimes, simply having someone available to answer questions makes all the difference.

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2. Protect the Value of Your Group Retirement Plan

When business costs rise, it's natural to review expenses, including employer contributions to a group retirement plan. But before making changes, consider what your plan means to employees. Beyond helping them save for retirement, it's an important part of their compensation and can play a meaningful role in attracting and retaining talent.

This may be a good time to review your program:

Are employees participating and making the most of employer contributions?
Does your plan remain competitive?
Are there opportunities to improve how it's managed?

A thoughtful review can help balance cost management with supporting employees' financial wellbeing. Any proposed changes should also be considered against your plan's terms and applicable requirements.

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3. Make Sure Employees Aren't Leaving Money on the Table

When everyday expenses rise, retirement contributions can be one of the first things employees consider reducing. But if your plan includes employer matching contributions, cutting back could mean missing out on valuable money from their employer.

Do your employees understand how the matching program works? Do they know how much you're contributing toward their retirement and what they could be giving up by reducing their own contributions? A little education can go a long way in helping employees appreciate the value of their plan and make informed decisions, even when money is tight.

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4. Review Your Plan's Investments and Fees

Market uncertainty is a good reminder that group retirement plans shouldn't simply be set up and left alone. Regular reviews help ensure your program continues to meet the needs of your employees and your organization. Consider whether your plan offers appropriate investment options, competitive fees and access to the guidance employees need. It's also worth reviewing investment performance against suitable benchmarks.

The goal isn't to predict what markets will do next. It's to maintain a well-structured retirement program that supports employees through changing economic conditions.

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5. Give Employees Confidence with the Support of an Advisor

Economic uncertainty can affect more than retirement accounts. Employees may also be worried about rising expenses, debt, job security or whether they're saving enough for the future.

The good news for employers is that you don't have to navigate these conversations alone. When you work with a dedicated Group Retirement Services consultant, your employees can benefit from professional guidance, financial education and retirement planning resources without placing additional demands on your internal team.

At Wiegers Financial & Benefits, we are actively committed to helping employees understand their retirement plans, make the most of employer contributions and make informed decisions about their financial futures.

Having a knowledgeable advisor to turn to can make a meaningful difference in helping employees feel supported and confident, especially during uncertain times.

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Keeping Your Retirement Strategy on Track

No one knows exactly how tariffs, trade relationships or financial markets will evolve. But uncertainty doesn't mean retirement goals need to be put on hold.

For employers, it's about maintaining a retirement program that's both sustainable and valuable. For employees, it's about having the information and support to make confident decisions about their financial futures.

At Wiegers Financial & Benefits, our Group Retirement Services team works closely with Saskatchewan employers to build and maintain retirement programs that support their business goals and their people. We also help employees understand their plans and make informed decisions about their retirement savings.

Tariffs and market conditions may be beyond your control, but helping your employees stay on track for retirement doesn't have to be.

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Let's Keep Your Retirement Strategy Moving Forward

Whether you're looking to manage costs, strengthen your group retirement program or help employees feel more confident about their financial futures, we're here to help. Connect with us to explore how we can help keep your retirement program, and your employees, on track.

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