Sun Life and Personal Financial Affairs

personal financial affairs: As a result, Sun Life estimates that employees are turning their back on as much as $3 billion a year, according to The Toronto Star. While we often point the finger at young people as having limited interest and understanding of their personal financial affairs, Sun Life finds that not so. So why then, when many large companies give away money to match employee RRSP contributions, do so many ignore the free lunch Insurer Sun Life Financial concludes from an analysis of 5,000 plans it administers that the two biggest reasons are people find it too confusing to do the paperwork to join, or they’re have trouble making ends meet and need the money now. They know a good deal when they see one and like all smart consumers they’re snapping it up. On the other hand, 90 per cent of those in their 20s, presumably new employees, are opting in. Only 40 per cent of those in their 40s and 50s are taking advantage of matching Registered Retirement Savings Plan or pension money in plans Sun Life administers. (news.financializer.com). As reported in the news.