Sun Life Essentials™ brings workplace savings plans to Canadian small and medium-sized employers
- Nearly eight in ten working Canadians (76%) want employers to play an active role in building their financial security
- Less than half are currently receiving workplace savings support at work (41%)
- Working Canadians list financial stability as the most important aspect of employment
TORONTO, May 11, 2026 /CNW/ - Sun Life today announced Sun Life Essentials™ and Sun Life Essentials Plus™, new digital-first workplace savings solutions designed specifically for small and medium‑sized enterprises (SMEs). The plans are built to be simple and accessible, helping business owners better support their employees in building long‑term financial stability and confidence.
Amid rising uncertainty and cost pressures, building a stable and loyal workforce is a priority for businesses of all sizes. Workplace savings plans can be a practical way for employers to invest in their people without adding complexity. Recent research conducted by The Harris Poll for Sun Life, underscores why this support matters right now. More than a quarter of working Canadians say financial stress is impacting productivity and engagement at work. And 87 per cent believe employers that help workers save earn greater loyalty.
"Small business owners are the backbone of our economy, and we know how much they're carrying right now. From rising costs to economic uncertainty and the ongoing challenge of attracting and keeping talent," said Ted Singeris, Vice-President, Client Relationships and Business Development, Group Retirement Services and Head of Western Canada, Sun Life. "Sun Life Essentials can take some of the weight off their shoulders. It makes it easier to support employees' financial wellbeing with a simple, affordable workplace savings plan that cuts out complexity and can be set up in as little as a week."
Tailored, accessible workplace savings
Sun Life Essentials and Sun Life Essentials Plus are quick to implement, easy to administer, and help employees maximize investment growth. There are no set-up fees and no minimums for employee participation or contributions. Employees can begin saving right away through registered options such as RRSPs and TFSAs, supported by Sun Life's integrated digital experience, including the my Sun Life mobile app. Employees will also benefit from Sun Life's deep expertise, guided financial support and seamless experience with access to advice and innovative digital tools that boost confidence and can help generate better savings outcomes.
The experience is underpinned by Sun Life Global Investments' Granite target date funds, which are designed to take the guesswork out of investing by adjusting risk over time. It's the kind of default investment approach often seen in larger plans, now available to small businesses in a way that fits their budget and governance needs.
Sun Life's market leadership in group retirement services and asset management gives small businesses access to a credible, modern plan designed to support long-term financial security for their employees.
Other insights from the research include:
- Only half of working Canadians say they feel financially confident amid rising living costs and economic uncertainty.
- Over three quarters want to save more but feel unable to do so.
- Over 80 per cent believe workplace savings and financial guidance should be standard benefits.
- Over three quarters (83 per cent) say small businesses should have access to the same quality savings solutions as large companies.
Interested in learning more? Register for our Market Insights and Solutions for small businesses webinar on May 21 here.
About Sun Life
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2026, Sun Life had total assets under management of $1.58 trillion. For more information, please visit sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars
About The Harris Poll and Methodology
The Harris Poll Canada is part of a full-service, global market research and consulting firm. We provide Canadian companies with accurate and trusted information to make key organizational decisions, avoid risk, and maximize growth. We are differentiated by decades of expertise in brand and reputation management, leadership from senior practitioners with over 20 years of experience, and our ability to activate results for meaningful impact.
This survey was undertaken by The Harris Poll Canada. It ran on April 20, 2026 through May 1, 2026 with 1,705 responses among randomly selected Canadian adults who are currently employed or looking for work and are online panelists.
The results have been weighted by age, gender, region, and education (and in Quebec, language) to match the population, according to Census data. This is to ensure the sample is representative of the entire adult population of Canada.
For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±2.4%, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding.
To contact Sun Life media relations, please email Media.Relations@sunlife.com
SOURCE Sun Life Financial Inc.
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