Service educates and arms individuals with tools to resolve their
TORONTO, Jan. 18, 2012 /CNW/ - At a time when people are slowly beginning to pay off their credit card bills from the
holidays, Morneau Shepell Ltd., under the Shepell•fgi Employee
Assistance Program (EAP), has introduced a new service to help
employees not only resolve their current credit crunch, but also
address their more complex financial concerns. The new Online Financial
Planning Service allows users to create financial action plans tailored
to their personal situation and regain control of their financial
According to a recent report released by Morneau Shepell in 2010, 63.2%
of the time that users accessed their EAP for financial assistance, it
was for personal debt and/or credit issues. This was followed by
divorce/finances at 8.7%, bankruptcy at 7.4%, retirement at 5.7% and
taxes at 4.6%. Significantly less were requests for investment planning
purposes, indicating that employees were too concerned with current
debt to plan for their future.
"What is needed," explains Kevin Sorhaitz, Partner, Pension Consulting,
Morneau Shepell, "is to combine debt counselling with investment
education, so that employees have a better understanding of how current
debt is connected to future retirement."
Available 24/7, the service provides users with unbiased educational
information and resources on credit/debt management, budgeting,
bankruptcy, the financial aspects of separation/divorce, financial
emergencies, retirement planning, employment transitions, and real
estate. Users can access interactive worksheets and tools online—such
as the personal debt consolidator tool or retirement savings
Designed as part of a holistic suite of services, Online Financial
Planning Service complements existing financial, legal, mental health
and work/life balance supports currently offered through the EAP.
"It's no surprise that debt causes great anxiety and stress for people.
It's important to not only treat the cause, but also the effects. Take,
for instance, someone who is recently divorced with children. We can
help them regain a solid financial standing while lessening the stress
of dealing with the divorce and new obligations like finding child
care," says Rita Fridella, Senior Vice-President, Operations and Chief
Clinician, Morneau Shepell. "This integrated approach means we can
guide employees to the professionals and full continuum of care that
Online Financial Planning Service is available to EAP members and their
families by calling the Care Access Centre or via Online Access at workhealthlife.com.
Morneau Shepell Ltd.
Morneau Shepell is the largest Canadian-based firm offering
industry-leading benefits and pension consulting, outsourcing, as well
as health and productivity solutions. The company works with clients to
develop end-to-end insights and solutions that integrate with their
business strategies to achieve results. Through Benefits and Health
Solutions Consulting, Pension Consulting, Health Management,
Administration Solutions and Shepell•fgi's Employee Assistance Program,
Morneau Shepell helps clients reduce costs, increase employee
productivity, and improve their competitive positions by supporting
their employees' financial security, health and well-being.
Established in 1966, Morneau Shepell serves over 8,000 clients, ranging
from small businesses to some of the largest corporations and
associations in North America. With approximately 2,500 employees in
offices across North America, we provide services to organizations
across Canada, in the United States and around the globe.
Morneau Shepell Inc. is a publicly traded company on the Toronto Stock
Exchange (TSX). For more information, visit www.morneaushepell.com.
SOURCE Morneau Shepell Ltd.
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