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The general perception has been that the pandemic would radically increase employees’ appreciation of benefits and possibly increase their need for certain benefits, but how benefits may evolve based on these changes remains unclear.

With the pandemic shaking the country for more than 12 months now, employee benefits experts are trying to gain insights into which actions employees will take as a result of COVID-19 and whether carriers will see a positive impact on participation rates. The general perception has been that the pandemic would radically increase employees’ appreciation of benefits and possibly increase their need for certain benefits, but how benefits may evolve based on these changes remains unclear.

Even before the COVID-19 pandemic, unpaid caregivers struggled with the demands of work and saving for the future. The pandemic brought on additional work/life disruptions with stay-at-home orders, school closures, and reduced ability to outsource caregiving. The challenges also affect workers’ future retirement security since retirement income is often dependent on one’s ability to work and, through that work, accumulate savings.

A new Secure Retirement Institute^® (SRI^®) study, Staying the Course: Navigating Unpaid Caregiving Obstacles to Retirement Security, explored the impact of caregiving on workers’ retirement savings, as well as the actions and employer benefits that may help caregivers plan for a secure retirement.