Law firm Trowers and Hamlins is introducing a series of financial education workshops called ‘Making the most of your money’ as part of a three-tiered approach to ensure its 500 employees are looking after their finances.
The first step was a series of presentations in October by Friends Life around the firm’s group personal pension (GPP) plan. The GPP has an 85% take-up and is also a qualifying scheme for the 2012 pension reforms.
The firm held the presentations to educate employees about the reforms, including its auto-enrolment staging date of January 2014.
In 2012, Friends Life will partner with the Money Advice Service to deliver online financial health checks to all staff.
Sue Brooks, compensation and benefits manager at Trowers and Hamlin, said: “Staff will answer questions about their financial health and find out what they need to do to improve their financial awareness.”
The third step will be financial education workshops, also held by Friends Life and the Money Advice Service, in January and February, covering the key topics that emerge from the financial health checks. These will cover topics such as insurance, mortgages, retirement and credit cards.
Friends Life is also setting up an in-house financial education library at the law firm’s offices, with booklets on each of these topics.
Brooks said: “We are concerned about employee wellbeing as a whole, and part of that is finance. It is quite an important part of our employees’ lives, to make sure their finances are in place.”
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