All Financial wellbeing articles – Page 109
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Article46% would like their employer to provide financial education
Just under half (46%) of respondents would like their employer to offer financial education support, according to research by Equiniti.Its survey of 6,700 savers and investors from Equiniti’s client base, also found that 49% of respondents feel that their employer does not do enough to support informed financial decisions on ...
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Article49% find pensions terminology too confusing
Just under half (49%) of respondents find pensions terminology to be complicated and confusing, acting as a barrier to effective retirement planning, according to research by Capita Employee Benefits.Its Employee insight report 2016/17, which surveyed 3,006 UK employees, also found that 51% of respondents do not know how much they ...
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Supplier article
Breaking the ‘inflation promise’ will lead to a greater need for financial education, guidance and advice
Jonathan Watts-Lay, director at WEALTH at work, said: “The latest risk to an employee’s future retirement income plans has surfaced in the form of a debate about ‘conditional indexation’.“With defined benefit (DB) schemes falling deeper into deficit, the search for how to save these schemes has hit upon the idea ...
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ArticleNationwide Building Society introduces retirement planning tool for staff
Nationwide Building Society has launched an online retirement planning tool for the 12,000 employees in its defined contribution (DC) pension scheme.The organisation has introduced the Guided Outcomes tool, provided by Hymans Robertson, to help educate DC pension scheme members about how much money they might need in retirement and what ...
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Supplier article
Adult numeracy and financial education in the workplace
We have written much on the topic of financial education in the workplace during the past six years – and indeed have added to this catalogue in recent weeks as well. So we were not expecting to write much more on this subject for a little while. That is until ...
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ArticleAdmiral introduces home-moving salary advance to support financial wellbeing
Employee Benefits Live 2016: Admiral has introduced a home-moving salary advance scheme for employees.The scheme, which has been running for six weeks, enables staff to borrow a set amount of money and repay it over an 18-24 month period. It is designed to help employees with moving costs, and steer ...
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ArticleGovernment to develop single body for pensions and debt guidance
The government is to develop a single, public financial guidance body to provide individuals with easy access to pensions and money guidance, and debt advice.The new body will replace Pension Wise, The Pensions Advisory Service (TPAS), and the Money Advice Service.Plans laid out in the March 2016 Budget originally set ...
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ArticleEXCLUSIVE: University of Sheffield to discuss financial wellbeing at Employee Benefits Live
The University of Sheffield will discuss financial wellbeing in the workplace at Employee Benefits Live 2016.Andrew Dodman (pictured), chief HR and corporate officer at the University of Sheffield, will present the session titled Understanding the DNA of financial wellbeing and its impact on the UK workforce, alongside Heidi Allan, head ...
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Article21% are concerned about the performance of their workplace pension scheme
More than a fifth (21%) of respondents are concerned about how their workplace pension scheme has performed over the past two years, according to research by employee benefits organisation Portus Consulting.Its survey of 1,043 UK employees also found that 27% of respondents would welcome guidance on retirement planning from their ...
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Supplier article
Retirement conversations: Yes, no or maybe?
The past few years have seen a significant alteration in the UK retirement landscape. There are many factors behind this change, but the two biggest influences are probably:The abolition of the Default Retirement Age (DRA)The introduction of Pension 'Freedoms'The first of the above changes effectively gave older employees much more ...
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ArticleCurrent government consultations could impact employee benefits strategies
A round-up of current government consultations with a bearing on employee benefits:Tax-efficient benefitsHM Revenue and Customs has launched a consultation to examine the potential impact on employers and employees should the government change the way the benefits code applies when a benefit in kind (BIK) is provided in conjunction with ...
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Article65% expect their employer to provide guidance on benefits
Almost two-thirds (65%) of respondents expect their employer to provide guidance on the employee benefits available to them and how appropriate each benefit is for them and their family, according to research by Capita Employee Benefits.Its Employee insight report 2016-17, which surveyed 3,006 UK employees, also found that 69% of ...
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ArticleLaw firm BLM to introduce online retirement planning tool for staff
Law firm BLM is to introduce an online retirement planning tool for its 1,700 employees.The tool, provided by Portus, enables staff to calculate their retirement income and see how this could change in different scenarios, helping employees to plan for their retirement.The launch follows a review of BLM’s benefits package ...
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ArticleEXCLUSIVE: Ben Group launches pensions engagement platform for staff
EXCLUSIVE: TV and film advertising organisation Brand of Entertainment Network Group (Ben Group) has launched a new pensions engagement platform for staff.The online investment strategy platform, provided by Wealth Wizards and launched in September 2016, gives Ben Group's 32 employees access to online tools to enable them to better plan ...
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Supplier article
Pension freedoms drive financial education
Financial education in the workplace is increasingly becoming a part of the employee benefits landscape in the UK. There have been many drivers behind the rise and rise of this benefit option, but perhaps the pivotal moment came with the announcement of pension freedoms in 2014.Fundamentally, pension freedoms was a ...
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ArticleSackers launches personalised financial education programme for staff
Pensions law firm Sackers has launched a new financial education programme for its 100 employees, including partners and support staff.Sackers introduced the programme, provided by Nudge, with the aim of ensuring that its staff have access to targeted financial education support that meets their needs, and to provide them with ...
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ArticleGovernment consults on definition of financial advice
HM Treasury has launched a consultation to discuss amending the UK definition of financial advice.The purpose of amending this definition is to create a clear, single outline that organisations can easily follow and build into compliance arrangements, and to remove uncertainty around the boundary between what constitutes regulated advice and ...
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ArticleOld Mutual launches financial education programme for staff
International investments and savings organisation Old Mutual has launched a personalised financial education programme for its 200 employees.The programme, provided by Nudge, aims to further strengthen the organisation's current wellbeing strategy.The scheme uses a regular flow of data to provide employees with personalised and predictive financial education that corresponds to ...
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ArticleEXCLUSIVE: Hachette UK introduces financial education workshops for under 30s
EXCLUSIVE: Publishing group Hachette UK has introduced targeted financial education workshops to address the financial issues of most concern to employees under 30.The organisation ran a pilot project in July 2016, provided by Jelf Employee Benefits, which surveyed participants before and after a financial education workshop. Almost three-quarters (71%) of ...
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Article34% feel there is too much choice when saving for retirement
Just over two thirds (34%) of respondents believe there is too much choice when it comes to saving for retirement, according to research by Willis Towers Watson and Nottingham University Business School.The study, which surveyed 2,000 UK employees, also found that 35% of respondents feel that a lack of knowledge ...