All Financial wellbeing articles – Page 115
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AnalysisHow to make pensions a building block in an employee's savings strategy
If you read nothing else, read this…A number of employees say they will increase pension contributions after the 2014 Budget reforms (Towers Watson).Employers could use pay rises and employees’ birthdays to drop hints about pension savings.Other savings tools, such as an Isa or a Sipp, can help boost pension contributions.Financial ...
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Article
Personalised financial education becoming more important
At the end of July, when the government announced that its guaranteed guidance would be provided by independent organisations rather than pension providers, it settled most of the questions that had been circling the industry since the initiative was introduced by Chancellor George Osborne in the March Budget.Before the announcement, ...
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OpinionMichelle Cracknell: Making pensions attractive
Better education, less volatile investments and planning tools with personalised forecasts can all help employees make pensions a building block in their savings strategy.I am passionate about pensions because they can change people’s lives. The idea of saving to have the money to do the things you want to do ...
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ArticleChancellor plans to abolish 55% pension 'death tax'
The Conservative Party and chancellor George Osborne will scrap the 55% tax rate to which pension savings are subject on the death of a scheme member and introduce a new rate of around 20% to allow employees to leave more money to their children.The change will be introduced in April ...
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Article3.4 million Britons rely on employers for retirement advice
Almost one in 10 people (the equivalent of 9% or 3.4 million individuals) will rely on their employers for advice on retirement planning. This figure is up on the 7% recorded in 2013 and 3% in 2010. This latest consumer research from Baring Asset Management (Barings), which surveyed 1,513 employees ...
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ArticleIMG launches personalised financial education
EXCLUSIVE: IMG has launched a financial education programme for its 1,500 UK employees.The global sports, media and fashion organisation introduced the programme during its inaugural Wellbeing Week at its Stockley Park campus at the end of July.The event also included the promotion of the organisation’s employee assistance programme and discounted ...
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Video
How to provide financial education so that staff maximise their options
brightcove.createExperiences();The 18-minute video tutorial above covers:What is financial education?What are the benefits of introducing financial education?How will the 2014 Budget changes affect financial education?What does it cost to provide financial education in the workplace?What is best practice in financial education?Why do ...
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Article62% do not think guidance guarantee will be enough
Nearly two-thirds (62%) of respondents do not think the guidance guarantee announced in the 2014 Budget will provide enough support for members of defined contribution (DC) pension schemes ahead of retirement, according to research by Mercer.Its research, which surveyed more than 300 employers and trustees, found that 38% plan to ...
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Article39% do not have financial plan for retirement
More than a third (39%) of respondents do not have a financial plan for retirement, according to research by Aegon UK.Its Retirement readiness survey, which questioned 16,000 employees in 15 different countries, found that 12% of respondents have a written financial plan for retirement.Less than a third (29%) of UK ...
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Case StudiesBlackRock focuses on staff financial wellbeing
This included group income protection, life assurance and accidental death cover, available to all staff as core benefits up to a certain level. Employees can choose to flex their life cover up to a higher level or to include their partner’s life through the flexible benefits scheme. Critical illness insurance ...
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AnalysisJonathan Watts-Lay: A new compulsion
The Budget changed the face of retirement options for members of defined contribution (DC) pension schemes, with perhaps the most radical pension proposals of our lifetime.The changes have far-reaching consequences for employers, employees and pension trustees alike and introduce a level of flexibility and choice in a way that DC ...
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ArticleDOD’s blog: New world order for working policies
For some months I have been using the term ‘age management’ to describe a new discipline creeping into human resources strategies.Now that staff can work for as long as they want to (or have to), HR professionals are taking stock of their workforce planning strategies, their wellbeing initiatives and how ...
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ArticleDAC Beachcroft launches financial education
DAC Beachcroft has launched a financial education programme for its 2,000 UK employees.The law firm introduced the programme to provide a more consistent and continual approach to promoting its benefits package, which includes a flexible benefits scheme with an annual enrolment window.Sarah Young, head of HR at DAC Beachcroft, said: ...
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Article
Live Nation awarded for financial education strategy
Live Nation Entertainment won the award for Best financial education strategy at the Employee Benefits Awards 2014.Read why the organisation was judged to be the best in this category.The Employee Benefits Awards 2014 were held on 27 June 2014 at the Artillery Garden at the HAC London.
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Article49% are satisfied with their benefits package
Nearly half (49%) of employee respondents are satisfied with their benefits packages, according to research by Thomsons Online Benefits.The role of benefits in retaining and protecting your best talent report, which surveyed more than 450 organisations representing more than 1.2 million employees, found that 29% of employee respondents felt they ...
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Article33% expect employers will fund workplace financial guidance
A third (33%) of respondents expect that employers will have to fund financial guidance for their entire workforce following the pension reforms announced in the Budget 2014, according to research by Jelf Employee Benefits.Its research, which surveyed more than 200 employers, found that just over a quarter (28%) of respondents ...
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ArticleOnly 26% of UK respondents confident about DC pension savings
Around a quarter (26%) of UK respondents feel confident that they will have enough saved through their employer’s defined contribution (DC) pension scheme to afford the lifestyle they want in retirement, according to research by State Street Global Investors (SSGA).Its research surveyed more than 2,000 respondents aged between 22 and ...
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ArticleBuyer's guide to financial education 2014
A well-designed financial education programme can help staff improve their financial literacy and understand how such changes might affect their own financial situation, as well as generally learn how to make their pay go further.Money worries have been a major cause of stress and anxiety for staff throughout the recession, ...
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ArticleEmployers must help manage employees' retirement expectations
For example, more than half (53%) of the respondents to Aon Hewitt’s Global benefits attitudes survey admitted they needed to save more for their retirement, while 90% of UK employees who responded to the Aegon UK Readiness report said they are falling short of their retirement targets.Meanwhile, more than a ...
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OpinionLynda Shaw: Employers should understand employees' responses to financial stress
If you read nothing else, read this…It is very easy for employees to get into debt.Debt can increase stress hormones, such as noradrenaline and cortisol, and adversely affect ’feelgood’ neurotransmitters.Employers should offer all staff access to financial education.Most employees think they are doing well if they are in the black, ...