All Financial wellbeing articles – Page 119
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ArticleMoog Controls boosts pensions engagement
Moog Controls has boosted pensions engagement by more than 150% through its bespoke financial education workshops.The manufacturer of precision motion controls organisation, which helped design the Wimbledon electric roof, focused its education on helping employees make more informed investment decisions.It ran four interactive pilot workshops, provided by Jelf Employee Benefits, ...
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Article
HSBC increases financial education provision
HSBC is increasing the financial education available to its 45,000 UK employees ahead of changes to its pensions schemes due to come into effect in July. The banking firm’s programme, KnowYou, which launched in 2013, aims to educate employees about its operational changes.Its strategy is to focus on education and ...
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AnalysisHow to manage employee-benefits-related risk
If you read nothing else, read this…Employee benefits, such as preventative healthcare programmes, can help to mitigate organisational risks such as sickness absence and workplace stress. But benefits can bring their own risks to an organisation around cost, health and safety and regulation.Employers must be aware of all the risks ...
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Article51% not confident Pension Wise will deliver support
More than half (51%) of employer respondents are not confident that the government’s guidance guarantee Pension Wise service will provide their employees with adequate support around decisions at retirement, according to research by Hymans Robertson.The pensions and risk consultancy’s research, which questioned 100 HR directors in organisations with more than ...
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Article60% of employees suffer from financial stress
Just under two-thirds (60%) of US workers are significantly burdened by financial stress, according to research by asset management firm State Street Global Advisors.Its biannual Employee retirement survey, which surveyed 1,000 employees aged between 20 and 69, also found that the key triggers of stress were mortgages, student loans, healthcare ...
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ArticleFCA acts to support choice in retirement
The Financial Conduct Authority (FCA) is to introduce remedies designed to support choice in the retirement market in light of the forthcoming pension reforms.Its final Retirement income market study proposes five remedies for employees with defined contribution (DC) pension pots to help make competition work for those looking at drawdown ...
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ArticleGE rolls out new retirement communications strategy
GE is in the throes rolling out a new retirement communications strategy to help communicate the new pension freedoms available to staff from 6 April. It is part of a flexible retirement policy that the organisation, which specialises in energy, healthcare, aviation and transport services, implemented last year. Michelle Newton, ...
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Article
Financial disengagement could limit success of pension reforms
Financial disengagement among people approaching retirement could threaten the success of the government’s pension reforms, according to research by the Strategic Society Centre.Its Defined capability: pensions, financial capability and decision-making among retirees research found that among respondents aged 55 to 64, only one in three with defined contribution (DC) pension ...
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Case StudiesAnglian Water evolves financial wellbeing strategy to support employees
The utilities organisation has integrated financial wellbeing into its approach to employees’ health and wellbeing since 2007.Sally Purbrick, head of reward at Anglian Water, says: “We have seen a correlation and it all integrates into the area of health and wellbeing. It is not done in isolation. All the areas ...
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AnalysisHow to create an integrated financial wellbeing strategy
If you read nothing else read this…46% of employees worry about their finances.An effective financial wellbeing strategy needs to understand the needs of employees.Workplace savings and education can encourage saving and boost wellbeing.An integrated strategy must link to business needs. Barclays Corporate and Employer Solutions’ (C&ES’s) Financial wellbeing: the last ...
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ArticleDebbie Lovewell-Tuck: Employers primed for financial wellbeing
This question came to the fore again last month when the government rolled out a new interest-free loan scheme across the UK.The scheme, which was previously piloted in London, works in the same way as a season ticket loan, enabling employees to take out a loan for a house rental ...
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Case StudiesScapa Group questions employees’ financial nous
She was particularly keen to understand the level of financial awareness among employees at the global bonding product and adhesive components manufacturer.“[I wanted to know] how much they really knew about pensions and how much of that is in the context of a wider financial savviness,” she says.Patten found that ...
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Article68% of over-50s would retrain to work longer in retirement
More than two-thirds (68%) of over-50s would consider retraining to work longer in retirement, according to research by MetLife. Its research, which surveyed more than 2,500 employees, found that financial pressures and a lack of sufficient retirement savings are the drivers behind employees working longer.Just over half (55%) of respondents ...
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Article
96% believe pension flexibilities create need for financial education
Some 96% of employers think that the new pension flexibilities creates a need for more financial education in the workplace, according to research by Jelf Employee Benefits. Its research among 250 employers also found that nearly three quarters (73%) believe workplace financial education should be employer funded.Of this 73%, more ...
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ArticleFinancial education boosts staff engagement
How financial education can boost employee engagement and employers’return on investment (ROI) will be the focus of a session at Employee Benefits Connect 2015.In a session titled ‘Boost employee engagement and ROI using financial education’, Darren Laverty (pictured), director at financial education provider Secondsight, will discuss why and how workplace ...
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Video
Easy steps to pensions flexibility
brightcove.createExperiences();This three-minute video tutorial above covers:What are the new options for employees around pensions?What are the key issues that employers need to consider?What are employers doing with their existing scheme rules?What can employers do to help staff identify what changes are ...
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ArticlePension Wise website goes live
The online version of the government-backed guidance guarantee service, Pension Wise, has gone live.The Treasury-designed website, pensionwise.gov.uk, showcases six steps users should take in deciding how to use the new pension flexibilities, as well as get the best possible outcome in retirement from their pension pot.The six steps are:Checking the ...
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Case StudiesBecton Dickinson personalises financial education for staff
As part of the programme introduced in November 2014, the firm uses Nudge’s Global Quantum technology, which uses HR and benefits data to profile employees and pre-empt their individual financial needs.Employees are then sent a number of messages about how to save money or set and track financial targets. These ...
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ArticleFinancial Education report 2015
View all stories from the report below:Jonathan Watts-Lay: Three steps to freedomNew flexibilities in pension access increases the need for workplace financial education.Financial education in numbersA round-up of the latest facts and figures about financial education.Andrea Finney: Helping to ease the burdenThere are a number of steps employers can take ...
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Article21% say their employer has contacted them about the pension freedoms
Less than a quarter (21%) of UK employees stated that their employer has contacted them regarding the new pension laws coming into force in April 2015, according to research from employee benefits consultancy Portus Consulting.The study, conducted online by Consumer Intelligence, surveyed 1,154 staff over 18 in December 2014, also ...