All Financial wellbeing articles – Page 120
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Article
Focus on retirement education for staff
The vast majority (91%) of respondents to the Money Advice Service’s (MAS) The financial capability of the UK report, published in August, believe it is best for individuals to start saving into a pension in their 20s. However, only 28% of respondents currently do so.Close Brothers’ inaugural Trends in wealth ...
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AnalysisHow to measure the impact of financial education programmes
If you read nothing else, read this:Ongoing development modules can help employers track the effectiveness of a financial education programme.Financial education can help to combat staff absenteeism and boost productivity.An employer must support a financial education programme to ensure its success.In its Rethink Retirement survey, published in December 2012, financial ...
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Opinion
Pádraig Floyd: The impact of financial education
After all, most people are interested in money. We all need it to survive, we like a little extra for creature comforts, and some of us are positively motivated by it. Yet no one teaches us how to go about acquiring it, and especially holding on to it.The trouble is, ...
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Article
DebbieLovewell: Early pension saving is vital
This was closely followed, fairly sensibly I thought, with saving for a property deposit. Pensions and the need to save for retirement didn’t even cross my mind.Maybe if I’d been faced with some of the cold, hard figures spelling out what a difference beginning to save early could make, it ...
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Case Studies
Novae Group boosts staff engagement
In 2011, the organisation changed from a trust-based pension to a group personal pension and arranged for all members of the scheme to have one-to-one financial education meetings.John Renz, director of HR, says: “First of all, we wanted to explain the nature of those changes, but also essentially to put ...
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Opinion
Stephen Bevan: Under-pressure staff need employers’ support
With real wages almost stagnant during the downturn and with inflation, job loss and job insecurity eating into disposable income and financial stability, the time to step up employer support for financially strapped employees is long overdue.We see in our research the serious effects of money worries on employee attendance, ...
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AnalysisWorkplace savings report – September 2013
It includes the following articles:Padraig Floyd: The impact of financial educationHow to measure the impact of financial education programmesQuirky schemes to help employees saveFinmeccanica offers staff award-winning pension investment choicesHow popular are pension scheme guarantees?Read more articles around workplace savings
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Article
One in seven do not plan to retire
One in seven (14%) respondents do not plan to retire, according to research by Baring Asset Management. This is 12% up on the proportion of respondents that said the same in 2012 and the 10% in 2011, according to Barings’ annual research, which surveyed 1,581 non-retired UK adults. The research ...
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Article
DOD’s blog: let’s stop pensions mis-selling now
The PPI misselling headlines that hit the headlines again this week has got me thinking about workplace pensions.Let’s rewind back to the days when we were being pushed to buy payment protection insurance (PPI) at every turn. Because I had read how bad a product it was, I can remember ...
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Video
VIDEO: Stephen Gay: Auto-enrolment to create a resilient society
Employers are crucial in making auto-enrolment work and will need to consider how much effort they are going to put into engaging their staff with pensions, said Stephen Gay, director of life, savings and protection at the Association of British Insurers (ABI).During an interview with Debi O’Donovan, editor of Employee ...
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Article
Jelf launches annuity service as standalone product
Jelf Employee Benefits is launching its whole-of-market annuity-broking service as a standalone product.The Retirement Income Finder is already available to its existing pension and financial-planning clients, but will now be rolled out to the wider market as a standalone product.The service encourages pension scheme members to select the most appropriate ...
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Article
Age UK partners L&G to launch pension project nationwide
EXCLUSIVE: Age UK has partnered Legal and General to roll out its Living on the state pension project to employers across the UK.The pension provider worked with Age UK to complete the project in 2012, challenging volunteer employees to try to live off the state pension. For every employee who ...
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Article
A third unconcerned about funding retirement
One-third (33%) of respondents who are at retirement or are looking to retire in the future are unconcerned about funding their retirement, according to Close Brothers Asset Management.Its inaugural Trends in wealth report: Road to retirement, which surveyed more than 1,000 UK adults with gross household incomes of £70,000 or ...
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ArticleMost Britons think 20s is ideal time to start pension savings
The majority (91%) of respondents believe it is best for individuals to start saving into a pension in their 20s, according to research by the Money Advice Service.The financial capability of the UK report surveyed more than 5,000 people and followed 72 families closely for a year to provide a ...
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Article
Employers do not see need to invest in retirement education
Almost three-quarters (72%) of respondents do not see the need to invest in retirement education for employees, according to research by Jelf Employee Benefits.Its research, which questioned 124 employers, found that only 28% of respondents think that the removal of the default retirement age (DRA) will lead to an increased ...
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Article
Zurich enhances corporate savings website
Zurich has launched a revamped information website for members of its corporate savings schemes.The site is designed to help members save towards their retirement and manage other savings products, such as individual savings accounts (Isas) and investment accounts.It includes videos, calculators, animations, tools and guidance to help members understand the ...
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Article
DOD's blog: Becoming a bond fundi over pasta funghi lunch
Did you know that the announcement by the USA’s Federal Reserve a few weeks ago to withdraw quantitative easing took a healthy slice of money off the retirement savings pots of UK pension scheme members?No?Me neither. Until I was enlightened to the fact by the lovely Laith Khalaf, head of ...
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Article
NAPF looks to develop at-retirement services
The National Association of Pension Funds (NAPF) has issued a call for expressions of interest (EOI) on the provision of at-retirement services for those saving in defined contribution (DC) pension schemes.The NAPF is interested in working with advisers, brokers and other parties active in the at-retirement market to develop solutions ...
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Article
JP Morgan increases mortgage advice
EXCLUSIVE: JP Morgan has increased the number of mortgage advice sessions it offers its 14,500 UK employees.The benefit, which was added to the investment bank’s flexible benefits scheme, Elements, from 1 April 2013, is provided by mortgage broker Charles Cameron and Associates.Adam Brooke, employee benefits manager (UK) at JP Morgan, ...
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Opinion
Jonathan Watts-Lay: Staff need wide view of savings options
The financial world has changed a lot in the last few years, with many employers saying it is down to staff to decide, from the benefits on offer, which ones are right for them and how to maximise their value.The example often quoted is the move from defined benefit to ...