All Financial wellbeing articles – Page 120
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Article45% able to provide pension flexibility
Less than half (45%) of respondents believe that they have the resources and systems in place to provide pensions flexibility once changes announced in this year’s Budget come into force, according to research by Wealth at Work.Its report, Do your employees need to rethink retirement? which surveyed 105 HR, reward ...
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Article
Financial education in the workplace: engaged employees better for business
This article has been supplied by our channel sponsor, Foster DenovoBy Darren Laverty, director of sales and marketing at Foster Denovo, the parent company of employee benefit adviser SecondsightIn early October, we released the results of some research (1) we undertook on the theme of workplace financial education.According to the ...
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AnalysisHow to motivate staff through the January blues
If you read nothing else, read this…In January, employees may be suffering from the effects of their excessive festive spending, overindulgence and the dreariness of the winter season.There are plenty of low-cost benefits that employers can use to motivate staff .But employees may value their manager’s time more than any ...
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ArticleCompetition in retirement market is not working
A failure by many consumers to shop around or switch provider to get the best annuity deal proves that competition in the retirement market is not working as well as it could be, according to research by the Financial Conduct Authority (FCA).The regulator’s Retirement income market study, which examined products ...
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ArticlePensions research 2014
The Employee Benefits/Close Brothers Pensions research 2014, examines the latest pensions industry trends and issues, enabling employers to keep up to date on the changing needs of their workforce, particularly for staff approaching or at retirement. The research includes the following articles:Jeanette makings: Financial education provides essential retirement guidance Clare ...
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Article36% predict future need for at-retirement support
Just over a third (36%) of respondents think that employers will need to offer at-retirement support to their staff in the future, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 30% of respondents are in the throes of ...
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Article49% assessing at-retirement support funding
Just under half (49%) of respondents have yet to quantify the funding they need for their pre-retirement programmes, according to the Employee Benefits/Close Brothers Pensions research 2014.More than a third (35%) of the 87 respondents that offer staff support at retirement expect their funding to remain about the same in ...
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Article55% do not offer staff support at retirement
More than half (55%) of respondents do not offer their staff support at retirement, according to the Employee Benefits/Close Brothers Pensions research 2014, which surveyed 216 respondents in September 2014.However, the majority of respondents (93%) that do offer staff support have a comprehensive communications campaign in place for staff at ...
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ArticleOnly 6% of UK staff on track for retirement income
Just 6% of employee respondents are on track for the retirement income they want, despite the focus on pensions following the reforms announced in this year’s Budget, according to research by Aegon.Its second Aegon UK Readiness report surveyed 4,000 UK employees to assess their behaviour, awareness and finances to determine ...
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Article62% of HR and benefits teams support staff at-retirement
Just under two-thirds (62%) of respondents’ HR and benefits teams are responsible for their organisation’s at-retirement support for staff, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that just over a third (37%) of respondents said that their pension ...
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ArticleClare Bettelley: Employers need to address staff at-retirement needs now
This perhaps explains why more than half (55%) of respondents do not offer staff support at retirement; the associated issues aren’t at the forefront of employers’ minds.Many employers have reservations about providing at-retirement support because of the blurred boundary betweenfinancial guidance and advice , which employers are prohibited from offering.Employees ...
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ArticleStaff face big decisions around pension savings
Nearly two-thirds (60%) of respondents say uncertainty about how to make the best decisions around how to access their pensions savings is the greatest challenge facing their employees, according to the Employee Benefits/Close Brothers Pensions research 2014. The research, which surveyed 216 respondents in September 2014, also found that the ...
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ArticleAt-retirement support is key part of employee value proposition
Just under half (49%) of respondents say that supporting staff at retirement is a key part of their employee value proposition (EVP), according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 43% see its role in engaging staff as ...
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ArticleBecton Dickinson personalises financial education
EXCLUSIVE: Becton Dickinson has launched a personalised financial education programme for its 300 UK employees.The global healthcare organisation has introduced the programme to deliver education through technology to engage with the whole workforce.Becton Dickinson is using Nudge Global’s Quantum technology, which uses HR and benefits data to profile employees and ...
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ArticleGerald Eve boosts financial education
EXCLUSIVE: Gerald Eve has boosted financial awareness among its 360 employees after holding a number of age-based and one-to-one financial education sessions.The chartered surveyor’s financial education programme, provided by Hargreaves Lansdown, has switched its focus to helping employees deal with stress around personal finances. It has achieved attendance rates of ...
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ArticleTPAS and Citizens Advice to give pensions guidance
The Pensions Advisory Service (TPAS) and the Citizens Advice Bureau will provide pensions guidance to employees from April 2015.The government has announced that TPAS will provide telephone guidance and the Citizens Advice Bureau will provide face-to-face guidance.In July, the government announced in July that its guaranteed guidance on pensions choice ...
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AnalysisKey issues to consider around financial education
Our rapidly changing financial world creates the need for better financial education and support.With the implementation of auto-enrolment upon us, is the responsibility for providing a pension shifting from the government to the individual and the private sector?From next April, savers will be able to use their pension fund as ...
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AnalysisWhy new flexible retirement options should lead to a revamp of HR and benefits strategies
If you read nothing else, read this…72% of pension professionals are not prepared to deal with the consequences of the pension flexibilities. (Aon Hewitt)Financial education could become a prominent feature of benefits packages to help employees plan for retirement.Employers will have to adapt working arrangements to cater for flexible retirement.Default ...
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ArticleOne in four employees do not know how much they pay in to pensions
One in four employees do not know how much they contribute to their workplace pension fund, and many are unsure about how much they should be saving for an adequate retirement, according to research by Scottish Widows.The Scottish Widows pensions report, which surveyed 5,200 UK adults, also found that one ...
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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 ...