All Financial wellbeing articles – Page 122
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Article10% believe employers care about their financial wellbeing
Only 10% of employee respondents believe their employer is concerned about their financial wellbeing, according to research by Barclays Corporate and Employer Solutions (C&ES).Its Financial wellbeing: the last taboo in the workplace? research, which surveyed more than 2,100 UK employees and 100 employers, found that more than two-thirds (69%) of ...
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ArticleMost talked-about news on the website
Fujitsu UK and Ireland rolled out a flexible retirement policy in April, which enables employees over the age of 55 to reduce their working hours in the two years before their chosen retirement date with only a partial reduction in pay.“This is really innovative and also an intelligent approach to ...
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ArticleFujitsu launches flexible retirement
EXCLUSIVE: Fujitsu UK and Ireland has launched a flexible retirement policy.The new policy enab;es employees over the age of 55 to reduce their working hours in the two years prior to their chosen retirement date with only a partial reduction in pay.Paula Evans, head of pensions and benefits, UK and ...
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AnalysisWho will be responsible for providing financial education?
The government announced that, from April 2015, it will guarantee free, impartial, face-to-face advice for all employees that retire in DC pension schemes.But there is much discussion in the industry about whether this responsibility will fall to employers, financial education and pension providers, or the government.Tim Perkins, a director at ...
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OpinionRosemary Lemon: The benefits of benefits
With benefits, the clue is in the word and, what’s more, the advantage of having benefits should be mutual. Benefits should be something considered of value to both the employee and the employer.Too often, they are seen as ‘normal market practice’ at a certain grade and taken for granted. Or, ...
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ArticleAT&T and Kodak shortlisted for financial education
AT&T, Kodak and Live Nation are among the employers that have been shortlisted for the award ‘Best financial education strategy’ at the Employee Benefits Awards 2014.For this award, the judges were looking for employers that have taken a proactive approach to their workforce’s financial needs and have supported staff in ...
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ArticleDOD’s blog: What employers are doing about the changes to pensions
Over the past few weeks, I have had several industry people ask me how employers are reacting to the announcements made in the Budget last month, in particular, in relation to the withdrawal since 27 March of the need for retiring staff to buy an annuity.There seems to be the ...
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Article77% believe in benefits of financial education
EXCLUSIVE: More than three-quarters (77%) of respondents believe financial education in the workplace is helping employees to achieve better financial outcomes, according to research by financial education provider Nudge Global.The financial education provider’s Employee financial education study 2014, which questioned more than 170 organisations that represent more than 850,000 employees, ...
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ArticleUK annuities market could drop by 75%
The UK annuities market could decline by up to 75% after the government’s changes to compulsory annuity purchase come into effect from April 2015, according to research by PricewaterhouseCoopers (PWC).Its research, which questioned 1,208 respondents aged 50 to 75 who are looking to take their pension in the near future, ...
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Article62% in favour of flexibility around pensions
Nearly two-thirds (62%) of UK workers believe giving people more choice and flexibility around how they take their retirement income is a good idea, according to research by Aviva.Its research, which surveyed 1,500 UK employees, found that 80% of respondents were aware of the retirement income changes announced by the ...
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OpinionHugh Gittins: The legalities of financial education programmes
Firstly, the gradual demise of final salary pensions, at least in the private sector, and their replacement by defined contribution (DC) schemes, means that employees are having to pay more careful attention to how their pensions are invested now that they, rather than their employers, stand to gain or lose ...
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AnalysisAn overview of the working generations
Source: Talking about my generation: Exploring the benefits engagement challenge, Barclays Corporate and Employer Solutions, September 2013
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Case StudiesEmployees’ skillsets underpin University of Lincoln’s workforce planning strategy
Ian Hodson, reward and benefits manager, says: “Universities are an interesting case because the point of academia is to bring in new thinking or research, which often means we must ensure we have the capacity to allow for new staff.“Also, in an academic context, an employee’s subject area is often ...
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Case StudiesUnilever segments financial education programme
The consumer goods organisation launched a financial education programme to its workforce in 2012 as part of an overhaul of its pension scheme provision.Unilever closed its defined benefit (DB) pension scheme in June 2012 and replaced it with a hybrid career average and defined contribution (DC) scheme , managed by ...
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ArticleGovernment to guarantee free financial guidance for DC pension members
The governmentis to guarantee free face-to-face advice for all employees that retire in defined contribution (DC) pension schemes from April 2015.Chancellor George Osborne announced in the 2014 Budget that everyone who retires in a DC pension will be offered free, impartial, face-to-face advice on their choices at the point of ...
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AnalysisHow to create a multi-generational financial education programme
If you read nothing else, read this…Effective financial education programmes focus on real-life issues, such as indebtedness, rather than employees’ age.Face-to-face support and online modelling tools can help to deliver programme content.Financial stress can affect an employee’s productivity.But ensuring that a programme addresses a workforce’s wider, multi-generational financial needs poses ...
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AnalysisRetirement communication timeline
Source: Regulatory guidance for defined contribution schemes, The Pensions Regulator, November 2013
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ArticleBrowne Jacobson launches financial education sessions
EXCLUSIVE: Browne Jacobson is rolling out financial education sessions for its employees.The sessions are targeted at three groups of staff: those who are over 50 and planning to retire, those between the ages of 30 and 40, and those between the ages of 20 and 30 who are just starting ...
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Case StudiesMcCarthy and Stone uses financial education to boost pension take-up
The revamp was driven by the fact that the group personal pension (GPP) scheme the employer had offered since the 1990s had not changed much since it was implemented. Its new scheme is a self-invested personal pension (Sipp) supplied by Hargreaves Lansdown as part of its Corporate Vantage platform, a ...
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Article
DOD’s blog: What the Budget means for workplace pensions
Wednesday’s Budget is a game changer for workplace pensions, and one that I broadly welcome.The details and ramifications of these changes to the way savers can withdraw wealth from defined contribution (DC) pension plans will play themselves out over the coming months and years.But the new rules – some of ...