All Financial wellbeing articles – Page 123
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ArticleDiscover why employers must support staff financial wellness at Employee Benefits Connect
Employers must offer the tools to help employees navigate their own financial wellness.Katie Nedl, global head of benefits at BlackRock, will speak at a session titled Understanding the effect of global financial benefits on work engagement at Employee Benefits Connect in New York on March 25, 2014.She said: “In a ...
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Case StudiesWithers ensures it offers staff engaging benefits package
The organisation reported a 7% decline in net profit, down from £24.2 million in 2011/12 to £22.5 million in 2012/13, based on revenue of £117.8 million. Profits per equity partner also fell, from £386,000 to £370,000, over the same period, according to its financial results for 2012/13, published in July ...
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ArticleDC pension savings to become more flexible
In the Budget 2014, Chancellor George Osborne (pictured) announced greater flexibility in the way employees retiring with defined contribution (DC) pensions can take their savings.In the future, DC members will be able to take their pension wealth as a lump sum, drawdown, or an annuity.A range of changes came in ...
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AnalysisAt-retirement options glossary
AnnuityA type of insurance policy that employees can buy from an insurer, often their pension scheme provider, at retirement using their pension savings in return for an income for life.Enhanced annuityWorks in the same way as a standard annuity, but offers better income levels for employees in poor health, caused ...
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ArticleLife Planning Association launched
A new national professional body has been launched to support employers and employees in life and retirement planning. The Life Planning Association has been formed because of the current challenging circumstances of an ageing population, changes in pension schemes, state benefit reforms and longer working lives.It will aim to influence ...
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Article
DOD’s blog: Does your CSR strategy take into account staff needs?
A couple of weeks ago I went to a talk at the business forum Initiatives of Change UK on Business in the new world economy.While I found some of the ideas discussed pretty ‘out there’, there was was plenty to challenge the audience to think differently unless we want businesses ...
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ArticleJust 13% think staff save enough for retirement
EXCLUSIVE: Just 13% of respondents believe their employees are saving sufficiently for retirement, according to research by Wealth at Work.Its Generating income in retirement 2013 report, which surveyed 104 employers, found that only 14% of respondents are aware of the various retirement income options.Nearly two-thirds (65%) of respondents believe their ...
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ArticleAnnuities market is not working
The annuities market is not working, according to a review by the Financial Conduct Authority (FCA).Its Thematic review of annuities, which is part of the first stage of the FCA’s review into retirement products, gathered information from 25 organisations representing 98% of the annuities market.The review found that, for a ...
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Article
23% of 2014 retirees not ready to stop working
Almost a quarter (23%) of respondents who plan to retire this year said they do not feel ready to stop working completely, according to research by Prudential.Its Class of 2014 research, which surveyed 7,821 non-retired UK adults over the age of 45, found that more than half (54%) of respondents ...
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AnalysisFive top workplace savings initiatives
If you read nothing else, read this…Employers can offer a range of schemes to help meet employees’ short- and long-term savings objectives.Effective marketing of workplace savings schemes can generate interest and boost participation.Employees will appreciate the ability to analyse their whole financial portfolio.Whether it’s short-term savings or putting more money ...
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Article
Ian Wright: How will the changing state pension age affect employers?
Our employees are fortunate enough to be relatively high earners and most take part in the organisation’s pension scheme. This means that, as they approach their 60s, most should have personal savings, investments and assets, and should have built up a fairly substantial pension fund rather than be reliant on ...
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Article
Simon Nash: How will the changing state pension age affect employers' pension strategies?
On 11 December 2013, the Office for National Statistics released an update to its projected mortality figures, predicting that girls born in 2013 would live to, on average, 94 years of age, with boys still living slightly shorter average lives.What is more, these statistics reveal that more than one-third of ...
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Article
Michelle Cracknell: How will the changing state pension age affect employers' pension strategies?
With all of us living longer, the state pension is no longer affordable on its current terms. For those of us in the industry, the rise in the state pension age was confirmation of the inevitable, but was it expected by the public?The Pensions Advisory Service takes more than 80,000 ...
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Article
David Fairs: How will the changing state pension age affect employers' pension strategies?
Saving longer and retiring later should make for higher pensions. But employees who want to retire earlier than state pension age, or indeed need to retire earlier because they are in a physically demanding job, will face some difficult choices. With the average pension pot of £30,000 currently providing an ...
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Opinion
Ian Hodson: Financial education will be key in 2014
One thing that has become critical is the provision of financial education in the workplace and ensuring that the right offering is there to ensure that financial planning will underpin employees’ career and retirement planning. This is becoming even more important when looking at the pensions landscape, the demographic changes ...
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Article
Employee Benefits Awards entry deadline extended to 17 January
We will not accept entries past this date, so make sure you don’t miss out.See all the information you need to enter, along with the category details and entry forms.There are no fewer than 22 categories to enter, so there is sure to be one to recognise your hard work.Workplace ...
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Article
Reed Smith staff move to online savings platform
EXCLUSIVE: Law firm Reed Smith has seen 89% of employees register to manage their savings and benefits online since it launched an integrated workplace savings and flexible benefits platform.It introduced its platform, Path, in May 2013 because benefits take-up rates were low and the benefits were spread across different providers ...
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Article
Trident Reach offers financial wellbeing kiosk
Charity Trident Reach has launched a touch-screen kiosk to help employees access financial and wellbeing benefits.The kiosks provide staff with access to a range of products and services, such as healthcare policies and discounts from health insurer and employee benefits provider BHSF, as well as existing savings accounts with Citysave ...
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Article
Employee Benefits Awards applaud financial education
This award will recognise an employer that has taken a proactive approach to its workforce’s financial needs.The winning organisation may have: brought in financial advisers for one-to-one meetings; run financial seminars or workshops; installed financial modelling programmes on the intranet or internet; provided pre-retirement education; offered staff time off work ...
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Article
Employee Benefits Awards 2014 closing to entries
If you have not entered already, this is your last chance to do so - make sure you don’t miss out.See all the information you need to enter, along with the category details and entry forms.There are more than 20 categories to enter, so there is sure to be one ...