All Financial wellbeing articles – Page 127
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Analysis
Quirky schemes to help employees save
If you read nothing else, read this…Employers are creating more innovative savings schemes for staff.Existing funds help employees to save for their first home, holidays and school fees.Successful take-up relies on a robust financial education programme.Life has never been more challenging for Generation Y. UK unemployment may have fallen by ...
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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
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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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
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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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
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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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
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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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
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
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
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
Buyer's guide to financial education
What is financial education?Workplace financial education involves employers, or a third-party provider, educating employees about financial benefits, such as pension and share plans, and teaching them how to use these perks to optimise their financial wellbeing. Financial education programmes typically focus on financial benefits, but can also include individual savings ...
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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 ...
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Article
Unaffordable retirement will impact firms' ability to recruit staff
According research by Hymans Robertson two-thirds of respondents to believe that almost half their workforce will be unable to retire at the state pension age due to inadequate pension savings.Its research, conducted among 200 HR directors and managers, found that 78% of respondents have considered the impact this would have ...
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Article
Lincoln Uni educates staff on personal allowance
EXCLUSIVE: The University of Lincoln is piloting financial education sessions for its senior management to ensure they are informed about their options around the annual and lifetime allowances for pensions saving.The sessions, which are part of the university’s financial education programme with Wealth at Work, started with a session for ...
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Video
Yvonne Braun: Decision on annuities is critical
Ensuring employees have the tools to make the right decision about buying an annuity is critical, said Yvonne Braun, head of savings and retirement at the Association of British Insurers (ABI), during an interview with Tynan Barton, features editor at Employee Benefits at the Employee Benefits Pensions and Workplace Savings ...
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ArticleIncome drop expected for third of retirees
Retirees can expect their regular income to fall by 40%, according to research by annuity provider Partnership.Its analysis of HM Revenue and Customs (HMRC) data also revealed the regions where retirees are most likely to see their income drop, with London (-48%), the east of England (-40%) and the south ...
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Article
Philips launches retirement guidance service
Philips UK has launched a financial guidance service to support employees nearing retirement.The service, provided by OpenRetirementClub, is delivered online and via employee forums.The forums feature expert opinion from providers of retirement income and investment services. Employees can then seek specific financial advice or make informed decisions themselves.Nina Platt, reward ...