All Financial wellbeing articles – Page 127
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Article
Standard Life research: A quarter of employees are not making full use of benefits
A quarter (25%) of employees are not making full use of their benefits package, according to research from Standard Life.Part of the Insights into Financial Responsibility report which polled 8,500 people, the research also found that 31% of respondents are not confident about their financial security at age 60, while ...
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Article
Lorica changes name and rebrands to reflect increase in services
Employee benefits provider and consultancy Lorica has changed its name to Lorica Employee Benefits and re-branded to reflect the firm's increase in services.In the last two years it has added flexible benefits and actuarial risk divisions to its range of services. Its six core offerings are now: corporate pensions (workplace ...
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Analysis
Financial Education: Effective networking is vital
If your read nothing else, read this… Financial education is now likely to include interactive and online tools, such as quizzes and modellers. These can help staff to better understand complex financial topics and engage with their benefits package. Some employers give staff time during the working day to use ...
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Analysis
Financial Education: Why offer financial education?
If you read nothing else, read this... As many as nine out of 10 adults suffer stress over money matters, according to Axa research. Studies also show financial anxieties can affect performance at work. Financial education can help employees appreciate their, often costly, benefits packages. This, in turn, can boost ...
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Analysis
Financial Education supplement
Download the PDF of the Financial Education supplementSponsor’s comment: Employees need guidance to rethink their retirement plansEconomical ways to increase employee awarenessEffects of the Retail Distribution ReviewWhy offer financial education?Effective networking is vital
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Analysis
Financial Education: Effects of the Retail Distribution Review
If you read nothing else, read this… Commission on pensions and investments will be banned from 31 December 2012, when the Retail Distribution Review is implemented. This will pose challenges for employers when it comes to funding financial education for employees around pension provision. The move could prompt smaller employers ...
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Article
McCarthy and Stone launches corporate wrap
McCarthy and Stone has launched a corporate wrap as its new workplace pensions and savings scheme.Hargreaves Lansdown, the provider of the wrap, has conducted a series of presentations and one-to-one meetings with the builder’s staff. Three-quarters of the members of the firm’s group personal pension (GPP) arrangement have switched to ...
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Analysis
Financial Education: Sponsor's comment: Employees need guidance to rethink their retirement plans
Legislative changes have increased the retirement income options for staff, says Jonathan Watts-Lay, director at Wealth at WorkThe changing pension and retirement landscape means employees now have a number of options to consider. They save for many years into pension plans and other forms of investment to fund their retirement ...
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Article
Ernst and Young softens the blow of pension tax changes
Ernst and Young has developed a strategy to mitigate the impact on high earners of the pensions tax changes taking effect on 6 April.The firm established that just over 40 employees will be affected by the reduction in the annual allowance from £255,000 to £50,000. As an interim measure, Ernst ...
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Article
Case study: Financial education workshops pay off for BGL Group staff
Insurance broker the BGL Group has added a financial education programme to the range of benefits it offers its 2,100 employees.Lucy Painter, associate director for shared services group HR at the company, says: “We already run pension seminars and one-to-one sessions with our pensions consultant, AWD Chase de Vere, as ...
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Case Studies
Case study: Barbon boosts staff engagement through benefits
Insurance brokerage and services provider Barbon, which has 750 employees, emerged as a successful standalone business after its parent, a property company, collapsed in 2008. At the time of its parent’s demise, no benefits were offered to staff and turnover was high.Retaining talent became a key objective for the new ...
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Analysis
Financial Education: Economical ways to increase employee awareness
If you read nothing else, read this...There are a number of ways in which employers can provide financial educationfor their employees cost-efficiently, such as online programmes.Some services, such as those provided by the Money Advice Service, are available at no cost to an organisation.The cost of providing financial education will ...
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Article
Case study: BT transmits a model approach to financial education
BT offers a voluntary programme of financial education for employees aged over 50 to help them begin planning for retirement. This includes seminars, offered in conjunction with provider Wealth at Work, as well as BT’s own online pensions modelling tool.Dennis Gissing, head of people practices at BT, says: “We have ...
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Article
CFEB rebrands as Money Advice Service
The Consumer Financial Education Body has rebranded as the Money Advice Service.The organisation’s free workplace financial education programmes, which have been offered to employers for over four years, will be refreshed, but the content will not change.Stuart Bailey, national partnerships manager at Money Advice Service, said: “The core content will ...
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Article
Standard Life research: Employers feel responsible for employees’ financial security
Eight in ten (80%) employers feel responsible for their employees’ financial security, with nearly a quarter (22%) feeling primarily responsible.†According to Standard Life’s Insights into Financial Responsibility (IFR) report, 65% of employers believe employee communication has improved over the past five years. However, almost the same number of employees (64%) ...
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Article
Mercer adds financial education to its workplace savings product
Mercer has partnered with Life Academy to offer financial education seminars for employees approaching retirement. The seminars have been added to Mercer's workplace savings product.The seminars will help employees plan and manage their finances for retirement, including their pensions benefits, savings and investments. Tax and estate planning, and buying an ...
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Analysis
Thought leaders: Academic insights: Financial knowledge is an essential skill
Key points 71% of people blame a lack of personal finance understanding for debt. 7% learn about personal finance from parents and 4% from banks; 81% pick it up through trial and error. 16% of Brits are not knowledgeable about personal finance until they are at least 35 years old. ...
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Article
Scottish Widows launches corporate Isa
Scottish Widows has launched a corporate individual savings account (Isa) on its workplace savings platform, Mymoneyworks, to increase choice and flexibility for employees looking for additional savings vehicles.The corporate Isa consists of a self-select stocks and shares Isa, and self-select funds Isa, both provided by Halifax Share Dealing, part of ...
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Article
Mercer to launch corporate wrap product
Mercer is to launch a corporate wrap product called Mercer Workplace Savings Solution.The platform will be launched in partnership with Friends Provident, Standard Life and Zurich, each of which is developing its own corporate wrap platform. Mercer's system will guide users through the options and provider best suited to their ...
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Article
Equiniti launches online financial education campaign
Equiniti has launched an online financial education campaign that features a cartoon operetta to help the 18 million UK shareholders it serves understand complex financial topics.Its The Big Picture; Hens and Equities operetta will feature a series of short clips with the first covering inflation. Featuring singing chickens, the clip ...