All Financial wellbeing articles – Page 129
-
Article
Highest quarterly fall for annuity rates
The average conventional and enhanced annuity rates fell by 7% and 5%, respectively, in the last three months, according to research by MGM Advantage.The MGM Advantage annuity index, which tracks income paid on convential and enhanced rates on a quarterly basis, found that this decrease is the highest quarterly fall ...
-
Article
Staff unenthused by corporate platforms
The majority of employees are unenthusiastic about workplace savings platforms, according to research by The Platforum.For example, between just 5% and 10% of respondents have signed up for an Individual savings account (Isa) through their employer, preferring to source financial products from banks and building societies.The research, the Workplace savings ...
-
Article
Staff more active in Isas
Employees with corporate individual savings accounts (Isas) are increasingly proactive in their schemes and are managing their investments more regularly, according to research from Equiniti.The study found that, on average, employees are making three distinct investment decisions a year, with those trades representing about £317 of their fund. This activity ...
-
Case Studies
Legal & General staff get lesson on saving
Case study: The £70-a-week experienceOne of those who undertook the £70 challenge was Greg Kingston, head of marketing at Suffolk Life, part of the Legal and General group. Working for a pensions company, Kingston is already an evangelist for saving, but wanted to experience living on a basic state pension.“I ...
-
Article
Corporate platform guide to be launched
Employers who are trying to get to grips with the ever-changing corporate platform market may be relieved to learn The Platforum is to launch a Corporate platform guide later this month.The market, still in its early development, can be confusing for organisations looking at how they might deploy a platform.This ...
-
Opinion
Martin Palmer: Building a platform for success
This industry forum is supplied by Friends LifeCorporate platforms can really revive an employer’s benefits provision and have been a big buzzword in workplace savings for some time. They allow employers to offer a range of financial benefits and investment options, such as pensions, Isas and investment accounts, which better ...
-
Opinion
Charles Cotton: United approach required
A number of challenges are encouraging HR professionals in larger organisations to examine workplace savings. One is that the average life expectancy of employees is gradually rising due to medical improvements and better lifestyles.Because of this and the shape of public finances, the state pension age is being progressively raised ...
-
Analysis
Workplace Savings: Joint effort required on savings
If you read nothing else, read this… Auto-enrolment is raising employee awareness about savings benefits. Staff expect employers to keep them informed about workplace savings. Financial education should be based on guidance, not advice. Communications should focus on risk. The new generation of savers require online and mobile communication. Providers ...
-
Article
Admiral Group doubles pensions take-up
Admiral Group has increased the take-up of its pension scheme following a three-month awareness campaign.The campaign, which was supported by the insurance firm’s adviser Jelf Employee Benefits and pension provider Scottish Widows, included one-to-one briefings with staff and pensions packs.It led to an increase in pension membership from 1,100 to ...
-
Analysis
Using corporate platforms makes savings benefits easier to handle
If you read nothing else, read this… Corporate platforms can help employers show the breadth and value of their savings offer. Purists believe corporate platforms should feature a pension scheme, an individual savings account and a form of savings account. Employers must ensure their corporate platform products are relevant to ...
-
Case Studies
City and Guilds in talks on corporate platform
City and Guilds is in the throes of deciding whether to implement a corporate platform to help it optimise the attractiveness of its benefits package, which includes private medical insurance (PMI), group income protection (GIP), childcare vouchers and a bikes-for-work scheme.Sangeeta Mistry, group reward manager, says: “We offer a really ...
-
Article
Jelf Employee Benefits launches financial education services
Jelf Employee Benefits has launched two financial education services, called Jelf Money at Work and Jelf Money after Work.The services, which can be offered by employers as one-to-one sessions or group workshops, covers topics such as investment guidance, technical support and lifetime financial education, and are designed to help employees ...
-
Analysis
Auto-enrolment and the future of workplace savings
Employee Benefits assembled a panel of industry commentators to discuss recent developments in workplace savings and the impact of pensions auto-enrolment. Padraig Floyd reportsWorkplace savings benefits have developed rapidly in a market where regulation is reinforcing the need for employees to save for their retirement.On the eve of auto-enrolment, we ...
-
Article
73% of respondents aren’t offered financial education at work
Three-quarters (73%) of respondents said their employer offers them no form of financial support or advice, according to research by the Chartered Institute of Personnel and Development (CIPD).The CIPD’s Summer 2012 employee outlook focus, which surveyed 2,000 UK employees, found that 59% of respondents reported that, among respondents who said ...
-
Article
Workplace Savings Quarterly - September 2012
NewsViewpoint: Padraig Floyd of Workplace Savings QuarterlyViewpoint: Susan Jones of TOR Financial ConsultingViewpoint: Charles Cotton of the CIPDCover story: What level of investment risk should employers and employees take?Corporate platforms: Wrapping up savings benefits makes them easier to handleAsset allocation: Right ingredients for a DC investment strategyEmployer profile: Legal and ...
-
Article
Debi O'Donovan: Staff engagement with pensions is essential
Pensions auto-enrolment could be the worst employee engagement disaster in recent years. Those of you who know me will realise I am not inclined to tabloid-style, shock-horror scare stories, so let me explain my thinking.We have gone through several years of below-inflation pay increases, if not pay freezes, which are ...
-
Article
Buyer's guide to financial education
Focus on factsWhat is financial education?It is a structured process and set of learning objectives designed to inform employees about financial matters. It is often focused on educating around relevant employee benefits, such as pensions and share schemes, but can also include help with saving money. Traditionally, content can be ...
-
Article
Employees want flexibility around workplace savings and pensions
Employees want more flexibility around their savings and pensions options, but employers are not catering for their needs, according to research by Mercer.Its research, which analysed the defined contribution (DC) pension schemes of more than 300 UK organisations, found that, on average, 58% of employee respondents ranked pensions as the ...
-
Opinion
Mark Polson: Corporate Isas great new hope
In what is probably the last throw of the dice for workplace savings before Nest (national savings employment trust) drives a coach and horses through the industry, the new corporate platforms aren’t just opening up investment and functionality, they are adding wrappers, too. Workplace cash and stocks-and-shares Isas (individual savings ...
-
Opinion
Frances Corbett: Financial education
People are living longer. Even if we work past our late 60s, many of us will, hopefully, enjoy at least 20 years in retirement and the income we will need has to be earned while working.Despite this, about seven million people are not convinced and seem unconcerned about being financially ...