All Financial wellbeing articles – Page 131
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Article
Standard Life money talks
Standard Life has run a series of financial education sessions for its employees during the summer period in an effort to boost staff understanding of their own benefits and to help them deal with any financial issues.The sessions, run by the Financial Services Authority, have been taking place weekly, during ...
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Financial education needed to encourage staff to save
Nearly a third (31%) of UK employees have little or no savings to rely on if they were made redundant.More than half (56%) of employees have less than four months salary saved, according to a survey of 2,103 employees working in companies with 10 or more employees by Jardine Lloyd ...
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TNS extends financial education
TNS is offering employees the opportunity to attend financial education seminars in a bid to improve their knowledge and appreciation of the value of the benefits available to them.After a successful pilot in May, the firm decided to roll out financial education sessions to staff across offices in the UK.The ...
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EAP use rises in downturn
As the credit crunch bites, employees are increasingly turning to workplace employee assistance programmes (EAPs) to discuss concerns about job insecurity, financial problems and tenancy issues.Employee Advisory Resource, (EAR), which provides 341 UK firms with EAPs that cover more than 500,000 employees, reports that, in July, calls relating to redundancy ...
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Friends Provident launches online pensions service
Friends Provident has launched an online financial pensions service to help members of its group pensions schemes keep track of their finances and make the most of their group pension schemes.Through the service. staff will be able to view a snapshot of their financial position, which will enable them to ...
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Scottish Power fuels financial education for staff
Scottish Power has run a series of drop-in financial education seminars to help employees handle their money better and understand the finance-related benefits on offer from the company.The employer arranged for 22 on-site education sessions, each lasting 45 minutes, to take place during June and July at its main UK ...
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Employers likely to help staff with finances
Employers are likely to take a greater role in the future in helping employees with their personal financial planning, according to research by Watson Wyatt. Of the 70 large UK private-sector employers surveyed for The future of retirement savings report, due to be released in full in July, almost three-quarters ...
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Home Retail Group launches financial education
Home Retail Group has launched financial education for staff in association with the Financial Services Authority (FSA) to help employees make the most of their money.The firm held presentations last month at nine of its distribution centres as well as at its head offices in Milton Keynes and Wallington. More ...
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Kent County Council offers financial tips
Kent County Council has run a pilot financial education programme with a view to rolling out the service to all its 46,000-strong workforce.The seminars, held in Maidstone, were conducted by the Financial Services Authority and were attended by about 160 council staff.The council held the seminars to provide staff with ...
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Analysis
Supporting staff in times of crisis with perks
Financial, health or family-related crises can affect employees at work, and employers need to have support mechanisms in place, says Sam BarrettThe impact of the credit crunch on businesses has been well documented, but the problems it raises for employers could go much further than their bottom line. Many employees ...
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Cambridge University Press launches financial education seminars
Cambridge University Press has provided employees with the opportunity to attend financial education seminars around its stakeholder pension scheme, in order to enable them to make informed decisions around saving for the future.The provider of its defined contribution (DC) stakeholder pension scheme, Norwich Union, visited the firm's workplace five times ...
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Analysis
Greater onus on employers to look after staff needs
In the early 19th century, entrepreneur Robert Owen inherited a large mill in New Lanark, Scotland. The factory and surrounding area was overpopulated by thousands of workers from the slums and workhouses of nearby Glasgow and Edinburgh, so Owen, finding the conditions to be unacceptable, took the radical step of ...
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Financial education supplement 2008: Pensions tutoring vital for staff
This article is brought to you by our sponsor JPMorgan INVEST.UK companies are still not offering their employees adequate and correct pensions guidance to help them in their decision making - especially at the point of retirement so that they fully understand their retirement options.The message is clear from much ...
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Analysis
Modelling tools help staff to understand perks
Modelling tools can help staff understand their benefits and encourage them to act on money matters, but they will require additional support, says Sonia SpeedyBoosting employee interest in their personal finances and workplace perks can seem like a Herculean task. But increasingly sophisticated modelling tools are helping to ease this ...
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Financial education supplement
Otto Thoresen on his review into generic financial advice Focus on delivery as much as cost in delivering financial educationModelling tools help staff to understand perksTax break around pensions advice divides opinionSponsor's commentFinancial education is such an important issue that the government last year commissioned Otto Thoresen to review the ...
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Analysis
Focus on delivery as much as cost in delivering financial education
When planning a financial education programme, employers must base their decisions on more than cost, and also look at how best to deliver information to staff, says Kirstie RedfordWhile a lack of financial know-how among employees can often result in a failure to fully appreciate the value of the benefits ...
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Case study: Siemens uses modelling tools for pension education
Technology giant Siemens made extensive use of modelling tools last year when it moved from an array of final salary pension schemes to a defined contribution pension plan and took steps to standardise the way pension contributions were calculated.The change affected around 6,000 of Siemens UK's workforce, which numbers over ...
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Analysis
Tax break around pensions advice divides opinion
The tax break on independent pensions advice worth up to £150 per employee a year may seem appealing, but does it go far enough, asks Stephanie SpicerStaff are increasingly looking to their employers to provide them with information about their pension scheme. However, communicating the way a pension works is ...
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Analysis
Otto Thoresen on his review into generic financial advice
Sarah Coles questions Otto Thoresen on his bid to bring financial education to the massesThere are two things that everyone knows about their finances. Firstly, they are far too complicated to understand, and, secondly, anyone who offers you help to get to grips with them is not to be trusted.It's ...
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Staff need financial education to make the right decisions about their future
This article is brought to you by our sponsor JPMorgan INVEST.UK employers are failing to explain to workers the extent of their retirement options, but adequate guidance can be given through financial education, says David Cassidy, chief executive officer, JPMorgan INVESTUK companies are still failing to offer their employees adequate ...