All Financial wellbeing articles – Page 133
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Article
Financial services industry may help fund generic financial advice
The financial services industry and the government must share the cost of funding generic financial advice, according to the Thoresen Review.Otto Thoresen's, chief executive of Aegon UK, interim report has laid down the case for national generic financial advice to be funded by both the government and the financial services ...
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Article
How to manage financial education
Preparing staff for financial schoolingProductivity gains in adding education remitA constant onslaught may influence successForm versus functionShare mechanics of perks Share mechanics of perksBill pensions as need to save so interest is boostedSwitch on to retirement as early as you canAppreciating benefitsLetting staff career aheadSome employers may query why they ...
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Article
A constant financial education onslaught may influence success
Rather than making sporadic gestures there can be real merit in providing ongoing financial education in your workplace.Employers may find that instead of providing financial education as and when the need arises, they could find that a continuous programme is more beneficial for the organisation and staff.Angus Jones, managing director ...
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Article
Axa helps staff to manage finances
Axa is helping staff to manage their finances with the launch of a new website and pilot scheme giving 425 of its employees one hour off a month to review and manage their money.It is now urging other employers to do the same with a national campaign, which will culminate ...
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Case Studies
British American Tobacco offers financial education to those in share schemes
British American Tobacco (BAT) offers financial education to those employees participating in its share schemes who are based at its London headquarters.Particular emphasis was placed on the sharesave scheme when it matured in 2006, as the share price had significantly increased in value. The HR department recognised that it needed ...
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Article
Stockmarket turbulence prompts care over pensions
Stockmarket turbulence should prompt employers to that pension schemes' assets and liabilities are well-matched, and to supply financial education.Pension scheme deficit volatility will continue despite an improving trend in funding levels, according to Mercer Human Resource Consulting's latest FTSE 350 Pension Scheme Survey.Although the de-risking of defined benefit pension schemes ...
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Article
Vodafone offers financial support to staff affected by floods
Vodafone is offering one-off interest-free loans of up to £5,000 to employees who have been seriously affected by the recent floods.The mobile phone giant is based in Newbury, Berkshire, which suffered from flooding along with the surrounding areas where a number of its staff live.The short-term loans are intended to ...
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Article
Summit news: Employers split on offering financial education
Employers were split fifty-fifty over whether it is their responsibility to offer financial education or advice to staff in a poll at the Employee Benefits Summit in Jerez.Only 37% of employers at the summit currently offer financial education or advice to employees.Harper Wright, financial capability manager for Bank of America ...
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Article
Financial education - definition - Worksite marketing
This is another way of providing staff with access to information about financial products. This is where providers sell their products through the workplace directly to staff. A number do so through voluntary benefits schemes, for which employers pay an annual subscription fee.
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Supplier article
Financial education - definition - Methods used
Financial education can be provided using newsletters and other printed materials which are distributed to staff, internet and intranet sites, group seminars, tutorials, emails, telephone helplines, online tools such as benefits modellers, which allow staff to calculate the cost of benefits and project future savings for perks including pensions, and ...
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Analysis
Employee engagement: Financial education must cover staff's diverse needs
Financial education can help all staff, from junior employees to top managers, but the key to a successful programme is understanding people’s diverse needs, says Victoria FurnessPersonal finance isn't a topic that causes most people to jump with enthusiasm, but a growing band of employers are using financial education in ...
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Article
Coda launches group Sipp
Coda has launched a group self-invested personal pension (Sipp) in order to offer employees greater investment choice.Previously, staff could choose from a range of 100 fund options available through the financial management firm's group personal pension (GPP) plan. The new Sipp, which is due to launch early this month, offers ...
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Article
Financial education - definition - Benefits modellers
Benefits modellers can be provided online to help staff work out how much certain perks will cost.These tools are now available around a number of different benefits. For example, pensions modellers can help staff work out the benefit they could receive if they were to increase their contributions, while flexible ...
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Case Studies
British American Tobacco improves financial education for staff
Maturing employee share options under British American Tobacco's (BAT) sharesave scheme provided the impetus for its HR team to improve financial education for its employees.Nina Crossen, HR project manager at BAT, says: "Because the share price had increased enormously there was good profit to be gained by employees and this ...
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Article
Financial education - definition - Financial advice
This is anything offered in addition to financial education and can only be provided by firms and individuals authorised by the Financial Services Authority (FSA). The cost of providing access to independent financial advisers (IFAs) for staff can vary depending on the number of employees and type of advice chosen, ...
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Analysis
Pre-retirement financial education for employees
The thought of retirement is a scary prospect for most employees but financial education that occurs over five years before the event can be of enormous benefit says Laverne HadawayArticle in fullPre-retirement education is a benefit that is currently offered by relatively few employers, but that may well change.Jonathan Watts-Lay, ...
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Analysis
Pensions education can prove a difficult task
Communicating complex financial scenarios around retirement and pensions can be mired with problems, but Kate Donovan finds out from BP's Susan Hughes how to simplify messages to hook-in the widest audienceThe subject of pensions is often perceived to be as dry as the desert. So getting employees to understand the ...
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Analysis
Sponsor's comment by JPMprgan INVEST: Studying financial opportunities
This article is brought to you by JPMorgan INVEST.JPMorgan INVEST, part of the JPMorgan Asset Management group of companies, is a leading specialist provider of financial education in the workplace. David Cassidy, chief executive officer, JPMorganThe provision of occupational pensions is not regulated by the Financial Services and Markets Act ...
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Analysis
Outsourcing communication to boost share plan take up
Communications can often be vital to share scheme take up, and deciding to outsource your messaging may have a profound impact, says Bea OaffWhat is a great share scheme without a strong communication strategy behind it? Pose this question to a HR expert and the most likely answer is 'a ...
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Analysis
Uncertainty among worksite marketing providers causes concern for employers
With doubts being raised about provider commitment to workplace marketing, employers could be set for a series of dilemmas, says Victoria FurnessCase study - Malmaison and Hotel du VinArticle in fullThe proposition behind worksite marketing - the sale of financial products to people through their workplace - was once compelling ...