All Financial wellbeing articles – Page 134
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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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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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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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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: 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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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
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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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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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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Debi O'Donovan, editor of Employee Benefits: Here's some free advice: give us value for money
?Listening to many financial advisers, you would think the introduction of the Retail Distribution Review in 2013 will adversely affect employee savings as they lose access to ‘free’ advice.I heartily disagree. It will bring transparency to the charging structure of financial products and dispel the myth that the advice is ...
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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 ...
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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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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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Employers fail to meet staff expectations on retirement planning
Just 30% of employees believe their employer is doing a good job in helping them plan for retirement and a growing proportion expect financial services-style technology to manage workplace benefits.Out of the 1,000 employees who responded to Mercer's Employee rewards, benefits and savings survey, 86% said they would like to ...
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The Open University launches financial education course
The Open University is offering a course to help employers provide staff with financial education and encourage them to take better control of their finances.Its ‘You and your money’ course, which covers a range of financial issues including income, expenditure, budgeting and debt, aims to give employees a better understanding ...
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Employers believe staff are responsible for own financial education
The majority of employers (83%) believe it is the individual’s responsibility to educate themselves about financial matters, according to a new report from the Pensions Management Institute (PMI) and Standard Life.The DC Pulse research also found that just 34% of employers reported a take-up rate of more than 80% in ...
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Pensions salary sacrifice tops list of valued benefits for UK staff
Over half (56%) of UK employees would sacrifice pay for a higher pension contribution by their employer, according to Aon Hewitt.Its European Employee Benefits Benchmark, which surveyed more than 7,500 employees in Belgium, Denmark, France, Germany, Ireland, the Netherlands, Norway, Spain, Switzerland and the UK, focuses on topics such as ...
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Toyota Tsusho to educate staff on pension changes
Toyota Tsusho UK is to introduce financial education sessions to show its employees how their pension is performing after introducing a new pension scheme and switching providers.The resources trading firm introduced a group personal pension (GPP) plan, provided by Aegon, in June after closing its previous defined contribution (DC) scheme ...