All Financial wellbeing articles – Page 135
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Opinion
Financial education: Sponsor's comment: Wide strategy needed to get the financial message across
Jonathan Watts-Lay, director of Wealth at Work, says all employees must be made aware of their financial needs and opportunitiesInsufficient retirement savings, over-indebtedness and lack of knowledge are all factors creating the need for financial education, but what are the considerations and benefits for an organisation in providing financial education ...
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Analysis
Financial education: Be sure to hit your target audience among employees
Making financial education relevant to each employee that receives it is the key to maximising staff awareness and take-up of benefits, says Peta HodgeFinancial illiteracy fuelled the demand for sub-prime mortgage products, led to high personal debts and, ultimately, contributed to the collapse of financial institutions across the world.That was ...
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Analysis
Financial education: Interview with Andrew Pendleton of York University
Financial education may not boost benefits take-up, but it can improve employees’ work performance, says York University’s Andrew Pendleton. Jenny Keefe reportsBritain might have finally staggered out of recession, but employees still need to repair the damage it has caused to their bank accounts. Andrew Pendleton, professor of human resource ...
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Analysis
Financial education: How to build a business case
Improved staff retention and productivity are among the reasons for providing financial education, says Liz MorrellMost employers offer a range of benefits to help staff make the most of their money, but few do enough to ensure employees get the best value from what is on offer, assuming they will ...
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Analysis
Financial education: Likely effects of the retail distribution review
The retail distribution review planned by the Financial Services Authority could have major repercussions for financial education, says Georgina FullerThe days of benefits consultants and advisers having commission remunerated by pensions providers will come to an end if the Financial Services Authority's proposals for the retail distribution review (RDR) are ...
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Article
Killik Employee Services launches financial education website
Killik Employee Services (KES) has launched a workplace financial education website called Money in Mind. This enables employers to provide their workforce with straightforward information, tools and an online virtual advisor to improve their personal financial capabilities.Peter Leach, director of Killik Employee Services, said: “Money in Mind is the one-stop ...
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Case Studies
Case study: Axa
Axa's online 'My budget day' resource is at the core of the insurance company's financial education programme for employees.The emphasis is on continuous financial management, with all employees being allowed to take an hour of their working time each month to use the site, which offers a number of interactive ...
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Case Studies
Case study: Blaenau Gwent County Council
Blaenau Gwent County Council saw the Financial Services Authority's 'Making the most of your money' seminars as a useful benefit to offer staff at a time when many were feeling the pinch financially.Julie Morgan, HR manager at the Welsh council, says: "We felt it was a good employee benefit and ...
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Case Studies
Case study: Marks and Spencer sets store by education
Marks and Spencer (M&S) offers financial education to all staff. It targets its 60,000-plus store staff through seminars and leaflets in association with the Financial Services Authority's 'Money matters' programme, and its management staff through a partnership with Wealth at Work. The retailer's head of employment relations and reward, Deborah ...
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Analysis
Implications of early retirement law
Next year’s change to the early retirement age could have major implications, says Ceri JonesIf you read nothing else, read this... For employees to have the right to retire before age 55 after April 2010, an earlier normal retirement age must be written into their contract of employment. A collective ...
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Article
Molton Brown offers retirement courses to staff
Maker of luxury beauty goods Molton Brown is offering retirement design courses to support its older employees.The one-day course, provided by Jelf Employee Benefits, offers detailed information on financial opportunities and challenges of retirement, as well as the impact it has on relationships and the amount of spare time a ...
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Article
FSA runs redundancy financial education scheme
The Financial Services Authority (FSA) is running financial education seminars for employees who have been made redundant.The hour-long seminars, held at the employers' offices, are designed to help those who have just lost their jobs be better equipped at dealing with their finances.Topics include making the most of redundancy payments, ...
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Article
Axa is to launch online pensions video
Axa Corporate Benefits is launching a new online video programme designed to engage younger employees with their corporate pension arrangement.Pensions TV is designed to overcome inertia around pensions and any difficulties employees, particularly younger staff members, might have discussing the benefit.The programmes available follow three employees who demonstrate varying approaches ...
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Article
Room for improvement in the standard of employers' retirement literature
Research conducted by the Pensions Regulator has found that 30% of UK employers have allegedly failed to disclose adequate guidance to their employees on defined contribution (DC) pensions.A review of retirement information, which looked at 97 DC schemes, found that 30% had alleged legislative breaches of retirement disclosure regulations, while ...
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Article
Killik launches workplace guide to money matters
Killik Employee Services has launched a workplace financial education service designed to complement the Financial Services Authority's national financial capability initiative.Online serviceThe online service, Money in Mind, gives guidance on matters such as pensions, budgeting, savings and insurance.Staff can access interactive and planning tools such as virtual financial education tutorials ...
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Analysis
Corporate wrap products are taking shape
Corporate wrap, an integrated financial planning platform for employees, is taking shape as a proposition for employers, but the concept has its doubters, says John GreenwoodIf you read nothing else, read this...Corporate wrap is not yet available, but is likely to be in the next 12 months.Staff will be offered ...
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Article
Zurich launches tax handbook
Zurich has launched the latest edition of its annual tax handbook for financial advisers and their clients, in conjunction with Pearson Education.The updated guide provides a single source of reference for all aspects of tax planning. In addition, this year's guide highlights some of the potential tax consequences arising from ...
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Article
JPMorgan Invest renamed Wealth at Work
Financial education and employee wealth management services provider JPMorgan Invest has been renamed Wealth at Work.The change follows the completion of a management buyout backed by Lloyds TSB Development Capital (LDC), the private equity division of Lloyds Banking Group.Wealth at Work provides services which allow employees to maximise the value ...
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Article
AWD Chase de Vere enhances financial awareness product
AWD Chase de Vere has enhanced its financial awareness product by providing UK employers with regional consultants clued up on their benefits packages.Employees can call upon the regional consultants, all of which have been trained on individual company benefits structures, to assist them in engaging their workforce with financial perks.Details ...
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Article
Employee Benefits Awards 2009: Most effective use of financial education in the workplace (Sponsored by JPMorgan INVEST)
WinnerSchlumberger (entered by Clarity)Judges praised the oilfield service provider’s approach to the difficult task of providing financial education to a workforce of 84,000 spread across more than 80 countries. Its education programme targets two main groups – expatriate employees and international commuters who live in their home country but travel ...