All Financial wellbeing articles – Page 137
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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 ...
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Analysis
Spell out perks
In the fast-moving world of benefits, misconceptions have arisen around the definition of some perks, which require clarification, says David WoodsWhen people communicate, it is not just about the words that they use that helps others to understand their meaning. More than half (55%) of what an individual means to ...
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Ernst & Young offers financial education
Ernst & Young has invited all its UK employees who are part of its defined contribution (DC) arrangement to attend financial education workshops in May.There will be two workshops, with one short session that will look at the mechanics of the firm's DC scheme and a longer, half-day session that ...
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NAPF Investment Conference: Employers with DC pensions told to limit fund choice
Employers with defined contribution (DC) schemes have been told to limit fund choices to a small number and to provide effective financial education to help employees get to grips with their necessary investment decisions.Alistair Byrne, senior lecturer in finance at the University of Edinburgh, told delegates at the National Association ...
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Free financial advice service unveiled
The blueprint for a national free financial advice service has been set out in the final report of the Thoresen Review of Generic Financial Advice, published today.This includes an emphasis on the workplace as an avenue for delivering financial advice.The report recommends that a national money guidance service is put ...
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Scottish and Southern Energy implements financial education
Scottish and Southern Energy has held a month-long programme of financial education to help staff get up to speed with their personal finances.Workshops were organised in one-day stints across key locations in the UK, including power stations and call centres, with up to four sessions a day taking place at ...
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Face up to the provision of multi-site financial education
To limit inconvenience to its workers GlaxoSmithKline looks to provide financial education at all its sites, with a wide range of face-to-face programmesProviding financial education in the workplace can be challenging if you have a large and diverse workforce with differing employee needs that is based across multiple sites, or ...
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Schooling pays dividends
3873This article is brought to you by our sponsor JPMorgan Invest.Jonathan Watts-Lay, director at JPMorgan INVEST, says that without financial education there is a good chance that employees will miss out on a whole host of money saving opportunitiesThere has been much media interest over closures of defined benefit (DB) ...
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Best Practice from Thought Leaders: financial education
Jonathan Watts-Lay, director at JPMorgan INVEST, says that without financial education there is a good chance that employees will miss out on a whole host of money saving opportunitiesClick to download the Financial Education Whitepaper (115 KB)Sponsored by