All Financial wellbeing articles – Page 139
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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 ...
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Article
A quarter of workers want employer pension presentations
One in four UK workers are in support of presentations by their employer (26%) or a financial expert (23%) to help them understand their pensions.Overall, 90% of workers believe that pensions need to be made easier to understand, according to the Spring Pensions Survey from B&CE Benefit Schemes. Just 10% ...
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Analysis
Financial education powers staff
This article is brought to you by JPMorgan Invest.David Cassidy, chief executive officer at JP Morgan Invest, says that financial education leads to more focused and confident employees who have greater control of their affairs, which in turn positively enhances their professional outputWhile companies are under no compulsion to do ...
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Analysis
Face up to it, group financial education sessions don't disappoint
Written material or an intranet will for the most part not suffice as financial education, staff often need to talk and ask questions, and face-to-face education - not advice - in group sessions can often be effective, says Harper Wright, financial education service manager, MBNANo business is an island. Yes, ...
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Article
Towry Law acquires Baker Tilly Financial Services
Towry Law has acquired Baker Tilly Financial Services (BTFS), the financial advisory division of the accountancy firm.BTFS’ 41 wealth advisers will now trade under the Towry Law brand. Towry Law said that BTFS has more than 20,000 high net worth clients and is an ideal fit with its business model.Once ...
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Analysis
Government plans financial education service
Government intentions to design a national financial education service could impact on workplace schemes.Plans by the government for a national financial education service could help employees understand their pensions and plan for retirement.A team, led by Otto Thoreson, chief executive officer of Aegon UK, has been charged with researching and ...
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Article
DHL launches pre-retirement planning
DHL Express has launched pre-retirement planning for staff over the age of 64 years.The programme was launched to more than 300 employees last month and provides membership to the not-for-profit organisation HeyDay, which is part of Age Concern. This entitles employees to the organisation's bi-monthly magazine, membership access to its ...
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Article
Employee Benefits Thought Leaders: financial education
David Cassidy, chief executive officer at JP Morgan Invest, says that financial education leads to more focused and confident employees who have greater control of their affairs, which in turn positively enhances their professional output.Click to download the Financial Education Whitepaper (0.2 MB)Sponsored by
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Article
Information due on retired staff with benefits
Employers which provide benefits for retired staff have until 7 April to inform HM Revenue & Customs (HMRC) of employees' National Insurance number, the benefits they receive and the value of these perks.Changes introduced in the Finance Act 2004, mean that 2006/07 is the first tax year in which retired ...