All Financial wellbeing articles – Page 141
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Article
Michelin offers retirement seminars
Michelin, the tyre manufacturer, has launched seminars for its employees approaching retirement.The company, which has a significant number of staff in the 50 plus age group, is offering the seminars to help recognise the contribution they have made to the business.Employees nearing retirement age and their partners will be invited ...
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Article
Financial education is crucial to pensions crisis
Offering financial education in the workplace could have a significant impact on solving the pensions crisis - according to a study by Close Wealth Management.The survey of more than 300 senior managers in companies with a turnover of more than £1m found that 53% of employers provided financial education schemes ...
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Article
JPMorgan assists retiring staff
JPMorgan is offering financial education to its employees to help them prepare for retirement and the new pensions tax simplification legislation.The offer to attend seminars has gone out to around 750 employees over the age of 50 years and those who are nearing the new £1.5m lifetime allowance, which will ...
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OpinionGuest opinion: The importance of financial advice
Recognising that employees are different, and creating a package which contains at least one thing to appeal to everyone, is a key role for the reward function. Today’s employees are often offered a wide choice of benefits. Typically, these include: pension schemes, share schemes such as sharesave, share incentive and ...
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Article
Staff may be gravely underestimating savings
Organisations are failing to communicate pensions effectively to staff as one-in-four employees claim not to know what type of pension scheme they belong to. This is according to a JP Morgan report Working in the dark which also revealed that many employees in defined contribution schemes (DC) are unaware of ...
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Article
Older staff must rethink retirement date
After A-Day, retiring employees will no longer be forced to take income, such as an annuity or drawdown, at the same time as getting access to a cash lump sum.Responsible employers may want to inform retiring employees of this fact so that they can work out whether it will be ...
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Article
Amlin runs pre-retirement workshops
Amlin, the insurance and reinsurance firm, has run its first round of pre-retirement workshops since switching to a stakeholder pension scheme.The workshops, which were run last month by Winterthur Life, are part of an ongoing communication strategy to empower Amlin's 500 pension scheme members.The contract-based Amlin Retirement Investment Scheme was ...
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Analysis
Employer debt assistance
Debt has become a way of life in Britain, with consumers over one trillion pounds in the red. Jenny Keefe says when carefully handled, employers can steer staff back on track and help get them performing againCase Study: John LewisArticle in full"Neither a borrower, nor a lender be," counsels Polonius ...
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Article
Nationwide raises working age
Nationwide Building Society has introduced a new policy allowing staff to continue working until the age of 75. The company increased this after surveying customer satisfaction relating to its older workers. The move follows a policy of flexible retirement introduced in 2001 allowing staff to work until age 70.
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Article
Shoosmiths launches mortgage advice plan
Shoosmiths has introduced a mortgage advice plan to help graduates buy their first place and also cut the price of existing contracts.And the law firm has already seen a rush of enquiries from staff that want to escape bad deals. It launched the scheme last month, which allows employees to ...
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Analysis
How are benefits providers communicating with staff?
The service provided alongside a benefit is crucial to the way it is perceived and lately, providers have developed all means of communicating with staff. It is important to understand what forms of communication staff want, says Sam BarrettCase study: Eli LillyDirectory of benefits suppliersArticle in fullWhether a benefit is ...
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Article
P&MM launches debt advice plan
Performance & Motivation Management (P&MM) hopes to help tackle the trillion-pound consumer debt burden by providing a new financial advice service. Richard Davies, business development director at P&MM, said Lifestyle Financial Health will give employees financial advice and practical help with their money: "[We are] growing [more] indebted as a ...
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Article
Sainsbury's gives all staff IFA access
Sainsbury's has launched a new financial advice service for employees. Previously, only senior managers at the supermarket chain could get help to manage their money, but all 150,000 employees can use the new service. Staff can access the scheme, provided by IFA firm Towry Law, either by telephone or online.
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Article
National Association of Head Teachers get IFA access
The National Association of Head Teachers has brought in a new financial advice service to help school bosses manage their pensions. The organisation also hopes that the scheme will help it to attract new members. John Randall, commercial development manager, said: "We are promoting it because we want to ensure ...
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Article
Citigroup gives staff ethics hotline
Citigroup is offering employees the chance to call an ethics hotline so that staff can help prevent any regulatory or legal problems in the future. Chuck Prince, chief executive of the financial services firm, said he hoped to change the culture of the company following incidences such as the closure ...
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Analysis
Choosing your helpers for flex
Implementing flex demands input from different departments. A feasibility study can create a business case and a consensus is crucial, says Matthew StibbeCase Studies: Craegmoor Healthcare, Aon Insurance Group.Article in fullThe job of implementing flexible benefits cuts across boundaries within organisations, demanding input from different departments and, in many cases, ...
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Analysis
What financial advice can employers give?
In summaryA fear of breaching Financial Services Authority (FSA) regulations means employers traditionally shy away from giving staff financial advice. While only authorised firms and individuals are allowed to advise on financial services products, however, employers can provide access to financial advice. In some cases, they may even be able ...
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Analysis
Financial education for share schemes
Article in fullTiming, accessibility and presentation. These are the watchwords to providing financial advice for a successful share scheme, although getting the mix right to ensure a high take-up is far from easy. While staff at the top will know they are on to a good thing, those on lower ...
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Analysis
The benefits of providing financial advice for staff
Article in fullIt is almost impossible to turn on the television or open a newspaper without seeing some mention of consumer debt escalating out of control, a looming pensions crisis or potential crash in the housing market. Even the government has begun to intervene - through the creation of bodies ...
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Analysis
Financial Advice Supplement 2003: Interview - IFA action must be lent to staff debt
In 2001 a report on financial advice in the workplace was published by the Banham Inquiry. In case you missed it among all the raft of reports published in the past year telling us how we can run pensions and other financial products better, this one said that employers are ...