All Financial wellbeing articles – Page 97
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OpinionRosemary Lemon: Does ROI have to be monetary for financial wellbeing strategies?
Launching a new benefit is like making any other business proposal: there has to be a return on investment (ROI). A successful benefit, therefore, has to be valued by employees and make them feel more positively engaged with their organisation.This is especially true in the case of financial benefits. Financial ...
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AnalysisWhat are the latest trends and developments in financial education?
Need to know:Financial education is being increasingly influenced by machine learning, which predicts what education employees need based on previous choices.More employers are looking to support financial education programmes with regulated financial advice, although financial coaching could be a more affordable alternative.Digital communications and tools are being used to signpost ...
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Case StudiesAspen Insurance uses online financial education to prepare staff for new financial benefits
Global organisation Aspen Insurance launched an online financial education programme for its 700 UK employees in May 2018, to help equip staff to make relevant financial decisions prior to the implementation of new financial flexible benefits in June 2018.The programme, provided by Nudge, allows employees access to a personalised online ...
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ArticleKavitha Sivasubramaniam: Championing financial wellbeing at work
As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.Many employers recognise that financial stress can have a significant impact on an individual’s mental and ...
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OpinionJonathan Watts-Lay: Ensuring the savings effort pays off
Nearly half (46%) of all UK adults rate their own knowledge about financial matters as low and almost a quarter (24%) have little or no confidence in managing their money, according to the Financial Conduct Authority's Understanding the financial lives of UK adults report, published in October 2017.The impact of ...
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OpinionCharles Cotton: HR professionals have a crucial role in championing financial wellness
Research by the Chartered Institute of Personnel and Development (CIPD), sponsored by Close Brothers and released in January 2017, found that one in four employees admit that money worries have affected their performance at work. Based on a survey of more than 1,800 respondents, the results showed that while younger ...
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ArticleFCA and TPR launch joint strategy to tackle 'fundamental' pensions challenges
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have launched a joint regulatory strategy, identifying issues contributing to inadequate saving for retirement and outlining priorities for addressing fundamental challenges in the pensions sector.The joint strategy sets out how the FCA and TPR will work in tandem in the ...
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ArticlePositive, personal language is best for pension communications
A study by investment management organisation Invesco into the language of defined contribution (DC) pension schemes has identified four key language principles for communicating with employees about their pensions.Research for the report, ReDefined contribution schemes, published on 18 October 2018, included interviews with heads of pension schemes, focus groups and ...
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Supplier articleNew figures show individuals pay almost 20 times more in tax for breaching the Lifetime Allowance
- Nearly 2,000% more than ten years ago when the allowance was introduced HM Revenue & Customs has released new figures* showing that the tax collected from individuals breaching the Lifetime Allowance (LTA) has rocketed by £97m since it was introduced in 2006, with the latest figures showing that ...
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ArticleTaking an overseas job adds an average of $21,000 to a worker's salary
The average individual taking an overseas job adds $21,000 (£15,995.70) to their annual salary when they move, according to research commissioned by HSBC Expat.The survey of 22,318 expatriates from 163 countries and territories, carried out by YouGov in March and April 2018, revealed that 45% of respondents were receiving more ...
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ArticleNASUWT staff begin series of one-day strikes over pay and pensions
Image credit: GMBAround 140 employees of the NASUWT teaching union are staging a series of three one-day strikes over pay and changes to pensions.The industrial action, which starts today, is being taken by members of the GMB union, with further strikes planned for 5 November and 9 November.GMB regional organiser ...
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ArticleEXCLUSIVE: 53% favour employers that positively contribute to their wellbeing
EXCLUSIVE: More than half (53%) of respondents favour employers that positively contribute to their wellbeing, even if it means they earn less money, according to research by actuarial firm Hymans Robertson and lifestyle insurance organisation Yulife.The Closing the wellbeing gap: exploring the interaction between work, health and wellbeing report, which ...
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Supplier articleFinancial Wellbeing – An Employer Point of View July 2018
Aon has recently conducted a study of multinational organizations into how employers are responding to the emerging trend of Financial Wellbeing. The study involved complete responses from 159 different multinationals and the results were presented back via a series of web events. Download the slides here » ...
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Supplier article
The LISA should stay
By Jonathan Watts-Lay, Director, WEALTH at workThe LISA (Lifetime ISA) at present is quite complex as it is trying to do too many things – help with a first house purchase whilst at the same time be a potential savings vehicle for retirement. Instead of ditching the LISA completely, thought ...
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ArticleTPR fines Salvus trustees £5,000 over non-investment of £1.4m in pension contributions
Four trustees of Salvus Master Trust have been fined a total of £5,000 by The Pensions Regulator (TPR) for failing to promptly invest members’ savings for three years.A master trust is an occupational pension scheme that provides money purchase benefits for multiple, unconnected employers. The trustees were in breach of ...
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ArticleEXCLUSIVE: JLT Group launches holistic wellbeing programme for UK employees
EXCLUSIVE: Benefits provider JLT Group has launched a wellness programme focusing on the mental, physical and financial wellbeing of its 3,900 employees in the UK.The programme includes the implementation of mental health first aiders across all 19 offices nationwide, accompanied by mental health and stress awareness training for line managers.The ...
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ArticleEXCLUSIVE: ACCA launches mental health resilience workshops for wellbeing champions
EXCLUSIVE: Global professional accountancy body ACCA has launched pilot mental health resilience workshops for selected staff in London and Glasgow.The workshops, the first of which took place on 19 September 2018, offer advice on the mental and physical steps employees can take to promote wellbeing in the workplace. They are ...
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ArticleCourt of Appeal hearing set for Asda shop-floor workers' pay claim rulings
A Court of Appeal hearing will begin on 10 October over Employment Tribunal (ET) and Employment Appeal Tribunal (EAT) pay claim rulings that Asda shop-floor workers have comparable roles to their colleagues in the supermarket’s distribution centres.The three-day hearing concerns the first of three stages in the equal pay case. ...
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ArticleLippert Components fined $338,151 for overtime pay violations
Indiana-based vehicle parts manufacturing organisation Lippert Components has been ordered to pay $338,151 (£258,959.42) in overtime back pay and liquidated damages following an investigation by the US Department of Labor’s Wage and Hour Division (WHD).Investigators uncovered violations of the Fair Labor Standards Act (FLSA) relating to 1,199 current and former ...
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ArticleTwo-thirds of managers put organisation above staff wellbeing
Although 61% of employees have experienced a mental health issue due to work, or in which work was a contributing factor, 64% of managers put their organisation’s interests above staff wellbeing at some point, and 12% do so every day, according to a workplace mental health report by Business in ...