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Pharmaceuticals and generic medicines firm Teva has introduced financial wellbeing and education support for its 1,100 UK and Northern Ireland employees.

Through a partnership with financial wellbeing platform Bippit, Teva employees will have access to a range of support initiatives. These include unlimited access to professional coaches with Financial Conduct Authority-recognised qualifications, which are free at the point of use; personalised money management plans to help them and their households make the most of their salary and total reward package; targeted learning resources, and interactive pensions, protection and budgeting workshops.

Also available to Teva staff is pensions education and information on the potential benefits of salary and bonus sacrifice. Financial experts and coaches will provide free tailored pensions guidance to help them understand if they will have enough in their pension pot for a comfortable retirement, and whether a salary sacrifice scheme would be tax-efficient with their income to maximise their pension savings.

Claire Blomley, senior benefits manager at Teva, said: “At Teva, we’re proud of the great benefits we offer, and we wanted to go further in supporting the financial wellbeing of our employees. We know that mental health is a cornerstone of workplace happiness, and financial wellbeing plays a huge part in that. Introducing financial coaching with Bippit aligns perfectly with our overall wellbeing strategy.

“We encourage all our employees to save for the future and make the most of their pension and salary sacrifice options. We’ve had an amazing response with onsite meetings with our wellbeing ambassadors and HR team, as well as a series of face-to-face and virtual training sessions. I’m excited to hear the stories of how Bippit has helped our employees take control of their financial journey and build a brighter future.”

Sam Lathey, chief executive officer of Bippit, added: “When employees engage with their pensions, everyone wins. Teva’s partnership with Bippit is helping their people save more for their future, while creating opportunities for national insurance savings for the business.”