Media firm Informa has developed a three-tiered workplace savings strategy to cater for its diverse, 3,200-strong UK workforce.
Media firm Informa has developed a three-tiered workplace savings strategy to cater for its diverse, 3,200-strong UK workforce.
The strategy is divided into short-, medium- and long-term savings options.
The short-term savings vehicle is a stocks and shares individual savings account (Isa), which will be introduced in April 2012. Informa had planned to introduce a corporate Isa with its pension provider Friends Life in April 2011, but it decided the stocks and shares Isa was a better option for staff.
The medium-term savings strategy is a renewed focus on the company’s sharesave scheme, Informa Invest, which had sat with the company secretary’s department but is now part of the employee benefits portfolio, accessible through the online flexible benefits portal.
The long-term savings vehicle is the firm’s group personal pension (GPP) plan, which has been in place since January 2000.
Thomas Humphris, head office HR and UK reward director at Informa, said: “We have to make sure we are not taking a one-size-fits-all approach to financial planning and saving. The rationale behind this structure is to help employees think about financial planning in a more proactive way and help them identify with the consequences associated with each method.
“We have a young workforce and a priority of people in their 30s may not be a pension. It will be paying off student debt or saving for a house or wedding.
“We want employees to understand there are different ways to plan for their future.”
Communications will be based on financial education this summer.
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