Tesco launches financial education for staff

Tesco has launched a financial education programme for its 280,000 employees.†

The retailer will distribute a guide to personal finance published by the Financial Services Authority (FSA). Just the facts about making the most of your money, to all its UK workforce. The guide is designed to help staff manage their finances and features tips on budgeting, borrowing, protection, saving and planning for retirement.

Hundreds of head office staff have also had hour-long trial briefings, with more planned for staff in distribution centres. Store-based employees are being made aware of the booklet in weekly planning meetings.

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The store has sent out upgraded personalised annual benefits reports to all staff, highlighting their current pension and life cover benefits along with other perks they can sign up to such as free shares and childcare vouchers.

Hayley Tatum, director of personnel, Tesco UK stores and distribution said: “Tesco is undertaking these initiatives because we are very keen to support our people every way we can. Good money management can make a real difference to people’s lives. We are proud to offer an excellent range of benefits to all staff, including a defined benefit pension scheme and a range of sharesave schemes. But we wanted to ensure we are doing all we can to encourage staff to take up all benefits available to them and, by linking with the FSA, to ensure they have access to information about how best to manage their finances.”†