Barclays launches workplace savings product

EXCLUSIVE: Barclays Corporate and Employer Solutions (C&ES) is to launch a workplace savings and financial education product that focuses on the needs of the different generations of employees.

Barclays Beyond Benefits brings together consultancy services, traditional employee benefits, share plans, pensions, financial education and banking services in a single online portal.

It will be delivered through a partnership between Barclays Workplace Banking and Barclays C&ES.

The programme includes:

  • A financial education portal, which contains individual articles supported by tools and videos that provide information on a range of topics, such as day-to-day finances, understanding reward and benefits, family finances and money, love and marriage. It also includes access to a suite of educational seminars tailored to employees across the different generations.
  • Workplace banking, which provides a range of banking products and services tailored to each employer. These include savings, investments and mortgages. The products are supported by the presence of Barclays’ personal bankers and relationship managers who will visit organisations to share information and provide hands-on guidance to employees.
  • Access to pension schemes provided by Aegon and Zurich, as well as access to Barclays’ investment funds. Employers will also have access to an auto-enrolment hub, provided by Benefex.
  • Access to a global shares platform, provided by Solium Capital, which includes share and cash plan administration.

Barclays Beyond Benefits can be accessed online, through mobile phones and tablets, and face-to-face with Barclays’ personal bankers and benefits consultants.

Katharine Photiou (pictured), head of workplace savings at Barclays (C&ES), said: “We’re challenging employers to transform their approach to employee benefits.

“We are going beyond traditional benefits with a one-stop offering designed to meet the needs of all the generations in the workplace. Everything has been built in the context of the multi-generational workforce and the need to align with the needs and priorities of these different generations.

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“We have all the traditional benefits that an employer would expect from a consultancy, but, in addition, we have a focus on the different generations, banking services through the workplace and this financial education component.”

Barclays C&ES wil launch the product at Employee Benefits Live on 25 and 26 September at National Hall, Olympia.