Jelf Employee Benefits has launched two financial education services, called Jelf Money at Work and Jelf Money after Work.
The services, which can be offered by employers as one-to-one sessions or group workshops, covers topics such as investment guidance, technical support and lifetime financial education, and are designed to help employees with the entire pension journey through to retirement and beyond.
The employee benefits provider has also launched a new group personal pension (GPP) plan, provided by Scottish Widows, which will give employees access to the pension provider’s Mymoneyworks portal.
The GPP has a single payroll interface and a single log-in to a dedicated microsite for secure ongoing administration.
Its annual management charge will be based on what the contribution levels will be in 2018, when the minimum contribution level increases to, typically, 8% of salary, rather than the starting minimum level under auto-enrolment of just 2%.
Alan Millward, corporate benefits director at Jelf Employee Benefits, said: “Employee engagement is the single most important factor for a pension to be successful.
“Even with auto-enrolment coming, it will be possible for an employee to opt-out or not contribute enough to their pension. Employees must be given genuine support so they can understand the benefit of saving for their retirement.
Lynn Graves, head of business development at Scottish Widows, added: “This new proposition will provide employees with a lifetime of support and information so that they can make informed decisions about the choices they will face throughout the journey of saving for their retirement.”
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