With the cost of living crisis, there’s never been a better time to help your people improve their finances. MyEva is a digital financial expert for all employees, whatever their salary level. MyEva initially takes employees through an automated, easy-to-complete financial health check, asking non-intrusive questions that help to build an overview of their current financial wellbeing.
Once complete, employees are presented with a health check score and a personalised dashboard highlighting areas of strength, as well as opportunities for improvement. Employees are then directed to financial topics relevant to them, with bite-sized tasks to complete, helping them to get more from their finances, such as increasing savings, reducing debt and saving for retirement.
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A retirement lifestyle tool, based on the Pension and Lifetime Saving Association’s (PLSA) Retirement Living Standards, enables employees to explore the kind of lifestyle they’d like in retirement and suggests the monthly contributions required to meet their goals. Employees can return to MyEva at any point to review and update their circumstances, which then automatically updates their financial wellbeing score.
As well as automated financial guidance, MyEva offers FCA regulated financial advice on pension contributions and employees can adjust their workplace pension scheme contributions via the application. There is also the option to speak to a human financial adviser for regulated financial advice, should employees require more help or support with their financial affairs.