News – Page 69
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Article57% of retail staff feel financial pressures impact their performance at work
Over half (57%) of employee respondents in the retail sector admit that financial pressures affect their ability to perform their job successfully, according to research by Neyber.Its The DNA of financial wellbeing report, which surveyed 1,178 UK employees working in the retail sector, also found that 74% of respondents are ...
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ArticleVictrex uses segmentation to assist financial education
Global high-performance polymer manufacturer Victrex employs around 600 people in the UK in roles ranging from manufacturing to management. When Sally Knill joined as head of reward in 2013, it soon became apparent that a financial education programme was needed. “There was limited appreciation of the benefits on offer,” she ...
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Article48% do not have an employee wellbeing strategy
Almost half (48%) of UK employer respondents do not have an employee wellbeing strategy in place, according to research by Close Brothers Asset Management.Its latest Business barometer, which surveyed 850 UK employers, also found that less than a quarter (23%) of respondents that do have a staff wellbeing strategy in ...
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ArticleEXCLUSIVE: 79% do not expect their organisation will contribute to the lifetime individual savings account
EXCLUSIVE: More than three-quarters (79%) of employer respondents do not expect their organisation will contribute to the new lifetime individual savings account (Lisa), according to the Employee Benefits/Xerox HR Services Benefits research 2016, published in June.The savings vehicle was announced by Chancellor George Osborne in the March 2016 Budget. From ...
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ArticleUniversity of Lincoln wins Employee Benefits Awards 2016 Grand Prix
The University of Lincoln took home the Grand Prix at the Employee Benefits Awards 2016.The organisation was applauded for its trailblazing approach to financial wellbeing and its efforts to support staff and student employees through a programme described as groundbreaking.The University of Lincoln (pictured) also won the award for Best ...
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Article67% believe employers do not care about financial wellness
More than two-thirds (67%) of respondents believe that their employer does not care about their financial wellness, according to research by Neyber.Its DNA of financial wellbeing report, which surveyed 10,000 UK employees, also found that more than half (55%) of respondents feel that financial pressure affects their behaviour and ability ...
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Article63% view financial wellness as an employer’s responsibility
Almost two-thirds (63%) of respondents view employees’ financial wellness as an employer's responsibility, according to research by mobile employee engagement platform LifeWorks.Its survey of 400 US-based HR professionals also found that 37% of respondents feel that executive leaders within their organisation are addressing financial wellness.The research also found:88% of respondents ...
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ArticleWealth at Work acquires Affinity
Financial education provider Wealth at Work has acquired the Affinity group.Founded in 2004, Affinity (The Farleigh Group) is a Bristol-based national provider of financial education and advice, working with over 200 employers who mainly operate in the public sector for local authorities.With this third strategic acquisition, Wealth at Work aims ...
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ArticleEXCLUSIVE: 76% of Oxford BioMedica staff engage with pensions online after benefits revamp
EXCLUSIVE: More than three-quarters (76%) of Oxford BioMedica employees have registered to view their pension online following a revamp of its employee benefits programme.In September 2015, the gene and cell therapy organisation, which employs more than 180 staff, expanded its pension and financial education support offering with the introduction of ...
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ArticleBT, Oracle and University of Lincoln shortlisted for best financial education
BT (pictured), Henderson Global Investors, Oracle and the University of Lincoln are among the organisations shortlisted for the Best financial education strategy award at the Employee Benefits Awards 2016.This award, sponsored by Wealth at Work, celebrates the most effective use of financial education and workplace savings within an organisation.The full ...
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ArticleGovernment to legislate for increased master trust protections
The government is to introduce additional measures to protect members of master trust pension schemes through a new Pensions Bill.The Pensions Bill was unveiled in background briefing documents following the Queen’s Speech in the Houses of Parliament yesterday (18 May).Under the proposals, master trusts would be required to demonstrate that ...
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Article40% feel let down by lack of access to financial advice
Four in ten (40%) respondents feel let down if their employer fails to support them with access to advice on their pensions and future finances, according to research by online pension advice provider Wealth Wizards.Its survey of 1,000 UK employees also found that two-thirds (67%) of respondents believe it is ...
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Article38% likely to consider including lifetime Isa in remuneration package
More than a third (38%) of respondents are likely to consider introducing the new lifetime individual savings account (Isa) into their employee remuneration scheme in the future, according to research by law firm Sackers.The survey of 78 employers, trustees and advisors also found that 84% of respondents want to offer ...
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33 Benefex industry insight: The psychology behind financial wellbeing
It has been suggested that economics is a branch of psychology. So it stands to reason that an individual’s attitude to financial wellbeing is rooted firmly in their mindset.In 2002 I graduated with a degree in psychology. Although useful at times, never has it become more vital to my work ...
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ArticleLouise's lowdown: Will the Lifetime Isa encourage or distract from pension saving?
On 16 March Chancellor George Osborne delivered his Budget 2016 speech to Parliament. A storm of speculation around pensions tax relief had raged for months before beginning to subside in early March, when word spread that this Budget would not, as many had expected, herald in further radical reform to ...
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Article16% refer staff to Pension Wise
Less than one-fifth (16%) of employer respondents are referring their employees to the Pension Wise service, compared to 20% in October 2015, according to research by Close Brothers Asset Management.The latest Close Brothers business barometer, which surveyed 917 employers, also found that more than a third (36%) of respondents offer ...
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Article71% of millennials do not understand their pension investments
More than two-thirds (71%) of millennial respondents do not understand or are unsure about their pension investments, according to research by Barnett Waddingham.Its Generation why? survey 2016, which surveyed 506 employees, also found that 72% of generation X respondents (aged 30-49) do not feel certain about their understanding of pensions ...
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ArticlePensions advice allowances to be extended
Budget 2016: The £150 limit on income tax and national insurance (NI) relief on employer-arranged pensions advice is to be extended to £500.In its Budget 2016 documentation, the government also confirmed that it is to consult on the introduction of a pensions advice allowance. This would allow pension scheme members ...
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ArticleGovernment to restructure financial guidance providers
Budget 2016: The government is to restructure the Money Advice Service, The Pensions Advisory Service and Pension Wise into two new guidance bodies.The move, which was detailed in the Budget 2016 documentation, is intended to ensure that consumers can access the help they need to make effective financial decisions.The new ...
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Article77% do not feel in control of their pension savings
More than three-quarters (77%) of respondents do not feel in control of their pension savings, according to research by Hymans Robertson.Its Putting your workforce back in control of pensions report, which is based on a survey of 102 HR and benefits professionals, 2000 pension savers, focus groups, and individuals saving ...