News – Page 83
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Case study: BT transmits a model approach to financial education
BT offers a voluntary programme of financial education for employees aged over 50 to help them begin planning for retirement. This includes seminars, offered in conjunction with provider Wealth at Work, as well as BT’s own online pensions modelling tool.Dennis Gissing, head of people practices at BT, says: “We have ...
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Case study: Financial education workshops pay off for BGL Group staff
Insurance broker the BGL Group has added a financial education programme to the range of benefits it offers its 2,100 employees.Lucy Painter, associate director for shared services group HR at the company, says: “We already run pension seminars and one-to-one sessions with our pensions consultant, AWD Chase de Vere, as ...
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Mercer adds financial education to its workplace savings product
Mercer has partnered with Life Academy to offer financial education seminars for employees approaching retirement. The seminars have been added to Mercer's workplace savings product.The seminars will help employees plan and manage their finances for retirement, including their pensions benefits, savings and investments. Tax and estate planning, and buying an ...
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Standard Life research: Employers feel responsible for employees’ financial security
Eight in ten (80%) employers feel responsible for their employees’ financial security, with nearly a quarter (22%) feeling primarily responsible.†According to Standard Life’s Insights into Financial Responsibility (IFR) report, 65% of employers believe employee communication has improved over the past five years. However, almost the same number of employees (64%) ...
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Scottish Widows launches corporate Isa
Scottish Widows has launched a corporate individual savings account (Isa) on its workplace savings platform, Mymoneyworks, to increase choice and flexibility for employees looking for additional savings vehicles.The corporate Isa consists of a self-select stocks and shares Isa, and self-select funds Isa, both provided by Halifax Share Dealing, part of ...
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Mercer to launch corporate wrap product
Mercer is to launch a corporate wrap product called Mercer Workplace Savings Solution.The platform will be launched in partnership with Friends Provident, Standard Life and Zurich, each of which is developing its own corporate wrap platform. Mercer's system will guide users through the options and provider best suited to their ...
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Equiniti launches online financial education campaign
Equiniti has launched an online financial education campaign that features a cartoon operetta to help the 18 million UK shareholders it serves understand complex financial topics.Its The Big Picture; Hens and Equities operetta will feature a series of short clips with the first covering inflation. Featuring singing chickens, the clip ...
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Debi O'Donovan, editor of Employee Benefits: Here's some free advice: give us value for money
?Listening to many financial advisers, you would think the introduction of the Retail Distribution Review in 2013 will adversely affect employee savings as they lose access to ‘free’ advice.I heartily disagree. It will bring transparency to the charging structure of financial products and dispel the myth that the advice is ...
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Employers fail to meet staff expectations on retirement planning
Just 30% of employees believe their employer is doing a good job in helping them plan for retirement and a growing proportion expect financial services-style technology to manage workplace benefits.Out of the 1,000 employees who responded to Mercer's Employee rewards, benefits and savings survey, 86% said they would like to ...
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The Open University launches financial education course
The Open University is offering a course to help employers provide staff with financial education and encourage them to take better control of their finances.Its ‘You and your money’ course, which covers a range of financial issues including income, expenditure, budgeting and debt, aims to give employees a better understanding ...
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Legal and General launches two new financial education modules
Legal and General has launched two more interactive modules to help employees gain a better understanding of their finances.As part of its workplace saving platform, WorkSave, Legal and General has released two new true-to-life scenarios featuring the fictional Cash family to help employees manage money and find financial help.The scenarios ...
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Pensions salary sacrifice tops list of valued benefits for UK staff
Over half (56%) of UK employees would sacrifice pay for a higher pension contribution by their employer, according to Aon Hewitt.Its European Employee Benefits Benchmark, which surveyed more than 7,500 employees in Belgium, Denmark, France, Germany, Ireland, the Netherlands, Norway, Spain, Switzerland and the UK, focuses on topics such as ...
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Employers believe staff are responsible for own financial education
The majority of employers (83%) believe it is the individual’s responsibility to educate themselves about financial matters, according to a new report from the Pensions Management Institute (PMI) and Standard Life.The DC Pulse research also found that just 34% of employers reported a take-up rate of more than 80% in ...
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Toyota Tsusho to educate staff on pension changes
Toyota Tsusho UK is to introduce financial education sessions to show its employees how their pension is performing after introducing a new pension scheme and switching providers.The resources trading firm introduced a group personal pension (GPP) plan, provided by Aegon, in June after closing its previous defined contribution (DC) scheme ...
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CSC implements corporate wealth platform for staff
CSC, the software application firm, has launched a corporate wealth platform to its 7,000 staff.The platform, which was also developed by CSC for Scottish Widows, provides employees with financial education, guidance and interactive tools to help them identify their financial planning needs.The platform, called Mymoneyworks, offers a range of savings ...
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The Institute of Mechanical Engineers introduces financial advice service
The Institution of Mechanical Engineers has introduced a financial advice service for its 150 staff and 90,000 members.The service, launched last month in conjunction with AWD Chase de Vere, will include seminars and discussion groups, addressing topics such as retirement planning and savings and investments. There are also plans to ...
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Financial education needed earlier
Some 84% of employers provide financial education, access to financial advice, or both, to support staff when they reach retirement, but just 38% offer education on more general topics.However, Wealth at Work’s report Is the financial wellbeing of your employees important? shows 76% of employers think this is likely to ...
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Buyer's guide to financial education (July 2010)
Financial education has probably never been more relevant to employees, and organisations can tailor it to the needs of their workforce in various ways, explains Ben JonesIn an age when those we entrusted with our money fouled the whole business up so spectacularly, one might be forgiven for asking: if ...
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Axa research: Financial worries prompt stress related absence
A high proportion of UK employees suffer physical and mental stress over financial worries, according to a new report from Axa.The Money sickness syndrome report found that as many as nine out of ten adults suffer symptoms arising from stress, one of the most common causes of workplace absence.The study ...
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Employee Benefits Awards 2010: Most effective use of financial education in the workplace (Sponsored by Wealth at Work)
WinnerCapital One (entered by Secondsight)Although this entrant focused purely on educating staff on pensions rather than broader financial matters, its phenomenal results won it this category.The financial firm's largely young, call centre-based workforce had a poor knowledge of pensions, so Capital One set out two key objectives: to educate employees ...