News – Page 87
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A constant financial education onslaught may influence success
Rather than making sporadic gestures there can be real merit in providing ongoing financial education in your workplace.Employers may find that instead of providing financial education as and when the need arises, they could find that a continuous programme is more beneficial for the organisation and staff.Angus Jones, managing director ...
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How to manage financial education
Preparing staff for financial schoolingProductivity gains in adding education remitA constant onslaught may influence successForm versus functionShare mechanics of perks Share mechanics of perksBill pensions as need to save so interest is boostedSwitch on to retirement as early as you canAppreciating benefitsLetting staff career aheadSome employers may query why they ...
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Stockmarket turbulence prompts care over pensions
Stockmarket turbulence should prompt employers to that pension schemes' assets and liabilities are well-matched, and to supply financial education.Pension scheme deficit volatility will continue despite an improving trend in funding levels, according to Mercer Human Resource Consulting's latest FTSE 350 Pension Scheme Survey.Although the de-risking of defined benefit pension schemes ...
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Vodafone offers financial support to staff affected by floods
Vodafone is offering one-off interest-free loans of up to £5,000 to employees who have been seriously affected by the recent floods.The mobile phone giant is based in Newbury, Berkshire, which suffered from flooding along with the surrounding areas where a number of its staff live.The short-term loans are intended to ...
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Summit news: Employers split on offering financial education
Employers were split fifty-fifty over whether it is their responsibility to offer financial education or advice to staff in a poll at the Employee Benefits Summit in Jerez.Only 37% of employers at the summit currently offer financial education or advice to employees.Harper Wright, financial capability manager for Bank of America ...
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Financial education - definition - Benefits modellers
Benefits modellers can be provided online to help staff work out how much certain perks will cost.These tools are now available around a number of different benefits. For example, pensions modellers can help staff work out the benefit they could receive if they were to increase their contributions, while flexible ...
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Financial education - definition - Worksite marketing
This is another way of providing staff with access to information about financial products. This is where providers sell their products through the workplace directly to staff. A number do so through voluntary benefits schemes, for which employers pay an annual subscription fee.
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Financial education - definition - Financial advice
This is anything offered in addition to financial education and can only be provided by firms and individuals authorised by the Financial Services Authority (FSA). The cost of providing access to independent financial advisers (IFAs) for staff can vary depending on the number of employees and type of advice chosen, ...
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Coda launches group Sipp
Coda has launched a group self-invested personal pension (Sipp) in order to offer employees greater investment choice.Previously, staff could choose from a range of 100 fund options available through the financial management firm's group personal pension (GPP) plan. The new Sipp, which is due to launch early this month, offers ...
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Towry Law acquires Baker Tilly Financial Services
Towry Law has acquired Baker Tilly Financial Services (BTFS), the financial advisory division of the accountancy firm.BTFS’ 41 wealth advisers will now trade under the Towry Law brand. Towry Law said that BTFS has more than 20,000 high net worth clients and is an ideal fit with its business model.Once ...
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A quarter of workers want employer pension presentations
One in four UK workers are in support of presentations by their employer (26%) or a financial expert (23%) to help them understand their pensions.Overall, 90% of workers believe that pensions need to be made easier to understand, according to the Spring Pensions Survey from B&CE Benefit Schemes. Just 10% ...
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Employee Benefits Thought Leaders: financial education
David Cassidy, chief executive officer at JP Morgan Invest, says that financial education leads to more focused and confident employees who have greater control of their affairs, which in turn positively enhances their professional output.Click to download the Financial Education Whitepaper (0.2 MB)Sponsored by
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Information due on retired staff with benefits
Employers which provide benefits for retired staff have until 7 April to inform HM Revenue & Customs (HMRC) of employees' National Insurance number, the benefits they receive and the value of these perks.Changes introduced in the Finance Act 2004, mean that 2006/07 is the first tax year in which retired ...
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DHL launches pre-retirement planning
DHL Express has launched pre-retirement planning for staff over the age of 64 years.The programme was launched to more than 300 employees last month and provides membership to the not-for-profit organisation HeyDay, which is part of Age Concern. This entitles employees to the organisation's bi-monthly magazine, membership access to its ...
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Brinc hunts new partner after HBOS exits voluntary benefits
Brinc is on the hunt for a new partner following HBOS's decision to close its worksite marketing arm which offers employers voluntary benefits schemes and financial education.The organisation has been providing online portals for bespoke voluntary benefits schemes to clients of HBOS's worksite marketing division and is now looking for ...
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HBOS quits worksite marketing
The worksite marketing arm of HBOS, which includes its financial education and voluntary benefits offerings, has ceased to operate.The provider has made a commitment to its existing clients and will honour voluntary benefits contracts until the end of 2007.It will also fulfil its†financial education contracts up until July this year.The ...
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Government to offer pre-retirement planning
The government plans to offer free generic financial advice helping workers with pre-retirement planning and the decision on whether or not to opt out of personal accounts.It is envisaged that the information will be provided via a national helpline and website and possibly a network of advice centres linked to ...
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Financial education - definitions
Financial education is becoming increasingly important in helping staff to both select and better understand the value of the benefits they are given. Providing financial education for staff around personal financial issues can also help to reduce problems such as stress.Common terms related to financial education in the workplaceBenefits modellersFinancial ...
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BSkyB helps staff manage their cash
BSkyB is piloting a financial education programme designed to help improve financial literacy levels. The scheme from the Financial Services Authority (FSA) will be tested on the 70 members of BSkyB's employee forum to decide whether it is appropriate for the wider workforce. If successful, it will be rolled out ...
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Orange gives staff money help
Orange is embarking on an online financial education programme to help staff better understand the value of their benefits.The first web-based module to be launched will be on the firm's share incentive plan that is available to all staff.Although all details of the share scheme are already available online, Orange ...