WEALTH at work launch NEW Corporate ISA

In today’s economic climate, helping employees to build their financial resilience and providing them with the knowledge and tools to do so, has never been so important.

Whilst a workplace pension provides a savings vehicle for retirement, many organisations want to put in place a tax efficient savings option for those looking to save in general and build financial resilience. This is where a Corporate ISA can help.

In fact, according to recent research* by The Reward & Employee Benefits Association conducted in association with WEALTH at work, savings via tax-free wrappers such as ISAs are set for significant growth, with almost half of employers offering or planning to offer these over the next two years (45% compared to 32% in 2022).

With this in mind, WEALTH at work has launched a Corporate ISA which has been specifically designed for the workplace. This will provide employees with a convenient, flexible and tax efficient way to invest.

The funds for this service have been expertly chosen by their Investment Management team who carefully select only the funds that adhere to their strict investment principles which are then monitored on an ongoing basis.

Employees can then choose from this selection which includes a variety of risk-rated funds including ethical and faith-based options so that employees can select funds which fit not only with their investment goals but their values too.

Throughout the process of selecting the funds, their useful fund selection tool helps to provide employees with the information they need to understand the key principles of investing whilst also helping them with their selection – enabling them to create their own diversified investment portfolio.

The platform accepts payroll deductions on a regular basis (from as little as £25 per month) or from a lump sum (min £300) such as bonuses by using an open banking facility. Contributions can also be made from maturing SAYE schemes to help protect from capital gains tax and ensure tax free growth.

Jonathan Watts-Lay, Director, WEALTH at work comments; “We are pleased and excited to announce the launch of our new Corporate ISA which has been specifically designed for the workplace. It will enable employees to save in a flexible and tax efficient way, whilst also benefiting from our financial education and investment management expertise. It accepts all types of contributions including payroll deductions, lump sums via open banking and direct share transfers from SAYE schemes, making it convenient and easy for employees to save for their future.”

*The REBA Employee Financial Wellbeing Survey 2023 was carried out online between March and May 2023 and was launched on 26 September 2023. Responses were received from 195 wellbeing, HR and employee benefits specialists working at organisations representing over 1.5 million employees.