Employers are underestimating employees’ need for financial support during the cost of living crisis, new research has found.
In the UK, the average worker has £28,000 in stranded pension pots, according to new research from wealth manager Netwealth.
Only 3% of senior HR professionals worry about money every day, compared to almost a quarter (22%) of UK employees, according to financial wellbeing service Bippit.
Pensions have been in the news a lot but do employees understand them? If not, how can employers step in? Dan Cave reports.
Asda’s new financial wellbeing policies will allow employees to access part of their wages early and monitor their earnings throughout the month.
Just a third (34%) of women have considered the impact reducing working hours could have on their pension contributions, compared to 62% of men according to research from think tank Phoenix Insights.
With soaring energy costs and high inflation making headlines in 2022, employees’ finances have never been so tight, and this is having a direct impact on employee wellbeing. T