An employer will make a very generous contribution of 10% to a pension, but only if the employee makes a contribution of 6%. However, some employees are unable to make the 6%.
The DC pension formula (growth stage) is pivoted on the trinity of how long you put money in to it, how much you put in to it and net investment return.
If you can just help your workers save that little bit and take away their financial stop signs, you could take them off the “highway to hell” and help them towards that goal of “livin’ easy, livin’ free” and they will be indebted to you. How do you get there?
In order for any organisation to be successful, it needs a benefit strategy and supporting policies in place that cover the needs of a diverse workforce. It’s been said lots of times before that a one size fits all approach really doesn’t cut it anymore.
You may be considering whether your business should commit spend to a financial wellbeing strategy - can you be certain this will deliver value into the future or will this be a forgotten trend and sunk cost come 2020?
Head of Workplace Health and Wealth at Barnett Waddingham, Damian Stancombe, explains how you can help your employees learn, play and plan for their retirement by using Me2; a digital member engagement portal with a difference.
Let’s get something straight: a pension is not a strategy. We explain why retirement planning strategies should be about more than just pensions, providing practical solutions on how to tackle a looming retirement crisis.
It is a great time to take a deep breath and do our own annual financial health check. The findings of Barnett Waddingham’s fourth annual “Generation WHY?” survey does just this; providing an insight into the financial wellbeing of the UK workforce.
Communications will end up unread in the bin unless they remember what they’re for and provide relevant information targeted to the intended audience, explains Damian Stancombe.
Clocking up nearly two million airmiles in the course of a global career in pensions is impressive enough. David Harris took us on a world tour of pensions and benefits to help inform how the UK should be viewing its own challenges.