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Workplace savings
11th September 2012
Jonathan Watts-Lay, Director, WEALTH at work comments on the importance of financial education in the latest issue of Employee Benefits. Watts-Lay comments “If companies offer benefits provision, whatever it is, they should ensure employees really understand and get value, otherwise what’s the point?”
“There is value to be had in the workplace that even employers don’t understand. For example, an individual may be saving £500 a year by getting tax relief on childcare, but in the workplace they could take the £500 and get more value in, say, a pension scheme where the employer matches their contributions.”
Similarly, he says, save-as-you-earn scheme profits can be transferred to an individual savings account (Isa) to save on tax – which a comprehensive financial education programme can help to explain.
Please see Employee Benefits to learn more.
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