Realising company benefits.

24th June 2015

Jonathan Watts-Lay, Director, WEALTH at work – a leading provider of financial education, guidance and advice in the workplace features in June’s edition of WSB magazine in an article titled ‘Saving the Day’.

The article considers savings tools available in the workplace and how they can help employees manage their finances. On the topic of corporate ISAs Watts-Lay comments, “These are a lot lower-profile now than people thought they would be three or four years ago. The only exception to that is where they relate to company share schemes.”

Many providers have now moved out of this space altogether, largely because employees can generally get better deals by shopping around on the internet. “With an equity ISA, this wouldn’t be the case because employers should be able to negotiate deals with fund managers in the same way as they would with their pension, but I could never understand the economics of a corporate cash ISA” adds Watts-Lay.

Workplace education has a big role to play in supporting financial well-being says Watts-Lay, who points out it can help employees realise how employee benefits such as discount cards or salary sacrifice can save money. He comments, “All of a sudden you get ‘wow’ moments. Some people may have been working there for five or ten years with the same benefits, and yet they’ve never actually understood what they can achieve.”

Further coverage can be found in WSB.