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WEALTH at work has educated over 8,500 employees in the last 12 months and financial education is set to increase further
2nd August 2010
The survey revealed that 68% of employers provide financial education in relation to retirement planning but only 38% of employers provide generic financial education for all employees. The survey also indicates that many employers (76%) think that the provision of financial education is set to increase. This was agreed upon by 100% of the FTSE 100 surveyed.
Jonathan Watts-Lay, Director at WEALTH at work comments, “The survey revealed that even though currently the majority of employers are only providing education at retirement, a large proportion of companies think this will increase. WEALTH at work is definitely experiencing this new trend. As WEALTH at work celebrates its first year in business since the buyout from JPMorgan – it has educated over 8,500 employees in the last 12 months on all topics ranging from general financial awareness and redundancy to bonus and retirement planning”.
He added, “For example, many employees do not understand many of the complex issues surrounding financial issues in the workplace, whether they are in the board room or on the shop floor. This could include such items as the new recent capital gains tax rates and their effect on company share schemes following the emergency budget. Financial education is imperative to ensure employees take action now to avoid potential tax liabilities and plan for a better financial future”.
Please see the survey results PDF attached.
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