News.

As financial pressures on UK employees continue to grow, new research* shows just over 8 in 10 (83%) employees are concerned that the cost of living crisis will mean they will have to work longer before retiring to make up for a shortfall in savings.

Expecting a baby and planning maternity or parental leave is an exciting time, but it is also important to consider the financial impact that a new arrival can bring. As the cost of living crisis continues, it is now more important than ever that new parents understand how their finances will be affected and what actions they can take.

With increasing costs continually putting pressure on household finances, 2023 is set to be a financially challenging year for many. It’s therefore now more important than ever to support employees to take control of their finances to successfully navigate the cost-of-living crisis.

To help employees manage their money over this expensive time of year, WEALTH at work, a leading financial wellbeing and retirement specialist, has outlined some top money management tips for the festive season.

Inflation in the UK was at a 41 year high in October at 11.1% and is expected to remain high for some time, intensifying the existing cost-of-living crisis.

This October has marked the 10th anniversary of auto enrolment. Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist, answers some key questions on the topic and gives his thoughts on how the cost of living crisis could impact pension savings.

The Reward & Employee Benefits Association (REBA) in association with WEALTH at work has launched its new workplace Financial Wellbeing Research 2022, with responses from nearly 300 companies representing around 1 million employees.

Nearly half of adults (47%) say that money worries affect their life, yet 49% say their employer does not do anything to help them understand their finances.

Half (50%) of 18–34 year olds say the increase in the cost of living has meant that they have reduced or stopped any regular savings.

The Association of British Insurers found an estimated 1.6 million pension pots are sitting unclaimed because they’ve been simply lost or forgotten about.