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One in six (17%) has made further ‘savings’ by cutting back (or cancelling) their personal insurance cover, such as income protection, life insurance, and medical or dental insurance, and one in seven (14%) has reduced their pension contributions – decisions which may prove to have costly consequences in the future.
Financial education and planning resources : Providing financial education and planning resources can help employees make better financial decisions and reduce stress related to personal finances. Some employers offer financial planning services or seminars on topics such as budgeting, investing, and retirement planning.
Based in Greater Manchester and with 3,000 employees, the university was a runner up in the Best financial wellbeing strategy at this year’s Employee Benefits Awards. We have highlighted our death-in-service benefit through in-person sessions as well as including a message about it on pay slips, as everyone will look at these.”
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