Jonathan Watts-Lay, Director, WEALTH at work, discusses why the demand for financial education at work is rising, commenting in Raconteur that “the financial wellbeing agenda has been gathering momentum for a while.”
He adds; “It started during the 2008-09 financial crisis, when employers couldn’t afford to give pay rises but wanted to educate their staff about the value of their employee benefits. The 2015 ‘freedom and choice’ pension policy [which allowed savers to access their pensions flexibly, rather than being forced to buy an annuity] was another catalyst, as employers called in experts to explain the retirement choices to their staff.”
Watts-Lay comments; “There are lots of providers selling all sorts of products in the workplace, but employees need to understand them.”
To read the full article in Raconteur, please click here.