43% working-age people (equivalent to 14.6 million) are under-saving for retirement, according to a recent report by the Department for Work and Pensions. In addition, research from WEALTH at work found that in the last year, almost a quarter of UK employees (23%) have had to borrow money from family and friends because of money worries, and almost a fifth have taken on debt (18%).
Many companies in the UK operate a Save As You Earn (SAYE) share plan often known as Sharesave, which provides employees with a tax efficient way to invest in their company’s shares.
Share plans play an integral part in any reward and benefits strategy. They are designed to encourage longer term saving which can result in greater financial wellbeing. Jonathan Watts-Lay, Director, WEALTH at work answers some questions on the key things to understand if your workplace offers share plans.
The journey to retirement, once a relatively straightforward path, has become increasingly complex, particularly since the advent of pension freedoms in 2015. While these freedoms offer unprecedented flexibility, they also introduce challenges, especially concerning how individuals manage their accumulated savings at the point of retirement.
The number of working people who believe they will never be able to afford to retire is on the rise according to research by WEALTH at work.
We are absolutely delighted to announce that we have been named as one of The Sunday Times Best Places to Work 2025 and are proud to have been listed amongst the best ‘Big Organisations in the UK’. This is the second time WEALTH at work have won this award, having also won it in 2024.
We are absolutely delighted to announce that we have been named as one of The Sunday Times Best Places to Work 2025 and are proud to have been listed amongst the best ‘Big Organisations in the UK’.
Almost a quarter of UK workers (23%) have had to borrow money from family and friends in the last year because of money worries, and almost a fifth have taken on debt (18%). It seems financial worries have become the new normal. With almost 14.6 million UK adults not coping financially or finding it difficult to cope, many are looking for ways to help ease the strain on their finances.
Money worries are having a detrimental impact on the workplace with our latest research finding that 40% of employees believe that it affects work performance by causing increased stress levels. One in ten (10%) say it has led to increased sick days.