Between the 9th and 15th of September is UK Savings Week. In the current environment, it has become difficult for a lot of people to save as much as they would like, in fact, our research of over 2,000 workers found that the biggest financial concerns for the year include not having enough savings for unexpected costs (40%) and not being able to save enough for the future (38%).
In the last year, more than one in five UK employees (22%) have had to borrow money from family and friends because of money worries, and a fifth have taken on debt (20%).
WEALTH at work, a leading financial wellbeing and retirement specialist runs financial education seminars for graduates and those early on in their career for some of the UKs leading companies, to provide guidance on managing their money and explain the many workplace benefits on offer.
According to CIPDs Labour Market Outlook, 21% of employers are planning to make redundancies in the three months to September 2024.
Facing redundancy can be an intimidating time, therefore it is important people are aware of their rights and have a clear overview of their finances.
The number of people in full-time employment who believe they will never be able to afford to retire because of the impact of the rising cost of living is on the rise, with two fifths (39%) of workers claiming they will never be able to afford to stop working, up from one in three (33%) twelve months ago.
We are absolutely delighted to announce that we have been named as one of The Sunday Times Best Places to Work 2024 and are amongst the best ‘Big Organisations in the UK’.
More than 14,000 companies in the UK operate a Save As You Earn (SAYE) share plan, which offers employees a tax efficient way to invest in their company’s shares.
The FCA announced that more over 55s are accessing their pensions, and over half are cashing out their pension pots completely.
According to new research* from WEALTH at work of over 2,000 working adults with a defined contribution workplace pension, nearly half (49%) said they were unaware of what their pension is invested in.