Many employees are struggling with their finances: they face increasing personal debt, demanding financial commitments, and a limited ability to save for the future. Almost half of all employees worry that they will be unable to retire, given the state of their finances, and one in three loses sleep because of this. Employers can remove stress and anxiety by helping their people get to grip with their finances.
Group Income Protection is also know staff sick pay insurance, employee income protection or business long term disability cover.It is provided so that should an employee be unable to work due to a sickness or injury then the policy would pay a monthly amount for the staff member covered under the policy.
Group Life Insurance provides a lump sum payment to your employee’s family, should the worst-case scenario become a reality.In the unlikely but heartbreaking event of an employee’s death, their next of kin will receive the full amount that is chosen at the start of the insurance contract.This amount will depend on a variety of factors, common ones being length of service and seniority.
Earned income companies provide employees with a way to access income that's already been earned, but hasn't been paid by virtue of payroll cycles. By accessing earned income, employees can avoid other forms of high-cost loans in case of emergency spending.
With Autoenrollment, every company needs to provide a workplace pension. But the majority of employers are on the wrong As workplace pension members your employees are receiving a valuable benefit. With flexible options for saving and a range of investment choices, plus employer contributions and tax relief, there can be compelling reasons to take pensions seriously
A few years ago, workplace savings just meant your pension – but now some companies are offering other tax efficient options, to save or invest. Example workplace savings schemes include Save As You Earn (SAYE), Share Incentive Plans (SIPs), Workplace ISAs, Salary-Linked Savings, and more.