WSB

Poor financial wellbeing is no longer limited to the unemployed and could be costing employers 4% of payrolls. Owain Thomas examines why employers should care about staff finances.

Claims figures released by the group risk industry show more than 24,000 employees benefited from cover last year. But, as Owain Thomas discusses, they also provide a timely reminder of the need for clear communication.

Here they are. The shortlists for this year's Workplace Savings and Benefits Awards.

The majority of employees have "unrealistic plans" to survive financially should they find themselves long-term sick, Group Risk Development (Grid) has warned.

Multinational companies are still at the early stages of developing their global benefits strategy and management approach.

Control over costs is overwhelmingly the reason global companies use multinational pooling, with 80% citing it as the prime reason the schemes are in place.

Just 17% of technology firms will see standard pay increases across their organisation compared to roughly half of that of other industries (32%), research reveals.

Regulations should be changed to allow a "national wealth service" to be established to distribute independent retirement advice more widely, according to Ros Altmann.

PruProtect is entering the workplace benefits market by adding its Vitality programme to its relevant life policy.

Increasing the take-up of the government's at-retirement guidance will be key in keeping pension savers informed of scams and fraudsters, the chief executive of TPAS says.