Three people in a meeting room looking at paperwork

Financial wellbeing

Financial wellbeing support for you and your employees, all in one place

Three people in a meeting room looking at paperwork

Why financial wellbeing is important

Financial wellbeing is a key part of overall employee wellbeing. Money worries are one of the biggest causes of stress for working adults and can directly affect health, performance and engagement at work. 

By offering financial wellbeing support, employers can make a meaningful difference to their employees - while also benefiting the organisation.

Benefits to you

Benefits to you

  • Improved productivity and focus as employees spend less time worrying about money
  • Reduced absence and presenteeism linked to financial stress
  • Stronger attraction and retention, with a benefit employees genuinely value
  • Better outcomes from existing benefits, including pensions and savings schemes
  • Supports inclusion and wellbeing strategies across a diverse workforce.

Benefits to your employees

Benefits to your employees

  • Reduced stress and anxiety by helping staff feel more in control of their finances 
  • Greater confidence to make informed decisions about money, savings and pensions 
  • Support through life events such as starting a family, caring responsibilities or illness 
  • Improved engagement with workplace benefits, including pensions.

Financial wellbeing resources

Life cover

Our financial wellbeing support

Helping people understand their pension, and feel more on top of their finances today, can help them better prepare for retirement and their future financial wellbeing. We offer a range of helpful resources to enable you to support your employees with their financial wellbeing requirements. Explore each resource in more detail below.
 

Be Money Well

Macmillan Cancer Support

We Are Digital

Citizens Advice

Employer support

Be Money Well

Through our employee financial wellbeing website, Be Money Well, we give employees access to clear, practical financial wellbeing support that helps them feel more in control of their money and more confident about the future. 

Topics covered include:

  • Taking on your pension - helping employees learn how to get the most from their pension, no matter where they’re starting
  • Financial essentials - offering guidance on the basic pillars of money management, including budgeting, savings and debt
  • Life’s money moments - helping put employees in the best possible financial situation to prepare for life’s events such as buying a home, getting married and bereavement
  • Boosting your online skills - lessons cover everything from staying safe to managing their pension online
  • Support for difficult times - different topics to help employees find the support they need
  • Support through the cost-of-living crisis - with many people's finances under pressure from rising living costs and market uncertainty, we're committed to supporting customers during these challenging times. To help them manage the day to day impact, we've provided some useful resources.

Each topic is broken down into bitesize lessons which contain guidance and “how to” steps to help increase financial knowledge and confidence.

 

Tips to talk about money

Money is often considered a taboo subject. But given most aspects of our lives are affected by our finances in one way or another, not talking about money can cause problems. We explore the benefits of talking about money and include tips on how to start these conversations with friends and family. There’s also support for people who don’t feel safe talking about money.


Blogs: Helping you to Be Money Well

Our financial wellbeing blog series is centred around industry awareness days and key insights, and we explore each topic to help employees better understand and manage different aspects of everyday finances.


Additional support

In addition to all of the above, employees can also access support from external charities such as Macmillan Cancer Support and Mental Health UK, and find links to external sites, such as information on the support available from the Government.  

You can share Be Money Well with your employees using the Retirewell employee engagement materials or you can share the link below with them directly. 

Visit Be Money Well

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Macmillan

Macmillan offer support for those with/affected by cancer. They can help people understand the financial impact of a diagnosis, as well as their work and welfare rights. They can also connect employees with a nurse to help them further understand a diagnosis.

The service we offer in partnership with Macmillan can give your employees practical, emotional and personal support for as long as they need. Call in confidence on 0808 501 3600 (9am to 5pm, Monday to Friday). Or visit www.macmillan.org.uk

Macmillan Cancer Support logo

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We Are Digital

Digital helpline logo and phone number 0345 222 0333

In an ever-progressing digital world, we want to support people to enhance their digital skills, ultimately giving them the knowledge and confidence to manage their finances online.

The service we offer in partnership with We Are Digital, provides a free digital skills helpline for people who have little to no digital skills or access to a digital device. This service provides members with an opportunity to receive one to one digital upskilling from an expert at the charity themselves.  

The helpline is signposted throughout the ‘boosting your online skills’ topic on Be Money Well.  

Employees can call the digital helpline directly on 0345 222 0333 or access it via our member helpline. The phone number for our member helpline can be found on your pension information website or on any communications your employees receive from us.

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Citizens Advice

Citizens Advice provides free guidance and information on various topics.

The service we offer in partnership with Citizens Advice, supports members in financial distress. They’ll complete a full financial review and assess entitlement to the Household Support Fund, Energy Efficiencies and Foodbank vouchers. They can also signpost to debt support and hardship funds/grants. 

Members can call our member helpline and we will arrange a referral and callback within 2 days. 

Macmillan Cancer Support logo

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Support for you as an employer

Retirewell

To help you share our financial wellbeing support with your employees, we’ve created a range of employee engagement materials that explain the resources available and benefits they offer.  

Your Relationship Manager can help you use these materials to complement your existing employee engagement plans. Or you can access the materials directly via our Financial Wellbeing Readymade Campaign on Retirewell.

Retirewell can help your employees throughout their retirement journey.

Regular financial wellbeing thought leadership

Visit our Workplace Pensions insights page for the latest news, expertise and thought leadership on a variety of topics, including financial wellbeing, from Scottish Widows’ experts.

For employer use only.