Workplace ISA

workplace ISA.

Workplace savingsContents

what's the need for a workplace ISA?

the product.

supporting your employees' needs.

Helping employees with their financial wellbeing is more important than ever. A key part of this is providing support to help them build their financial resilience.

Workplace savings means making regular contributions directly from an employee’s pay to a sponsored savings vehicle.

This brochure is intended for employers. The content is general only and not intended as investment advice. Individuals who choose to invest should understand their capital will be at risk. Fund values depend on the value of the underlying assets and can go down as well as up. Individuals should never invest more than they can afford to lose and should seek advice if they are unsure of the suitability of any investment.

63%

of UK employees have less than 3 months savings – finance, insurance and legal services sector fares little better with 57% in this position.

LCP - Supporting good financial futures 2023

58%

in the finance, insurance and legal sector would value a workplace savings vehicle.

LCP - Supporting good financial futures 2023

According to The National Forum for Health and Wellbeing up to

workers have less than £100 available to them.

National Form for Health and Wellbeing at Work - Financial Wellbeing Guide 2023

11 million

Payroll is sticky - NEST Insight found

99%

of Jars accounts in their payroll savings pilot were still active after 18 months.

Nest Insight - Workplace sidecar saving in action - 2023

savings via tax-free wrappers such as ISAs are set for significant growth, with almost half of employers offering or planning to offer these over the next two years (45% compared to 32% in 2022).

The REBA Employee Financial Wellbeing Survey 2023