Supporting employees with financial planning and education

You can support employees to feel in control of their financial future by offering financial education and communicating the benefits of guidance and advice. 

If you think of financial literacy as part of a wider wellbeing programme, instead of a one-off initiative, it may be the foundation to building a more resilient workforce.   

Starting financial wellbeing conversations

Our financial wellbeing tool is a great way to begin money management conversations with your employees. Based on the ten money and mindset blocks identified in our financial wellbeing index, your employees can answer ten questions to get an insight into their financial wellbeing. They’re served a suite of content that’s tailored to them, from financial literacy to emergency savings. This includes a range of articles, resources, videos, and podcasts to help them take steps to improve their financial wellbeing.

You could also provide employees with access to money management tools and apps to help them better manage their finances.  

The positives of financial advice for employees

When your employees want to go beyond self-serve resources, let them know the benefits of getting independent financial advice. 

Speaking to an adviser will let them: 

  • See their full financial picture, in detail. 
  • Have a financial plan that suits their situation and aspirations, with advice that’s tailored just for them. 
  • Keep control over their finances while benefiting from the expertise, knowledge, and strategy of a professional – making financial decisions easier. 

Guidance vs advice for employees

There are some clear differences between guidance and advice that you should explain to your employees. This will help them decide what level of support they may need before getting more information. 

Financial guidance for workplace pensions

Guidance is offered as a free service. When guidance is given, no recommendations are made. Employees should only receive helpful information about their options, which they can then investigate further.  

An important benefit of our workplace pension scheme is Aegon Assist – our free telephone guidance service that allows employees to understand their options for retirement before deciding what to do with their pension.  Aegon Assist can’t give financial advice, but they can provide guidance and information. 

With either a personal or workplace pension, your employees can also set up a meeting with MoneyHelper, a government-backed service which gives free and impartial guidance to help make money and pension choices clearer.

Advice from a financial adviser

Advisers will take an independent, unbiased look at your employee’s circumstances in detail, preparing a plan of recommendations based on their individual needs. With advisers’ expertise, employees can feel more in control and begin to save money where they can. Financial advisers charge for their services but may offer an initial meeting free of charge. Good advisers will be transparent about costs.

Helping employees find an adviser

You could think about offering discounted financial advice as part of your company benefit and rewards package. Your own workplace scheme adviser, if you have one, may offer this service.

You can receive advice from our financial advice business, Origen Financial Services. For £500 plus VAT they’ll give you a personalised recommendation on the pension pot you have with us. Alternatively, you can get 50% discount on wider retirement advice.

Origen is wholly owned by Aegon UK plc. However, Origen operates independently to Aegon UK plc and is committed to being a whole of market advice led business. 

Aegon UK plc will not receive any remuneration from Origen for any Aegon customers using their service. You could also direct employees to MoneyHelper to find their own financial adviser – making sure they access an adviser who is qualified, meets professional standards and is authorised by the financial regulator, the Financial Conduct Authority (FCA). They’ll be able to find a financial adviser near them and filter by area of expertise – whether it be savings, investments, insurance, pensions, or retirement options.