An annual limit on the contributions that can be paid to a DC pension and the total amount of benefits that can be built up on a DB pension.
Every employer in the UK must put certain staff into a pension scheme and contribute towards it.
Occurs every three years and sees the re-enrolment of employees, who had previously opted-out, back into a pension.
A common driver for Financial Education, CSR is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for stakeholders.
Technology that allows employees to enter their bank, credit card, pension and other login details into the work provided financial management platform to provide a holistic view of their finances.
Professionals who offer advice on financial matters and recommend financial products to their clients.
Where an employer is working to develop their employee’s financial literacy.
An employee’s ability to understand money matters which is developed through workplace Financial Education.
The area of employee benefits within which Financial Education as a benefit typically sits.
The limit on the amount of pension benefit that can be drawn from a pension without triggering an extra tax charge. The last few years have seen the Lifetime Allowance reduce so Financial Education provides a way for employers to help their people understand and navigate these changes.
The annual increase in the cost of group medical insurance which can be controlled by Financial Education reducing financial stress related medical claims.
The concept in behavioural science which argues that indirect suggestions to try to achieve non-forced compliance can influence the motives, incentives and decision making of groups and individuals, at least as effectively – if not more effectively – than direct instruction, legislation, or enforcement.
The Management Information and insight we provide for our clients showing their employees usage of our service.
Our Values – the way we work at Nudge. Collaborative. Focused. Accurate. Robust
The new pension rules which came into force in 2015 which provide greater flexibility over what you can do with your pension pot. Financial Education provides a way for employers to help their employees understand and navigate these changes.
An approach to web design (used by Nudge) that adjusts a website or platform to the size and shape of a specific device screen for example laptop, tablet or smartphone.
Where an employee gives up some of their salary to receive an employer funded benefit in its place. Financial Education can be used to boost salary sacrifice take-up.
Also often know as Save As You Earn or SAYE, Share Save is a way of employees buying a stake in the company they work for. Financial Education can be used to boost Share Save take-up and help employees manage any associated windfalls.
A network protocol, used by Nudge that facilitates the secure encrypted transfer of data from one application to another.
When an employee can pass seamlessly from one platform to another without having to re-enter login details. SSO is widely recognised to boost employee engagement and is used by Nudge with our client’s intranets, HR and benefits platforms.
An easy way to contribute to an ISA directly from your salary, giving another tax-free savings option on top of company pensions. Financial Education can be used to boost Workplace ISA take-up.
A loan made available to employees which is paid off directly from payroll. Financial Education can be used to make sure employees properly understand the loans they are taking on
The proactive strategy of providing employees with Financial Education during their career to maximise the chances of them being able to retire when both you and they expect to be able to retire.