Financial wellbeing Did you know that poor mental and financial health can go hand in hand? Those that have poor financial health are nearly 4 times more likely to suffer from anxiety, and more than 5 times more likely to feel depressed and struggle with daily life. (The Employer’s Guide to Financial Wellbeing 2020-21 – Salary Finance).
We are committed to providing information, education and awareness to our employees to support them to achieve and maintain positive financial wellbeing. You can find out why looking after your Health and Wellbeing is so important to us by watching our new video here.
Financial awareness webinars In 2020, we launched our partnership with Close Brothers, who offer financial support and wellbeing.
Following the success of our retirement webinars, we are planning further financial awareness webinars in October aimed at three employee groups providing information on topics covering: Early careers, under 30 years: Covers topics such as planning and budgeting, debt management and student loans, renting or buying a home, improving your credit score, and an introduction to the Barratt Pension. Mid-career, age 30-50: Provides information on reviewing pensions and retirement planning, re-mortgage, property investment, wills and estate planning. Retirement planning, employees within 10 years of retirement: The 7 steps to financial wellbeing, lifetime savings choices, employed versus pension income, how much is needed in retirement? DC pension choices drawdown, annuity, Self-Invested Personal Pensions (SIPP). Below is some of the feedback we received from colleagues who joined the webinars: “Excellent presentation, difficult to improve on the content.” “Really useful and informative.” “Extremely comprehensive presentation, lots of food for thought and some helpful pointers. Many thanks.” Look out for further updates about these live webinars and how you can book on to these.
Make further savings Claim tax relief for working at home It doesn’t matter if you have not worked at home every single day, under the current rules you can claim a full year’s tax relief, meaning you pay less tax over the year. Click here to complete an online form, which takes less than five minutes to fill in, and could save you between £60 - £120. Doing less miles? Look at your car finance and insurance If you are in a Personal Contract Purchase (PCP) or insurance agreement with a set mileage limit, you may find you are going to come to the end of the agreement with a significantly reduced number of miles on the clock. If this is the case for you, why not contact the car dealership, finance or insurance company to request a review? It is worth a try and could bring down your monthly payments!
For information, tools and links on many areas of health and wellbeing please click here to visit our My Barratt Benefits website