Building Society Association publishes report on workplace saving

15 June 2022

The report entitled ‘Boosting financial resilience and wellbeing through workplace saving’ is centred around findings from a YouGov survey which collected data from 2,000 employees.

The role of payroll professionals is always expanding into new areas and one area which is increasingly being discussed is financial wellbeing. One particular way payroll has direct involvement in financial wellbeing is through workplace savings. This refers to payroll deductions being made from employee pay which are placed in a saving’s account.

According to the report 40% of the population have less than £100 to fall back on in case of an emergency. It explores how workplace savings could potentially help the situation and feedback from employees on their opinions surrounding the topic.

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