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Financial Wellbeing: Helping your people feel secure about their money

Financial worry is one of the most common causes of stress at work. When employees are concerned about debt, their pension, what would happen if they couldn’t work, or how to navigate a major financial decision, that concern doesn’t wait until they get home. It sits with them throughout their working day.

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My Group’s financial wellbeing offering gives employers a way to address that directly.

It brings together financial education, access to regulated advice, workplace pension support, health protection benefits and estate planning in one place, covering the full arc of an employee’s financial life, from the everyday to the long term.

My Group provides the employee experience and connects employees with the appropriate service. Any regulated advice is provided by an FCA-authorised company within My Group or an appropriately authorised third-party provider.

Why does financial wellbeing matter at work?

A workplace pension is an important employee benefit, but employees often have wider financial questions throughout their lives, from managing day to day finances to planning future goals.

Employers are increasingly recognising the link between financial wellbeing, employee engagement and productivity. Providing access to financial education, guidance and where appropriate, regulated advice can help employees better understand their options and make informed financial decisions.

What financial wellbeing support does My Group offer?

My Group’s financial wellbeing offering covers a range of needs across several areas. Each has its own page with more detail.

Financial Education and Advice

Practical financial education to help employees build their knowledge and confidence, alongside access to regulated advice in specific areas including mortgages, investments, retirement planning and personal protection.

My Group provides a route to both, so employees can get the level of support that’s right for their situation, whether that’s improving their financial literacy or speaking to a qualified, FCA-authorised adviser about their specific circumstances.

Find out about Financial Education & Advice

Workplace Pension Schemes

For many employees’ the workplace pension is one of their most significant long term assets. Helping employees understand how workplace pensions work, the importance of pension saving and where to obtain appropriate support can form an important part of a broader financial wellbeing strategy.

Health and Insurance Benefits

Financial wellbeing isn’t only about building for the future. It’s also about knowing that if something goes wrong, there’s a financial safety net in place. My Group’s health benefits cover a range of needs, from health cash plans and hospital cover through to  critical illness cover, providing valuable financial protection and support when required.

Find out more about Health & Insurance Benefits

Funeral Planning Benefits

Support for employees who want to plan ahead, including access to funeral plans. These benefits can help employees make practical arrangements in advance and provide greater clarity for families.

Employees perform at their best when they can focus on the job in front of them. Financial worries can be a significant distraction, which is why giving people access to education, support and where appropriate, professional advice, can form an important part of a broader wellbeing strategy.

Martin Jones, FD

1 in 19

UK adults have no cash savings at all

92%

Of Uk employees have experienced financial stress in the last year

27%

of employees with MyGroup benefits save over £100 a year

Financial wellbeing support can start small

Many organisations begin with financial education or pension guidance and build from there as they understand what their workforce needs most. Tell us about your people and we’ll help you work out where to start.

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Regulatory Disclosure

My Group provides the employee experience and connects employees with the appropriate service. Any regulated advice is provided by an FCA-authorised company within My Group or an appropriately authorised third-party provider.

Health and Protection benefits are arranged and administered by My Health Xtras Ltd, registered in England and Wales (11742197) and authorised and regulated by the Financial Conduct Authority (FRN 833700).

Gee 7 Wealth Management Limited is registered in England and Wales (1047306) and authorised and regulated by the Financial Conduct Authority (FRN 455935).

Details can be checked on the Financial Services Register.

Registered office: 2 Charlesworth Court, Knights Way, Battlefield Enterprise Park, Shrewsbury. SY1 3AB.