Pension full

Pension full? Ask your boss for a ‘WISA’

You may already have a pension and an ISA, but do you have a WISA?

Falling pension allowances and younger workers’ desire to get on the property ladder have led to an increasing number of employers to offer workplace ISAs or ‘WISAs’ to their staff.

Figures are hard to come by, but in 2015 roughly one in 10 of Britain’s largest firms offered ISAs to staff.  ISA providers say the figure is now rising rapidly.

Workplace ISAs are an attractive option for employees at all stages of their career.

Darren Laverty, Partner at Secondsight, Foster Denovo’s employee benefits division,  says “Workplace ISAs can give staff an incentive to keep working when there is no longer any scope to add to their pension.

Firms are starting to look at the causes of mental health issues among their staff.  It is thought that people in debt are twice as likely to develop serious depression as those not in financial difficulty.

Helping staff build up some emergency savings used to be a ‘nice to do’, now I think it’s a must do”

Read the article in full from The Daily Telegraph’s Money section here.