Workplace financial wellbeing

Workforce financial wellbeing is not just a workplace issue. It is a critical driver of UK growth and competitiveness.

Across the UK, employers increasingly recognise the importance of supporting their employees' financial resilience, but there remains a clear ‘intent versus impact’ gap, with many organisations still struggling to translate ambition into meaningful, measurable outcomes.

94% of employers believe employees are confident managing retirement savings. However, only 27% of UK employees say that they are happy with their retirement contributions and investments, while 44% of the workforce either do not know whether they are contributing enough or do not understand how their retirement savings work.

Closing this gap is essential to delivering the UK’s broader growth agenda. Initiatives such as the Mansion House Accord demonstrate the scale of opportunity, unlocking significant long-term investment into UK businesses, infrastructure and high-growth sectors. But realising this potential depends on a workforce that is engaged, financially capable, and supported to make informed long-term decisions.

To improve workplace financial wellbeing this new report, produced in collaboration with nudge, is calling on employers to prioritise more personalised, life-stage financial well-being support that centres on education and is built around real-world scenarios. Roundtables conducted as part of the research showed that employees felt that current support was often too generic.

The report also calls on government and regulators to clarify guidance vs regulated advice boundaries; expand trusted financial education support into the workplace; and support consistent employer standards.