Employers give cautious backing to sidecar project

“The pandemic has created an uncertain and difficult backdrop for rolling out new benefits to employees, given the many other issues that employers are trying to manage and address at this time. But it has also brought employee financial wellbeing to the forefront of most employers’ thinking, and made the idea of saving for the future much more salient to most employees,” said Jo Phillips, director of research and innovation at Nest Insight.

“We believe that now more than ever the case for helping employees to build up short and longer-term financial resilience is clear. We hope these early learnings from our trial provide valuable insights for policymakers in the UK and beyond, as well as to providers, employers and employee benefits consultants who are working on solutions to support people to build financial resilience.”

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