Research conducted by ProShare, in partnership with Secondsight, shows that millennials (16 – 37 year olds) often don’t take advantage of share schemes because they think the schemes are outdated, inflexible and unaffordable.

Financial education can not only help employees understand how they can cut costs and save money in order to be able to afford to contribute, but it can also inform employees about the various benefits of the different types of share schemes and key considerations to think through such as levels of risk and tax treatments.

Ian Bird, Business Development Director, Secondsight, said: “This research has come at a key time and emphasises the need for change.  SAYE is an important savings tool, and through a combination of flexibility, education and good communication I believe we can reverse the current trends this research and report highlights.”

To read more visit The HR Director here, Personnel Today here and Employee Benefits here.

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