Financial wellbeing support: The personal touch
Employers are increasingly moving beyond traditional financial wellbeing benefits and investing in more personalised support and workplace savings solutions to help employees make informed financial decisions and build greater financial resilience, according to new research from REBA in partnership with WEALTH at work.
The Financial Wellbeing Research (2026) highlights a significant shift in employer financial wellbeing strategies, with organisations recognising that employees need support not only to save for retirement but also to manage day-to-day finances, build emergency savings and achieve longer-term financial goals.
Financial education remains at the heart of many financial wellbeing programmes. Almost three-quarters (72%) of employers either currently offer, or plan to offer, financial education provided by an independent specialist.
It remains the foundation of a successful financial wellbeing programme because it helps employees understand their options and make informed decisions.
However, employers are increasingly complementing financial education with more personalised interventions designed to help employees take action based on their individual circumstances.
Tailored support is in demand
Financial coaching is expected to increase by three-quarters (76%) over the next two years, rising from 33% offering it now to 58% in the future. Employers offering access to regulated financial advice is also forecast to grow by over three-quarters (77%), rising from 22% now to 39% in the future. Together, these findings reflect growing demand for more tailored support.
Employees often need help applying information to their own circumstances rather than simply receiving generic communications. This is particularly important as employees approach retirement, when financial decisions can become more complex and the consequences of getting them wrong more significant.
The strongest growth is expected in mid-life MOTs, which are projected to increase by 250% over the next two years, more than trebling from 12% to 42%. Digital financial decision-making tools are also expected to grow by 103%, doubling from 37% to 75%, providing employees with greater access to online support.
Year-on-year comparisons of the research demonstrate the growing momentum behind these services. Mid-life MOTs have already increased by 71%, financial coaching has risen by 50%, and the provision of independent financial education has increased by 42% since last year.
The significant growth in financial coaching and mid-life MOTs reflects employers' growing recognition of the need for more tailored support.
Growing need to build financial resilience
Alongside mid-life support, workplace savings provision is set for significant growth. The adoption of workplace savings alongside a workplace pension is expected to increase by 67% over the next two years (from 33% to 55%).
This comes at a time when many people remain financially vulnerable, with FCA research finding that 13.1 million UK adults (24% of the adult population) have low financial resilience and limited savings to cope with unexpected costs.
New research from Mintel also found that a lack of savings is now one of the biggest barriers to financial wellbeing, highlighting the importance of helping employees build greater financial resilience.
This may help explain why REBA’s research found that employers see workplace savings as an important tool for helping employees build savings (92%) and improve financial resilience (87%). Many also believe workplace savings can help reduce people-related risks such as financial stress and absence (68%), improve employee engagement (67%), support employees facing cost-of-living pressures (64%), to become an employer of choice (65%) and attract and retain talent (59%).
Significant growth
Particularly strong growth is expected in tax-efficient savings products and short-to-medium-term savings solutions. Savings via tax-free wrappers (e.g. ISAs, including Lifetime ISAs) are forecast to increase by 93% (from 27% to 52%). Medium and short-term savings schemes are expected to grow by 106% (from 18% to 37%). Alongside this, the adoption of employee share plans is expected to grow by 21% (from 38% to 46%).
When comparing year-on-year findings from the research, some savings schemes have already seen significant growth. PAYE saving schemes have increased by 157% (from 14% to 36%), while savings tax-free wrappers have grown by 93% (from 14% to 27%) and short-to-medium-term savings arrangements have doubled from 9% to 18%.
The findings suggest employers are responding to growing concerns around financial resilience, emergency savings and short-term financial security, with many recognising that employees need support to manage both current financial pressures and future financial goals.
By helping employees prepare for unexpected expenses and life's financial shocks, workplace savings can play an important role in improving both financial confidence and long-term financial wellbeing.
The most effective financial wellbeing strategies are those that combine tailored financial education programmes, alongside personalised support and opportunities to build both long-term and short-term savings. This helps employees improve financial confidence, take positive action and become more financially resilient throughout their lives.
Supplied by REBA Associate Member, WEALTH at work
WEALTH at work is a leading financial wellbeing and retirement specialist - helping those in the workplace to improve their financial future.
