Financial Wellness Index coming soon
A financial wellness index is set to be launched that will measure how financial stress impacts employees wellbeing, according to Workplace Super Specialists Australia (WSSA).
WSSA chief executive, Douglas Latto, said employees lived their financial problems day-to-day at work and that could now be quantified.
"There are mortgages to be paid, credit card debts, kids to put through school, and the need to save for the future. This can create significant financial stress which can affect both attendance at work and commitment to a job," he said.
That was why financial education at work was most valuable, Latto said.
Differences could be made at work and thousands of lives could be improved, which would result in a happier, more productive workforce, he said.
The index was due to be launched on 26 August.
Recommended for you
Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand.
The third quarter of 2024 saw the first positive increase in adviser numbers for 12 months, according to the latest quarterly Musical Chairs report, with new entrants overwhelmingly choosing to join privately owned firms.
As more advisers review their fee structures, Business Health has shared six steps to calculating the price to deliver financial advice services in a profitable yet suitable way.
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes to disciplining them.
