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A new report has revealed that 73% of workers have never spoken to their employer or line manager about their financial wellbeing.

However, Aviva’s Working Lives Report 2022: The Big Squeeze found that younger workers, in particular 25-34-year-olds (39%), were more willing to have these discussions with their employers. This was closely followed by those aged 18-24 (31%).

Emma Douglas, Aviva’s Director of Workplace Savings & Retirement, said, “Talking money with an employer appears to be one of the last workplace taboos. Young workers are clearly breaking down the stigma associated with talking to the boss about the ‘m’ word, but it is important that all generations of workers feel they can talk about their financial wellbeing with their employer.

“One of the areas that employers can offer important support is retirement savings. Pensions are designed to be a long-term investment and any decisions made today will echo throughout a person’s retirement.”

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

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The report also found that many employees had great concerns about their pension and whether it will provide them with the lifestyle they would like when they retire. Just 19% said they feel able to retire comfortably on their workplace pension – 34% feel their pension will not be enough.

Emma Douglas, added, “It is a shame that so many people who have a workplace pension and are worried about not being able to retire comfortably have never spoken to their manager about their concerns.

“This is an unusually tough time for people and the extent of financial hardship will be unique for everyone. It is more important than ever that employers encourage their people to talk to them about money worries, and employees take-up any financial education or guidance their employer is able to offer.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £125 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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