Financial product providers that work with employers to offer payroll-deducted savings, loans and salary advance schemes range from credit unions to fintech providers.
While the Money and Pensions Service cannot choose a provider for you, we can set out the product choices available to you.
Financial education and guidance on money management are important to help your people decide if payroll-deducted savings meets their needs – it should not be presented as a substitute to contributions to a workplace pension, nor should people set up a payroll savings scheme without considering first if they are on top of any debt commitments.
MaPS, set up by government, is an impartial provider of money and pensions guidance on money and the largest funder of debt advice in the UK.
Contact our partnership team for free, bespoke support.