OVO - innovation in workplace savings

With 9 out of 10 people under 35 admitting they will struggle to get on the housing ladder in the next decade, it seems natural that employers consider a workplace savings option beyond the pension scheme.

At the recent REBA FinWell Forum, Jo Fairweather, head of reward and wellbeing at OVO Energy spoke about how the business had to rethink their financial benefits package to meet their young workforce’s financial needs.

Over 80% of OVO employees are under the age of 35 and most are saving for their first home. Feedback increasingly demonstrated that they wanted the business to support their financial goals to save for the short and medium term.

OVO knew it had to help its employees plan for the future and worked flexibly with {{ourName}} to redesign the flex fund scheme to enable choice alongside the pension and in a way that made the complex simple. Over 90% of employees now use the flex fund.

Cushon

Cushon Group Limited is registered in England and Wales with company number 10967805. Registered office: Stephenson House, 2 Cherry Orchard Road, Croydon, England, CR0 6BA. Cushon Money Limited is authorised and regulated by the Financial Conduct Authority with FRN 929465 and is registered in England and Wales with company number 11112120. Cushon Master Trust is regulated by The Pensions Regulator with PSR number 12008536. Cushon Group Limited is the sponsoring company of Cushon Master Trust and is registered in England and Wales with company number 10967805. We provide high quality impartial information but not advice, so it is important that you understand the risks of investing. The value of investments can go down as well as up which means you may get back less than you put in.