The Department of Work and Pensions has launched a new online service for consumers looking for a financial healthcheck – or ‘mid-life MOT’.
But it is also calling for employers to provide similar services through the workplace. To help facilitate this, the DWP is also working with the organisation Business in the Community (BiTC) on a guide for SMEs, showing how that can offer mid-life MOT’s to staff.
This new section of the DWP website provides information on a range of financial issues, including pensions and retirement. It will also provide information on skills, training and health.
This new portal will signpost where people can get further guidance and advice on all of these issues. It will work in conjunction with the Money Advice Service, as well as Public Health England and the National Careers Service .
Minister for pensions and financial inclusion Guy Opperman says: “There comes a point in life’s journey when we need to take a closer look under the bonnet.
“A mid-life MOT can help people make sure everything is heading in the right direction – so everyone is fit for the road for years to come.
“But an MOT wouldn’t just benefit an individual. The evidence from the Aviva trial shows that businesses providing them benefit massively, by having a healthier and more settled workforce.”
BiTC age campaign director Anne Willmot adds: “We believe that employers can play a vital role in enabling people to build their plans and shape their work to suit their needs and aspirations.
“Our new toolkit has been designed specifically with small and medium sized businesses in mind and sets out how a mid-life MOT can help both employers and employees.”