- A new National Coalition for Workplace Savings is set to launch, aiming to bolster UK adults' financial resilience by promoting regular saving through employer-backed schemes.
- The employer-led coalition represents diverse sectors including retail, hospitality, and the public sector, collectively employing around 400,000 people.
- Key members include the Co-op, First Bus, Next, Defra, Travelodge, Mitie, and StepChange, which are all working to increase access to workplace savings.
- These schemes enable employees to build a savings pot by deducting a default amount via payroll into an easy access account, helping to protect against unexpected bills and high-cost debt.
- Economic Secretary to the Treasury, Rachel Blake, and coalition chair Claire Costello highlighted the importance of the initiative in helping working people build regular savings habits and a financial safety net.
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