Insurance -
AXA: 250,000 to take part in My Budget Day - 19/11/2007
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Life insurance firm AXA has announced that it will give all of its employees an hour off work this Wednesday to allow them time to take control of their personal finances.
The life insurance provider predicts that around 250,000 British workers will follow suit for its annual My Budget Day.
Research conducted by the life insurance company showed that 49 per cent of UK business bosses were amenable to the financial awareness scheme - and AXA today expressed the hope that as many as possible would join up.
Steve Folkard of AXA said: “Spending an hour a month on your finances isn’t long but it can make a huge difference to your financial situation - so we’re asking everyone to take part in My Budget Day and make a habit of finding just one hour in a month when they stop and review their finances."
The scheme has been welcomed by business groups including the Confederation of British Industry (CBI).
Director-general Richard Lambert commented: “It’s clear that industry needs to take responsibility for the wellbeing of their employees.
"There are a lot of companies out there that are considering how they might offer generic financial advice to their employees - and there are parallels with what companies are doing to raise general education levels as well as the fitness of their employees. It all improves morale."
The life insurance firm currently employs 12,000 people in the UK.
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