Let's talk financial wellbeing

Access the recordings of our staff financial wellbeing sessions 6 - 10 November 2023

Talk money week banner

 

During the week of the 6-10 November 2023, we supported #TalkMoney Week, an awareness week by the Money and Pensions Service, designed to get us all talking more about the pennies in our pocket, our thoughts and feelings around money, and how and where to get help if and when we need it.

This year, Talk Money Week asked you to Do One Thing to help your financial wellbeing: check the cost of living guides available on the MoneyHelper website.

Research shows that people who talk about money:

  • make better and less risky financial decisions
  • have stronger personal relationships
  • help their children form good lifetime money habits
  • feel less stressed or anxious and more in control.

Building money conversations into our everyday lives also helps us build financial confidence and resilience to face whatever the future throws at us.

Based on the feedback received at the financial wellbeing webinars run last academic year, the focus was on pensions but take a look at the other webinars and resources on offer below. 

Register for a session

Event details

This webinar, part of the Talk Money Week event series, is designed to introduce staff to some of the benefits available at the University.

The session was led by the Reward Team and covers topics including: 

  • Discounts
  • Travel schemes (in particular bike and car salary sacrifice)
  • University facilities
  • And more

Recording

https://unioxfordnexus.sharepoint.com/sites/ADMN-UASMosaicDocumentHub/_layouts/15/embed.aspx?UniqueId=54ea98f1-a39e-4db1-8bbd-d93872df6967&nav=%7B%22playbackOptions%22%3A%7B%22startTimeInSeconds%22%3A6%7D%7D&embed=%7B%22ust%22%3Atrue%2C%22hv%22%3A%22CopyEmbedCode%22%7D&referrer=StreamWebApp&referrerScenario=EmbedDialog.Create

 

Event details

The theme for Talk Money Week this year encourages you to ‘Do one thing’ when it comes to your money and pensions. Why not let that one thing be to understand your pension? The Money and Pensions Service's research shows that often individuals do not understand enough to plan for their finances in later life. 

During this session, the MoneyHelper Pensions specialists explained the different types of pensions available, how they work and how you can understand what to expect in retirement.

Recording

Recording will be available soon via MoneyHelper.

 

Event details

David James, Pensions manager for the OSPS pension at the University, delivered this information session for all staff eligible for or part of the OSPS pension scheme. OSPS is for staff on grades 1 to 5 at the University and support staff at other employers. This session covered the information listed here: 

  • Joining the scheme
  • Opting- out / salary sacrifice
  • Beneficiaries
  • Additional Voluntary Contributions
  • Transfers
  • Explaining DB and DC schemes
  • Legal and General portal and statements
  • Ill-health
  • Death
  • Retirement
  • Flexible retirement
  • Leaving the scheme
  • Questions from floor

More information about the OSPS pension scheme can be found on the OSPS Pensions homepage.

Recording

https://unioxfordnexus.sharepoint.com/sites/ADMN-UASMosaicDocumentHub/_layouts/15/embed.aspx?UniqueId=8a69cd2f-2e26-461f-9b66-39996758fe3a&nav=%7B%22playbackOptions%22%3A%7B%22startTimeInSeconds%22%3A11%7D%7D&embed=%7B%22ust%22%3Atrue%2C%22hv%22%3A%22CopyEmbedCode%22%7D&referrer=StreamWebApp&referrerScenario=EmbedDialog.Create

 

Event details

The University's new Employee Assistance Programme, Health Assured, offers legal and money guidance via its 24/7 helpline. 

Indigo Ramsay, Operations Manager at Health Assured, hosted a 20 minute financial wellbeing session talking about the Legal and Financial Advisory team and how they can support with any financial related queries you have. This is a look at the extent of advice around separation, budgeting, debt, county court judgements and benefits.

Recording

https://unioxfordnexus.sharepoint.com/sites/ADMN-UASMosaicDocumentHub/_layouts/15/embed.aspx?UniqueId=44cb7e88-e724-40b8-9715-9e7081b52577&nav=%7B%22playbackOptions%22%3A%7B%22startTimeInSeconds%22%3A8%7D%7D&embed=%7B%22ust%22%3Atrue%2C%22hv%22%3A%22CopyEmbedCode%22%7D&referrer=StreamWebApp&referrerScenario=EmbedDialog.Create

 

Event details

Alan Cunningham, Pensions manager for the USS pension at the University, delivered this information session for all staff eligible for or part of the USS pension scheme. Employees who are on academic or academic-related pay scales (generally grade 6 or above) are usually offered membership of USS. This session covers the information listed here: 

  • Joining the scheme
  • Opting- out / salary sacrifice
  • Beneficiaries
  • Additional Voluntary Contributions
  • Transfers
  • Explaining DB and DC schemes
  • MYUSS account and statements
  • Ill-health
  • Death
  • Retirement
  • Flexible retirement
  • Leaving the scheme
  • Questions from floor

More information about the USS pension scheme can be found on the USS Pensions Hub.

Recording

https://unioxfordnexus.sharepoint.com/sites/ADMN-UASMosaicDocumentHub/_layouts/15/embed.aspx?UniqueId=2cd6b565-6e86-4691-bf52-fc46fffe1347&embed=%7B%22ust%22%3Atrue%2C%22hv%22%3A%22CopyEmbedCode%22%7D&referrer=StreamWebApp&referrerScenario=EmbedDialog.Create

 

Financial wellbeing general resources

Worries about money can have an impact on your mental health. And your mental health can affect how you manage your money. Learn more about how the two affect each other, and get tips for getting to know your money and mood patterns via the Mind webpages. 

Take a look at the Wellbeing Programme Team's financial wellbeing pages which signpost to sources of internal and external financial support. 

Cost of living crisis

MoneyHelper offers free, impartial money guidance to millions of people through their website, contact centre, WhatsApp and webchat. This is a free service provided by the Money and Pensions Service and backed by government. Their cost of living pages offer invaluable guidance to help you keep on top of your money. MoneyHelper ran a comprehensive session on 'how to navigate the cost of living crisis' for the Wellbeing Programme Team in Hilary term 2023 which you can watch here: 

https://unioxfordnexus.sharepoint.com/sites/ADMN-UASMosaicDocumentHub/_layouts/15/embed.aspx?UniqueId=c9e13602-657c-40c0-b178-29f5b12d60b6&nav=%7B%22playbackOptions%22%3A%7B%22startTimeInSeconds%22%3A27%7D%7D&embed=%7B%22ust%22%3Atrue%2C%22hv%22%3A%22CopyEmbedCode%22%7D&referrer=StreamWebApp&referrerScenario=EmbedDialog.Create

 

Pensions information

General pensions information can be found on the MoneyHelper Pensions basics webpage. They also offer free and impartial pensions guidance via their helpline, online enquiry form or webchat all available via their Pensions and Retirement page. 

In addition, if you are over 50 and you have a UK-based defined contribution pension pot, you can book a Pension Wise appointment to help you make an informed decision about taking money from your pension pots.

If you are a staff member on an NHS pension, you can find out more information on the NHS pension University webpage. If you have any questions regarding your NHS pension, please contact the pension manager on 01865 616133 or via email at oxnhsps@admin.ox.ac.uk.

Talk about money with friends and family

MoneyHelper provides some great guides to help you talk about money with your partner, children, friends, parents and grandparents. 

If your partner or family controls access to your money, or runs up debts in your name, it’s financial abuse. But there’s no need to struggle on alone.

Read this guide on Financial abuse: spotting the signs and leaving safely

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