Neyber aims to address the nation’s ‘savings gap’ by offering a workplace ISA product with investment platform, Smarterly

By partnering with Smarterly, Neyber aims to address the nation's ‘savings gap’ by providing a range of saving vehicles. These include Adult ISAs, Junior ISAs, and a general investment account, soon to be followed with a Lifetime ISA and Cash ISA.

Neyber aims to address the nation’s ‘savings gap’ by offering a workplace ISA product with investment platform, Smarterly

Employees can save and invest directly into a workplace ISA from salary, at no cost to the employer
The Workplace ISA products have been designed to meet the needs of today’s UK workforce, from a millennial saving for their first home, to a sophisticated investor managing a diverse portfolio.
This collaboration is the next milestone in Neyber’s mission to turn the UK workforce from a nation of borrowers into a nation of savers.
Neyber, the UK’s largest financial wellbeing provider, today announced a partnership with investment platform, Smarterly. The first product available will be an investment ISA, through Smarterly, which allows employees to save and invest directly from their salary at no cost to the employer. This new addition will compliment Neyber’s range of workplace financial education and direct-from-salary low-cost loans.

By partnering with Smarterly, Neyber aims to address the nation’s ‘savings gap’ by providing a range of saving vehicles. These include Adult ISAs, Junior ISAs, and a general investment account, soon to be followed with a Lifetime ISA and Cash ISA.

The Smarterly portal has been designed with the workplace in mind, making it simple and convenient for an employee to save and invest money, whether they are a novice or experienced investor. Employees also benefit from SmarterCare – the platform’s automated monitoring service – which alerts the employee should there be any notable changes to their investment, helping them feel more supported throughout the life of their investment.

There is the option to transfer existing ISAs into the platform and take advantage of the competitive platform fees which have been discounted for employees from a typical market rate of 0.79% to 0.40% pa.

Monica Kalia, Co Founder and Chief Strategy Officer of Neyber, said:

“Financial wellbeing is a key topic for HR teams, yet they are grappling with the amount of products and services available in today’s market. By partnering with Smarterly we are now providing a holistic offering that encompasses saving, borrowing and education, which are the foundations of any good financial wellbeing strategy. We chose Smarterly as they share our ethos of providing the most inclusive and competitive savings and investment solutions to employees in the market.”

Ben Pollard, Founder of Smarterly, said:

“Many employees are not engaging with their employer’s pensions comms and have become disillusioned with the benefit of long-term retirement planning. Offering the workforce a workplace ISA is a great way to address the country’s savings gap. Employers can enable employees to kick-start their savings journey and support their short-term goals like buying a house or planning to get married. With access to over 1m employees on their financial wellbeing hub, Neyber make a great partner to accelerate our growth plans.”

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