The partnership with P&MM is the first contract that CPP Financial Health has signed within the Employee Benefits sector. Incorporated into P&MM’s employee benefits portfolio, ‘Lifestyle’ Financial Health is a new and contemporary product that offers employers the opportunity to demonstrate they are committed to the financial well being of their employees. The new product will give employees access to a comprehensive Financial Health assistance product, which will provide them with the education, information and advice to make important financial decisions with clarity and confidence.
Last year personal debt in Britain broke through the £1 trillion mark and is expected to break through the £1.1 trillion barrier in the middle of 2005 – an obvious concern to borrowers in the light of unpredictable base rate movement. As part of the ‘Lifestyle’ Financial Health offering from CPP and P&MM, employees are offered a highly professional help-line service offering impartial financial advice, which is relevant to their individual circumstances.
Richard Davies, Business Development Director at P&MM said: “Lifestyle Financial Health has been developed on three key pillars and is designed to help employees achieve their financial goals and improve their financial capability. The product is designed to be Proactive – designed to prevent employees from financial breakdown, Holistic – the offering will deal with the individual’s whole financial situation, and Transparent – offering the employees non-judgemental advice and support at all times. We sincerely feel that by partnering with an established organisation like CPP we will be able to empower employees to make financial decisions with confidence and as a consequence gain relief from the burden of rising debt.”
Shirley Woolham, Head of Financial Health at CPP commented: “The partnership with P&MM is a significant move for CPP, taking the company into a previously untouched market – the Employee Benefits market. ‘Lifestyle Financial Health’ is a unique employee product offering, which we anticipate can be claimed as a non-taxable benefit through employers and we are delighted to be able to offer this product as part of the CPP Financial Health portfolio. Moving forward we are now looking at how CPP can further assist its customer base to help them make more of their money”.
